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Nghiem Xuan Thanh, Chairman of the Board of Directors, Bank for Foreign Trade of Vietnam (Vietcombank); Phan Duc Tu, CEO, Bank for Investment and Development of Vietnam (BIDV); Natasha Ansell, Country Officer, Citibank Vietnam; and Pham Hong Hai, CEO, HSBC Vietnam: Interview
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Interview:Nghiem Xuan Thanh, Phan Duc Tu,Natasha Ansell and Hong Hai How is the Vietnamese banking sector adjusting to the Basel II recommendations and regulations? NGHIEM XUAN THANH: The central bank has selected 10 commercial banks that will be required to implement Basel II by 2018. When complying with Basel II, the risk-weighted assets will increase, leading the bank’s capital adequacy…

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Efforts to ease restrictions puts Vietnam's financial sector in good position for growth
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Robust economic growth, the easing of restrictions on foreign bank ownership and increasing technological sophistication have added to the dynamism of the Vietnamese banking sector in recent years, as the industry puts the mini-crisis of 2012 behind it. Recent years have been characterised by substantial credit growth, as well as ongoing measures to address bad debt. Banking penetration is relatively…

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Vietnam's government works to improve state's balance sheet
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Rising public debt and persistent budget deficits are among the greatest downside risks to what is otherwise a generally robust economic outlook for Vietnam. According to official figures, public debt came in at 64.73% of GDP in 2016, just below the 65% ceiling set by the National Assembly, despite government revenues coming in 7.8% above target. With this in mind the government’s budget and financial…

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Trinh Thanh Can, CEO, ACB Securities
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Interview:Trinh Thanh Can What effects can we expect from new regulations in Vietnam, such as Decree 60? TRINH THANH CAN: Decree 60 is a legal breakthrough that relaxes the foreign ownership limit for listed companies. It was expected to encourage new foreign institutional investor funds to invest in the listed market and help upgrade the Vietnamese equity market. It showed the government’s…

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Vietnam's insurance sector expansion continues, while market becomes more competitive
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Strong economic growth and demographic change are catalysing the rapid expansion of the Vietnam’s insurance sector, with premiums growing at double-digit rates and likely to do so for some years to come. Thanks to successive liberalising reforms since the 1990s, a range of foreign insurers and investors are benefitting from this growth, and competition looks set to grow as new entrants eye the opportunities…

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Record visitor numbers to Vietnam indicate bright future for tourism sector
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Offering 3200 km of coastline and spectacular white sand beaches, mountainous highlands popular with adventure tourists and a vast array of cultural, historic and culinary attractions, Vietnam has seen its tourism sector become a major economic growth driver in recent years. The sector has recorded positive performances across the board including international arrivals, domestic tourists, revenues,…

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Regulatory changes and new options in Vietnam's capital markets boost activity and foreign investment
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With economic growth, solid corporate earnings and a rising need for financing among domestic companies boosting stock markets and stimulating private equity activity, Vietnam’s capital markets have grown steadily in recent years. A wave of equitisation of state-owned enterprises (SOEs) is boosting the sector further, while a growing range of indices are broadening options for investors. A new unified…

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Vietnam continues to liberalise its industrial base and manufacturing sector
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On the back of sound economic growth, a continuing inflow of foreign direct investment (FDI) and a healthy labour force, the industrial base in Vietnam has been steadily expanding over the past two decades, with export-orientated manufacturing playing a major role within the overall economy. The potential for manufacturing in Vietnam is much higher than it was just five years ago. A process of natural…

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Keeping pace with Vietnam's power demand requires some changes
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Substantial hydrocarbons and hydropower resources have allowed Vietnam to be largely energy self-sufficient and supported rapid economic growth. Exploitation of its coal and the harnessing of rivers for hydropower has helped Vietnam meet double-digit growth in demand for power, providing almost universal electricity access to its people. Development of the country’s oil and gas reserves has seen…

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Food producers in Vietnam look to modernise due to pressure on exports
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As the economy has industrialised the share of agriculture to GDP has more than halved – from 40% in the mid-1980s to around 16% in 2016. Nevertheless, the agriculture sector remains crucial for Vietnam’s development as it continues to employ nearly half of the workforce. This has meant that swings in commodity markets and the environmental effects stemming from climate change have the potential…