Vietnam needs to reduce number of festivals held annually

The jitters and panic caused by the sudden eruption and virulent spread of the highly contaminable coronavirus across the globe has called for an indefinite delay or total halt of several important public events.

Difficult to reduce interest rates in 2020

In 2019, interest rates were adjusted by several measures taken by the State Bank of Vietnam (SBV), and interest rates have fallen in certain segments. In 2020, interest rate reduction is forecast to happen only if commercial banks show healthy operations by reducing capital costs.

QCG - Victim of unsubstantiated rumours

Even after ten years of listing on HOSE, investors holding shares of Quoc Cuong Gia Lai Joint Stock Company (QCG) are confused because of unsubstantiated and ambiguous information being sent out by the company. In the current real estate market, QCG is now on a downhill trend and expectations from the company are almost defunct.

(Photo: ABS-CBN)

SWS: 7 of 10 Filipinos worried by presence of Chinese workers

The rising presence of Chinese workers in the country worry seven out of 10 adult Filipinos, according to the latest Social Weather Stations (SWS) survey, as the government recently launched a crackdown against Philippine offshore gaming operators (Pogos) which mostly employ Chinese nationals.
Overseas remittances to HCMC exceed US$4 billion

Overseas remittances to HCMC exceed US$4 billion

According to the State Bank of Vietnam, by the beginning of December this year, overseas remittances to Ho Chi Minh City have exceeded US$4 billion and are expected to continue to climb quickly during peak time of the last month of this year.

Because codotel is a kind of tourism business, it has to obey the Law of Tourism.

Condotel projects lack legal framework

In a talk with Saigon Investment on the current status of condotel projects, also known as Condo Hotels, Dr. Vu Dinh Anh, shared the opinion that this condominium style was being considered as an unmanageable project due to its inability to assign specific responsibilities to various government agencies.

Condotel projects investors often choose prime coastal locations to attract investors.

Unclear issues in condotel projects

The failure of the Condotel Cocobay project is causing panic among investors to participate in any further condotel projects. Is this the corollary of the model or is it just one single isolated case? Saigon Investment had a talk with Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association on this matter and other related issues.

Customers are being served at DongABank.

Resolve internal matters within banking system

In a discussion with Saigon Investment, Dr. Nguyen Tri Hieu, a finance and banking expert, said that the impact this time of the interest rate reduction is not much, and in order to bring it to a common ground, we must resolve and settle internal matters within the banking system.

Illustrative photo.

Lower interest rates not yet sustainable

It comes as welcome news to many companies after the State Bank of Vietnam (SBV) decided to lower interest rates on loans with terms of less than six months, and for other preferential areas by 0.5%. However, banks still need constructive restructuring to meet with Basel II standards.

Customer is being served at SeABank.

Debt and costs eroding profits at SeABank

SeABank was once ranked by The Asian Banker among the top 15 banks in Vietnam and among the top 500 strongest banks in the Asia-Pacific region. Recently it has also been approved by the State Bank of Vietnam (SBV) to apply for standards for Basel II.

Illustrative photo.

VSP-A Stranded Ship

The difficulties faced by the shipping industry in the aftermath of the economic crisis in 2008 also brought about many complications for the Viet Hai Shipping & Real Properties Corporation  Limited (VSP). Adding to this, ineffective restructuring efforts also contributed to pushing this business onto a pile of bad debt.

Reunification Palace, a place for domestic and foreign tourists. Photo: LONG THANH

Developing a tourism brand for Ho Chi Minh City

In order to gain a wider perspective of the idea to develop a tourism brand for Ho Chi Minh City and other related tourism products to lure more visitors to the City, Saigon Investment had an interesting and candid interview with Mr. Tran Hung Viet, Chairman of the Ho Chi Minh City Tourism Association.