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Vietnam: Credit card spending headed for 2020 decline

Annual credit card spending is expected to contract this year because of the coronavirus crisis, particularly for outbound spending, due to the government’s prohibition on cross-border travel. Credit card spending in the finance industry contracted by 14.2% year-on-year for the first five months this year. The shrinkage gradually improved from 40.1% in April to 27.6% […]

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Vietnam: Wage proposal made to facilitate upswing

Vietnam may break a 10-year trend by not increasing regional minimum wages for private businesses in 2021 to help ease the financial burden on those ailing from the pandemic. With nine of the 13 members voting in favour, the National Wage Council will propose the government not to increase the regional minimum wage in 2021, […]

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