Page 3 - Van Luc News Today

The digital transformation of the tax and customs fields has brought positive impacts to people and the business community, according to experts.

In recent years, Vietnam’s tourism industry has made great strides in both scale and service quality, becoming one of the important driving forces in the service sector, and contributing to sustainable economic growth.

VIRs seminar shed light on the challenges and the importance of well-defined legal frameworks for the tourism and resort real estate market, which currently faces deceleration despite substantial growth.

Vietnam’s decade-long quest to transition from a frontier to an emerging securities market underscores the pressing need for technological, regulatory, and risk management reforms to foster a robust and investor-centric ecosystem.

Foreign investors will likely put between $5 billion and $8 billion into Vietnamese securities if the local stock market is elevated to an emerging one from its current frontier status, a VinaCapital executive has said.

The race to lower deposit interest rates among banks is expected to continue until the end of 2023, according to analysts.

Vietnam, now classified as a “frontier market” by both the U.S.’s Morgan Stanley Capital International (MSCI) and the UK’s FTSE Russell, needs to meet the higher standards of these organizations to get its status elevated to an “emerging market”, writes Can Van Luc, chief economist at Hanoi-based BIDV bank.

Vietnam is swiftly revolutionising its financial sector by phasing out outdated card technologies, embracing non-cash solutions, and enacting laws to enhance security.

Real estate developers are set to launch a raft of products for the end of the year.

The State Bank of Vietnam (SBV) has said its new circular has enabled clients to better access credit loans, thus ensuring a fresh supply of capital for production and business.