Bitcoin has become a focal point globally with prices skyrocketing. On large bitcoin trading floors such as Bittrex, poloniex.com, wex.nz, the number of accesses from Vietnam is in the top 5.

The Vietnam Private Sector Forum (VPSF) will try to create a space for businesses to voice out their proposals. 

According to the General Statistics Office (GSO), in the fourth quarter of 2017, 44.8 per cent of firms reported better business performance in Q4 than Q3.

After a strong rally of 30 per cent in stock price over the past four months, Mobile World Group (ticker MWG) saw back-to-back divestments from numerous of foreign funds.

Vietnamese firms were urged to increase their focus on intangible assets to strengthen brand value at a recent conference jointly held by Brand Finance and its local representative Mibrand Vietnam in Hanoi.

The State Bank of Vietnam (SBV) has officially extended a policy allowing exporters to take loans in foreign currencies for another year instead of stopping it on December 31 as planned.

Calls for investing in bitcoin are numerous on the internet, with many ‘secret societies’ set up persuading people to deposit bitcoins.

VietNamNet Bridge - Vietnam plans to list 10 banks on the stock market this year, but only four have implemented the listing so far. Others are still consulting with shareholders.

To obtain a 20 percent credit growth rate this year, total outstanding loans will have to increase by VND1,200 trillion. In the last five last months of the year, VND700 trillion is expected to be pumped into circulation.

VietNamNet Bridge - Sacombank and VP Bank are leading the list of banks with the highest NPL (non-performing loans) ratios.

VietNamNet Bridge - Twenty e-wallet service providers have opened since since the State Bank began licensing the service two years ago. But only several million people are using e-wallets.

People are rushing to buy bitcoin mining machines. Bitcoin ATMs can be found at some cafes in HCMC. Numerous calls for investments in bitcoin have appeared on the internet. And some travel firms accept payments in bitcoin.

Vietnamese can buy bitcoin and other virtual currencies on some trading floors, but as Vietnam doesn’t recognize bitcoin as an official currency, Vietnamese are facing risks when conducting transactions.

The skyrocketing price of bitcoin is creating frenzied trading. The price in Vietnam is rising in line with the world price, with the gap between buy and sell prices up to tens of millions of dong per bitcoin. 

VietNamNet Bridge - Current monetary policies and the strong rise of the stock market have prompted people to pour money into production and investments.

VietNamNet Bridge - State management agencies still have not agreed on a way to manage bitcoin and other kinds of digital currencies.

VietNamNet Bridge - Both Vietnamese and foreign investors say they are willing to buy assets linked to bank debts. 

VietNamNet Bridge - The Tin Thanh Group has bought Oakwood State Bank in the US and has changed its name to Tin Thanh Oakwood Bank Corp. 

VietNamNet Bridge - Around one out of every two Vietnamese borrows money on credit, according to StoxPlus. 

A number of valuable properties such as real estate projects, machinery and equipment worth up to trillions of dong have been distrained and brought to auction by commercial banks. Debtors are also selling their assets to pay debts.