In addition, the cross-ownership among CIs is also handled thoroughly. The direct cross-ownership between pairs of CIs was removed from the end of 2019 while there is only one pair of a CI and a firm directly owning shares of each other compared with 56 pairs in 2012. … [Read more...] about Vietnam’s credit institutions must speed up restructuring to meet deadline
Authorized users build credit
Vietnam credit growth slows to 2.13% in 6-month period
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
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
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
Science and technology one of the country’s major policies: official
After the congress, Party branches from central to local levels, as well as all Party members and cadres, will have to immediately implement the Resolution of the 13th Congress. Each Party member, each branch, field, and locality will have to develop an innovative way to implement the Resolution, build a detailed, feasible action plan for rapid and sustainable economic and social development, in order to contribute to the development of the country. VNS … [Read more...] about Science and technology one of the country’s major policies: official
