Visa Vietnam said last month that its mVisa, a quick response (QR) code-based payment service, will soon be expanded to merchants and consumers in 10 countries, including Vietnam.
Sean Preston, Visa country manager for Vietnam, Cambodia and Laos talks about consumption in Vietnam (Photo: VNA)
HCM City (VNA) - Visa Vietnamannounced at the end of March that its mVisa, a quick response (QR) code-based payment service,will soon be expanded to merchants and consumers in 10 countries, including Vietnam. mVisa is a mobile payment solution that brings thebenefits of easy and secure digital commerce to financial institutions,merchants and consumers, helping accelerate global migration from cash toelectric payments. The new payment service will also help merchants reducetheir investments in expensive point-of-sale infrastructure. Sean Preston, Visa country manager for Vietnam, Cambodiaand Laos, announced that his company was working with banks and merchants sothat the service could come out late this year. On the same day, Visa announced its 2016 Consumer PaymentAttitudes Study, which said that consumers in Vietnam were increasingly leavingtheir cash at home, with 62 percent preferring to use electronic payments. “When asked why they are carrying less cash the majorityof consumers said this was because of greater usage of cards and safety concernof carrying cash,” the study said. Visa said that its findings come on the back of anannouncement that the Vietnamese Government plans to make transactions almosttotally electronic by 2020. The company’s survey also showed that 83 percent ofrespondents said they shopped online at least once a month, an increase of 11 percentover 2015. It also uncovered positive attitudes towards some of theless frequently discussed aspects of electronic payments. For instance, 77 percent of Vietnamese respondents had afavourable view of services that use automated payments to eliminate thephysical process of paying, such as taxi apps. In addition, 72 percent said that they were comfortablewith the use of biometrics such as fingerprints and face recognition forpayment authentication. The survey, conducted in October last year, was an onlinestudy of payment behavior and trends across Singapore, Malaysia, Thailand,Indonesia, Vietnam and the Philippines. Respondents were people above the age of 18 with amonthly personal income of 5 million VND and above.-VNA
The Directorate for Roads of Vietnam (DRVN) has asked the Ministry of Transport for permission to test cashless toll collection on one-stop toll highways.
Deputy Prime Minister Vuong Dinh Hue has signed a decision encouraging cash-free transactions in Vietnam in order to reduce the number of cash-based deals and control tax evasion.
The Prime Minister recently ratified a project to stimulate non-cash transactions in 2016-20 with a view to reducing the cash transactions rate to under 10 percent.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Sean Preston, Visa country manager for Vietnam, Cambodia and Laos talks about consumption in Vietnam (Photo: VNA) 
