Vietnam has become more attractive to foreign investors, especially those who are seeking to diversify their investment portfolios outside of China. The political stability of Vietnam continues to have a strong attraction to foreign investors. Visit Vietnam Insider’s homepage for more stories. Many investors said that Vietnam has been still strengthening its position as one of the more and more attractive investment destinations, being the first choice for foreign enterprises. According to the latest survey data, the rate of foreign direct investment (FDI) enterprises reporting losses increased from 34.3 percent in 2019 to 47.1 percent in 2020 – the highest…
Author: Miley Selena
The Health Ministry announced Tuesday evening 27 new Covid-19 community transmissions in areas already under lockdown or isolation. Of the new patients, 20 were recorded in the northern province of Bac Ninh. Hanoi and the provinces of Bac Giang and Thai Binh had two cases each and the remaining one was in Thua Thien Hue Province. In the fourth coronavirus wave that started April 27, Vietnam has recorded 529 domestic cases in 26 cities and provinces. No new cluster has been detected as of Tuesday. Deputy Prime Minister Vu Duc Dam, head of the National Steering Committee for Covid-19 Prevention…
In March 2020, VinSmart phones reached 16.7% of the smartphone market share in Vietnam Vsmart is the Vietnamese smartphone brand reaching the most foreign markets Vsmart has launched 19 phone models Visit Vietnam Insider’s homepage for more stories Vsmart phones have seen milestones that have never been made by any Vietnamese phone company. VinSmart has just announced its withdrawal from the phone and TV market, ending a period of nearly three years with many successes that were difficult to achieve by not only Vietnamese phone makers but also foreign firms. What’s special about Vsmart’s 3-year journey in Vietnam? From zero…
Transacting in big-ticket or high-value cash transactions can land you in trouble with the Income Tax Department. There are various cash-related transactions that the tax man keeps a close watch on; entities like banks, mutual fund houses, brokerages and registrar of properties will have to inform the tax department if you transact via cash beyond the specified limit. Here is a look at some of the high-value cash transactions that can that can get you an income tax notice from the tax department. Cash deposit in FD: The Central Board of Direct Taxes (CBDT) has said that banks have to…
Samsung has lost top sport in 4 Southeast Asian smartphone markets, including Vietnam in Q1 of 2021. The South Korean tech giant logged a 19 percent market share in Indonesia, the Philippines, Thailand and Vietnam in the January-March period. Visit Vietnam Insider’s homepage for more stories. Samsung Electronics Co. lost its top spot in four major smartphone markets in Southeast Asia in the first quarter of the year, a report showed Tuesday, as it faced intensified competition with Chinese brands in the region. The South Korean tech giant logged a 19 percent market share in Indonesia, the Philippines, Thailand and…
Foreign investors laud Vietnam’s infrastructure development plan, according to US-based newswire firm Barron. CPV earmarking US$119 billion for infrastructure and committing to increasing the private sector’s contribution to the GDP have attracted foreign investors and resulted in upbeat signals in the financial market. Visit Vietnam Insider’s homepage for more stories. The US-based newswire barrons.com has published an article analyzing positive impacts on Vietnam’s financial market of an infrastructure development plan issued at the 13th National Congress of Communist Party of Vietnam. The article said the leaders of the Communist Party of Vietnam (CPV) earmarking US$119 billion for infrastructure and committing…
The Ministry of Health reported 28 more Covid-19 community transmissions in northern Vietnam Tuesday morning, raising tally of the new wave so far to 486. All the new cases were found within locked down areas, from the National Hospital for Tropical Diseases (1), Bắc Ninh (13), Vĩnh Phúc (7), Bắc Giang (5), Lạng Sơn (1), and Hải Dương (1). The lockdown of K Hospital in Hanoi has succeeded in bringing its Covid-19 outbreak under control in quick time, says hospital director Le Van Quang. The hospital was deemed a Covid-19 hotspot and has been placed under a lockdown since last…
HCM City has received two more trains for its metro route No 1 between Bến Thành and Suối Tiên, scheduled to begin commercial operations next year, making for a total of three so far. The six carriages meant for the two trains arrived on Monday morning at a port in District 4 after leaving Japan on May 1. One three-coach train each will be transported on Tuesday morning to Long Bình Depot in Thủ Đức City by road, and the other will be transported on Thursday. The city plans to import 17 trains with either three or six coaches. The…
Moody’s Investors Service has upgraded the long-term local and foreign currency deposit and issuer ratings of Vietnam Maritime Commercial Joint Stock Bank (MSB) to B1 from B2, a result of upgrades in the bank’s Baseline Credit Assessment (BCA) and Adjusted BCA to b2 from b3. The upgrade of MSB’s BCA and long-term issuer and deposit ratings reflects (1) improvements in the bank’s asset quality due to its full resolution of outstanding Vietnam Asset Management Company (VAMC) bonds in 2020 and lower credit concentration in the riskier real estate sector; (2) improving profitability because of higher net interest margin (NIM) and…
The scope and attractiveness of alternative investments is increasing. Here’s a weekly tracker of returns from such investments. But don’t compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different. Gold (995) (Rs)Gold remained lacklustreduring the past week because the economic growth hope was neutralised by a softer dollar. Silver (Rs)Industrial demand for silver, mostly from electric vehicles, helped silver to gain 1% during the last week. ($/troy ounce)Platinum is used as a catalyst in the hydrogen fuel cell applications and it jumped up 4% due to increased demand for fuel cell…