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Vietnam’s early efforts to weather the COVID-19 storm have helped its economy to reopen much sooner than others, with many sectors that have suffered badly from the outbreak – from retail to finance –now recovering with poise.
The overall consumer credit market slowdown in 2018 could have sent FE Credit in to slower growth, but the consumer finance company expects to conclude the year with rather upbeat results, whilst preparing for a gentler pace (in percentage terms), but more sustainable growth in the years ahead.
The face of retail banking in Vietnam is changing due to digitalisation, prompting banks to restructure themselves in a way to meet the demands of customers and bringing the payment experience to a whole new level with their virtual facilities.
Alongside the support that Luxembourg has brought to the Vietnamese capital market with a focus on sustainable financing for development, the Western European nation is also hoping to become the bridge to connect European and Vietnamese financiers.
South Korean investors are seeking further funding opportunities in Vietnam’s capital market and are keen to dive in, providing the country further strengthens existing legal frameworks in order to support an efficient capital market.
Investors are being urged to hold back on moves into Agribank after its initial public offering was postponed until 2020, adding to the list of equitisation delays of state-owned enterprises.
Delayed projects funded via official development assistance will receive a capital boost after the National Assembly agreed to swell Vietnam’s foreign debt cap by VND60 trillion ($2.6 billion) for medium-term public investments.
Expats working in Vietnam are currently enjoying over $90,000 in average annual income, with the country scoring in the 19th place for best countries to live and work and the first place when it comes to saving more and having more disposable income.
ANZ has celebrated its 25th anniversary in Vietnam, reviewing its contributions to the country’s growth over this time and making further commitments to journey along with the country in the next 25 years and after.
Moody’s Investors Service has changed its 12-18 month outlook on the Vietnamese banking system to Ba3 stable from positive.