The move by the four state-owned banks was followed by joint stock banks. The 7 percent interest rate is no longer seen in the bank’s interest rate table. The current highest interest rate is 6.9 percent per annum, applied to 15- and 18-month term deposits. … [Read more...] about Capital in oversupply, banks slash interest rates
Reduction in business rates
Experts believe that Vietnam should follow a gradual opening roadmap instead of an immediate opening to protect its great achievements in fighting against Covid-19. However, though economic relations were not shut down, the countries’ application of measures to fight against COVID-19 has hindered production, import/export and travel activities. … [Read more...] about How should Vietnam reopen to other economies after COVID-19?
Hanoi (VNA) - Legislators gave opinions on June 12 on the draft socio-economic development programme for ethnic minority-inhabited and mountainous areas in the 2021-2030 period, identifying the need to initially allocate funding to priorities. It was part of the ongoing ninth session of the 14th National Assembly in Hanoi. Hoang Thi Thu Trang, a deputy from north-central Nghe An province, said the Government estimated the budget for the programme implementation in 2021-2025 at 114.97 trillion VND (over 4.9 billion USD), including at least 104.95 trillion VND from the central budget and more than 10 trillion VND from budgets of the targted provinces and cities. She noted that funding from the central budget is already difficult but it is even harder for localities to arrange corresponding capital because most beneficiary provinces are poor and still subsidised by the central budget. To ensure the implementation of the programme and prevent wastefulness, it is necessary to select … [Read more...] about Legislators discuss development programme for ethnic minorities
Hùng said that the Lao economy was slowing down with risks of increasing inflation and public debt due to the impacts of the virus, adding that the Lao Government kicked off a number of measures to stimulate investment, production and business in an effort to support firms. … [Read more...] about Vietnamese investors in Laos discuss measures to cope with COVID-19
Trần Thanh Hải, deputy director of the Import and Export Department under the Ministry of Industry and Trade, said that value of agricultural products is low while transportation costs are high. Besides that, agricultural products need cold storage and professional transport vehicles. These two factors have also put great pressure on logistics activities for agricultural products. … [Read more...] about State needs solutions to reduce logistics cost for farm produce