The State budget revenue was estimated at 543.4 trillion VND (over 23.7 billion USD) in the first four months of 2021, equivalent to 40.5 percent of the estimate and up 7.3 percent from a year earlier, said the Ministry of Planning and Investment (MPI).
With borders closed and travel restricted since early 2020, cross-border e-commerce has proved itself as a game changer, setting the scene for Vietnamese traders to climb up the global supply chain and reducing risk of disruption caused by an unprecedented crisis like COVID-19.
Vietnam’s e-commerce market is attractive to both domestic and foreign investors – however, there are no specific regulations on foreign investment in this sector. In an effort to enhance the legal framework, the government has recently released a draft of a new decree amending Decree No.52/2013/ND-CP on e-commerce. Partner at Allens Law Firm Linh Bui points out the changes under the draft decree.
The “product-focused” business philosophy faces challenges, forcing banks to switch to “customer-centric” operations and build a digital ecosystem that fufils customers’ needs. Dam Nhan Duc, head of Research and Development of the Military Commercial Joint Stock Bank (MB) looks into the essence of this transformation.