Shinhan Card and Lotte Card, which had both ventured into Vietnam in search of a new growth driver, are now struggling with annual losses due mainly to the prolonged high interest rates wreaking havoc on the local economies of the Southeast Asian country. In response, both credit companies have been focusing on digital solutions as strategies to attract young customers.
HANOI: Reform in the business environment is tending to slow down, some fields are even creating additional barriers, causing more difficulties and increasing compliance costs for people and businesses, exposing businesses to more risks, according to the former Director of the Central Institute for Economic Management Nguyen Dinh Cung.
David Dapice is a Senior Economist in the Ash Center for Democratic Governance and Innovation at John F. Kennedy School of Government, Harvard University.
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