Stop signs for taxi and contract rides on a street in Ha Noi. — VNS Photo Doan Tung The bumpy road thus far for ride-hailing companies Uber and Grab in Viet Nam could well end in a jagged cliff as authorities turn the scanner on their operations, tax practices and competition with domestic taxi operators. In the latest bust-up, on February 6 the HCM City People’s Court City began to hear a lawsuit filed by Anh Duong Viet Nam Jsc, better known as Vinasun Taxi, against GrabTaxi Vietnam Limited Liability Company (Grab). Vinasun’s argument is that it lost more than VND40 billion (US$1.78 million) in 2016 and the first half of 2017 because of Grab’s Illegal business operations in violation of the Law on Competition. Ta Long Hy, chairman of the HCM City Taxi Drivers Association, told the court that both Uber and Grab had suppressed local firms. Grab’s fleet of 28,000 vehicles as of 2017 was the reason why his and other taxi companies had to pull out more than 3,000 cars in HCM City alone from a total of 12,000. Since January 11 the Ha Noi Department of Transport has restricted Uber and Grab’s operations to certain streets – to match similar restrictions on traditional taxis — to ensure a level playing field. Thus, the two companies’ vehicles are not allowed on 13 main streets during certain hours, exactly the same as for regular taxis. Grab also slapped an extra 3.6 per cent fee on its drivers on… [Read full story]
HCM City - Financial inclusion has been an accelerating global phenomenon recently, with financial services being provided at affordable costs to disadvantaged and low-income segments to increase earnings, alternate social capital flow and promote economic growth, a conference heard on May 19 in HCM City. Speaking at 'Digital technology - the great engine of accelerating financial inclusion in Việt Nam,' Assoc Prof Nguyễn Kim Anh, deputy governor of the State Bank of Việt Nam, said: "Financial inclusion will contribute to implementing 7 out of 17 sustainable development goals by 2030 and poor countries might achieve breakthroughs in financial inclusion. "Digital…... [read more]
The boom in online shopping and home delivery in the country in recent years have also created many opportunities for e-logistics operator. - Photo baocongthuong.vn As one of the fastest growing e-commerce countries in the world, Viet Nam is considered a high-potential market for e-logistics, analysts have said. Viet Nam has an average annual growth rate of 35 per cent. The boom in online shopping and home delivery in the country in recent years have also created many opportunities for e-logistics operators, they said. In 2017 alone, over 50 domestic and foreign e-logistics providers entered the market, which is predicted…... [read more]
The total revenue from retail sales and services reached VND3.93 quadrillion (US$174.85 billion) in 2017, surging 10.9 per cent year-on-year, according to the General Statistics Office (GSO). Excluding inflation, the increase would be 9.46 per cent, higher than the growth rate of 8.33 per cent in 2016, GSO said. The growth showed that the people’s purchasing power was improving, contributing significantly to the gross domestic product (GDP) growth rate of 6.81 per cent this year, said GSO experts. The higher purchasing power of the people was due to the curbing of the consumer price index (CPI) at a low growth…... [read more]
Medical insurance cards. Some 38,000 students in Hà Tĩnh Province left out of this medical insurance service. — VNS Photo Huê Phong Viet Nam News HÀ TĨNH — The social insurance agency in the central province of Hà Tĩnh has revealed that some 38,000 students in the province have not registered for the school medical insurance service. The agency said 53,240 students of the total 91,044 students in schools around the province had registered for medical insurance, a compulsory healthcare policy for students. The rest, nearly 38,000 students, have not registered yet. That means they will be excluded from healthcare programmes that…... [read more]
HÀ NỘI – Việt Nam has remained an attractive destination for foreign investors in 2017 with total FDI capital registered in the country hitting a record high of US$35.88 billion, up 44.4 per cent against last year. Reports from the Foreign Investment Agency under the Ministry of Planning and Investment showed that of the sum, $21.27 billion came from 2,591 new projects, up 42.3 per cent against last year. Another $8.41 billion was added to 1,188 existing projects, 49.2 per cent higher than last year. The remainder of the FDI, worth $6.19 billion, came from 5,002 deals made by foreign…... [read more]
