Last week, the G7 countries agreed on a historic deal for a global minimum corporate tax rate for international companies.

In a meeting with the Ministry of Science and Technology last month, Prime Minister Pham Minh Chinh opined that “it is necessary to design appropriate institutions, mechanisms, and policies so that thousands of businesses and the whole of society can participate in promoting the development of science and technology.”

While Vietnam’s insurance penetration rate is still low compared to regional peers, the lucrative sector offers high-yield returns for both investors and participants.

The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a vast messaging network used by banks and other financial institutions to quickly and securely send and receive information, such as money transfer instructions.

Vietnam is a country where internet users account for more than half of the country’s population and this is expected to increase sharply in the coming years.

Digital healthcare is being touted as the main route towards improving care and also lowering costs. Managing director and national head of Healthcare Luke Treloar and Vo Thi Kim Ngan, associate director at KPMG’s Global Strategy Group, share their thoughts on the beneficiaries of digital health transformation and how ready the policies in Vietnam are on this issue.

KPMG Vietnam, in collaboration with Sanofi Vietnam, on August 21 organised an e-conference introducing The Power of Self-care in Achieving Health-for-All report, making it the first bespoke discussion paper on the topic of self-care in Vietnam.

On July 7, KPMG Vietnam in conjunction with Pharma Group organised a dialogue to discuss the potential and challenges of Vietnam in unlocking world-class healthcare.

Under the strategic partnerships with Saigonchildren, Microsoft Vietnam, and Dariu Foundation in Vietnam, KPMG delivered the first round of 50 laptops donated from its staff across offices in Hanoi, Ho Chi Minh City, and Danang to school students selected by Saigonchildren and Dariu Foundation.

COVID-19 has turned everyday life upside down. With the situation changing daily, businesses must act with integrity and empathy to navigate the current challenges and retain their customers when the crisis ends.

Vietnam’s foreign investment picture in the first quarter of 2020 showed the hardest downtrend in over a decade since the 2003 SARS pandemic, as the current coronavirus continues to thrash manufacturing, real estate, retail, services, and tourism. However, there is light at the end of the tunnel.    

The pressure to increase capital and modernise governance are becoming a focus for many financial institutions. In this context, several organisations have actively implemented important requirements under Circular No.13/2018/TT-NHNN covering a broad range of critical aspects of governance, risk management, internal control, internal capital adequacy assessment procedure (ICAAP), and internal audit. As a leading international consulting & audit firm in Vietnam, KPMG closely follows this trend in the Vietnamese banking system. According to KPMG, TPBank has put serious effort and resources into complying with Circular 13’s ICAAP requirement and to have met ICAAP’s stringent international standards. Pham Do Nhat Vinh, director of Financial Risk Consulting Services at KPMG Vietnam, gives some exposure to TPBank’s case and local credit institutions’ movements in this regard.

A major annual tax and legal event which took place across Vietnam’s biggest cities last week has covered recent tax and legal developments and updates, which are particularly significant for foreign direct investment companies in the country.

Dealmaking activity in Vietnam is likely to maintain its momentum as more companies plan to divest assets amid the escalation in the US-China trade dispute.

Financial services firm KPMG Vietnam believes that an inclusive environment is always good for business.