On May 7, the SBV issued guidance for Vietnam Bank of Social Policies to provide loans at 0% interest rates with worth a total of VND16 trillion (US$686.42 million) for customers directly affected by the pandemic and businesses in paying salaries and wages for furloughed staffs. … [Read more...] about Vietnam credit growth slows to 2.13% in 6-month period
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Credit grows slowly, but banks still make profits
At a meeting with commercial banks in late April, Governor of the State Bank of Vietnam (SBV) Le Minh Hung reported that as of March 31, credit provided to the national economy had increased by 1.3 percent compared with the beginning of the year, the lowest Q1 credit growth rate in the last six years. … [Read more...] about Credit grows slowly, but banks still make profits
FPT launches app for extracting information from document photos
Hanoi (VNA) – Telecom group FPT’s affiliate FPT Smart Cloud has officially launched FPT.AI Reader, a solution for identifying and extracting information from images on identification documents, with an accuracy rate of 98 percent. … [Read more...] about FPT launches app for extracting information from document photos
VN central bank’s VND16 trillion aid receives lackluster response from employers
Employers qualifying for the program must pay 50% of the basic wage in advance and they can take out loans at just 50% (less than VND2 million) for each staff member. For instance, a company with 100 workers can borrow only VND200 million. Therefore, many firms have shifted to other credit sources, An explained. … [Read more...] about VN central bank’s VND16 trillion aid receives lackluster response from employers
Big players enter Vietnamese stock market
VinaCapital, in its report about attracting FII (foreign indirect investment) to Vietnam, said that Vietnam has the opportunity to lure huge investment capital in post-Covid-19 period as central banks may print $6 trillion more in 2020 through quantitative easing programs. VinaCapital, in its report about attracting FII (foreign indirect investment) to Vietnam, said that Vietnam has the opportunity to lure huge investment capital in post-Covid-19 period as central banks may print $6 trillion more in 2020 through quantitative easing programs. … [Read more...] about Big players enter Vietnamese stock market
