Việt Nam will officially launch the VNX Allshare Index on October 24, combining the two existing local exchanges to boost foreign investment in the stock market.

Stock prices of many local start-up companies are valued extremely high, far above prices of large-cap shares on the two national stock exchanges, which demonstrates investor confidence in the high-growth potential of the Vietnamese startups.

The minerals and petroleum sectors have come out on top amongst corporate taxpayers on a list of 1,000 leading corporations, accounting for 30 per cent of total tax payments this year.

The Government should offer incentives to projects funded by overseas remittances, a conference on policies related to remittances heard in HCM City on Tuesday.

Việt Nam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) will hasten its restructuring efforts to overcome this difficult period, with more job cuts planned this year, local news reported.

The Government’s Small- and Medium-sized Enterprise Development Foundation (SMEDF) could provide support to startups in the form of venture capital and crowd funding, according to a draft decision.

Budget revenues reached VNĐ718.3 trillion (US$32.2 billion) in the first nine months of the year, accounting for around 70 per cent of the annual target, a representative of the Ministry of Finance told in its quarterly press briefing early this week.

Shares rose further yesterday as investors remained confident in companies with prospects of better performances in the third quarter of this year.

As the country moves toward deeper integration, banks are striving to improve their information and technology systems in order to catch up with new trends and to ensure customer safety. Globalisation and interconectivity come with information and technology risks. In addition, the presence of financial technology (fintech) also has reshaped the financial services sector.