Bad debts to hinder economic growth? (VEN) - Without efforts to resolve bad debts and accelerate the pace of restructuring of commercial banks and state-owned businesses, the Vietnamese economy will likely face a period of long and slow growth, claimed the Asian Development Bank … [Read more...] about Bad debts to hinder economic growth?
Bad debts meaning
Without a specific set of laws ruling the handling of bad debts, both banks and the Vietnam Asset Management Company have their hands full trying to resolve a mountain of bad debts. According to economist Le Xuan Nghia, banks have become the victim of defaulters, as the current … [Read more...] about Legal clarity called for to stem tide of bad debts
Mr. Nguyen Quoc Hung. Circular 02 on bad debt classifications and risk provisions will come into effect by April this year, Chairman of the Vietnam Asset Management Company (VAMC) Nguyen Quoc Hung has revealed. He made the announcement while talking to the local media about his … [Read more...] about VAMC to buy bad debts worth US$4.76 billion
In January the Government asked the State Bank of Viet Nam to draw up plans for establishing a national asset management company (AMC) and detailed regulations for its operations so that it can be set up in the first quarter. In January the Government asked the State Bank of … [Read more...] about Banks await State’s new bad debt manager
HCM CITY (VNS) — The Viet Nam Assets Management Company (VAMC) will realise its target of purchasing between VND70 trillion (US$3.17 billion) and VND100 trillion (US$4.74 billion)worth of bad debts this year, according to a source from Dau Tu (Investment) newspaper. The … [Read more...] about VAMC sets annual target for bad debt purchases