Deposits at banks modest due to low interest rates A person arranges stacks of Vietnamese banknotes. Capital has been poured into other sectors rather than banks due to their low deposit rates According to the Department of Credit for Economic Sectors under the State Bank of Vietnam, in the first quarter of this year, the deposit growth reached only 0.54%, well below the credit growth of 2.93% and the average deposit growth of 2.28% in the first quarter of the past seven years, Lao Dong newspaper reported. At present, the rate for savings of less than six months is 3%-4%. Meanwhile, tenors of six to less than 12 months and over 12 months enjoy a rate of 3.5%-5.5% and 4.6%-6%, respectively. Although some banks have revised up their deposit rates by 0.1-0.4 percentage points, the banks’ average deposit rate in the first quarter remained some 2 percentage points lower than that in the same period last year. If the trend continues, the banking system’s liquidity will no longer be ample this year, according to Bao Viet Securities Company. Meanwhile, the General Statistics Office stated that capital had been injected into other sectors, with life insurance premium soaring 11%. Meanwhile, the securities market mobilized nearly VND55.6 trillion, surging 42% over the same period last year. Pham Lam, vice chairman of the Vietnam Association of Realtors, attributed land fevers over the past few months partly to residents’ idle money and their expectations of higher prices of real estate products. According to Dao Minh Tu, deputy governor of the central bank, as of mid-March, banks’ outstanding loans for the property sector grew 2.13%, higher than the current credit growth of 2.04%, despite the central bank’s close control over credit for the sector. Market rebounds, VN-Index returns to 1,250 point-level Shares settled higher on Wednesday, reversing their morning course on recoveries of materials and banking stocks. The benchmark VN-Index …
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Luxury mixed-use development Q2 Thao Dien ready for handover by this April
Q2 Thao Dien will be put into operation this April Developed by Frasers Property Vietnam in partnership with An Duong Thao Dien Real Estate Trade JSC, Q2 Thao Dien is developed under the unique “Live – Work – Enjoy” concept with a variety of products including apartments, villas, townhouses, commercial shops, and office building, offering a diverse range of options for residents and investors. According to Truong An Duong, general manager of residential, Frasers Property Vietnam, Q2 Thao Dien meets the requirements for an ideal living space, forming a very distinctive highlight in comparison to other projects in the market. “We are unified by the group’s shared purpose – 'Inspiring Experiences, Creating Places for Good', we wish to make Q2 Thao Dien to be an iconic project, a dynamic and trending new destination where residents can experience a convenient lifestyle – shopping, entertainment and work, all in one place,” Duong stressed. Inspiring experiences in enjoying life and working space With the dedication of an experienced international real estate developer, the project is built on schedule to the most rigorous standards. Up to now, all apartments, office and commercial areas are completed and ready to welcome owners and businesses to move in. In particularly, project amenities are developed with a focus on every single detail, granting future owners the opportunity to enjoy the best experiences for years to come. At Q2 Thao Dien, the luxury apartments present open views of the Saigon River with classy amenities such as swimming pool, jacuzzi, a floating gym, hanging gardens, an outdoor barbecue area, and more. Floating gym at Q2 Thao Dien Adjacent to the apartment complex, just a few steps away is the premium and stylish [email protected] office tower. The 32-storey building boasts a modern design with open space, high ceilings, and gorgeous river views. This architecture gives tenants to create a unique and inspiring duplex …
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Cai Mep – Thi Vai port receives vessel destined for West Coast of US
At the Cai Mep-Thi Vai port cluster in Ba Ria - Vung Tau (Photo: VNA) Hanoi (VNA) - Deep-sea port SP-SSA International Terminal (SSIT) in the Cai Mep-Thi Vai port cluster in the southern province of Ba Ria-Vung Tau berthed MP The Belichick - a container vessel operated by Swiss logistics firm Mediterranean Shipping Company (MSC) on April 13. The ship is destined for the US’s West Coast under a newly launched container service called Sentosa. It embarked from Singapore and travels through Thailand’s Laem Chabang City and Ba Ria-Vung Tau to Long Beach City in the US’s Pacific Southwest, and will return to Singapore through China’s Shanghai, Ningbo and Xiamen cities. The route aims to connect Southeast Asia with markets in southwestern Pacific, thus further promoting trade activities between the two regions. Despite severe impacts posed by the COVID-19 pandemic on the global economy, Vietnam’s exports still recorded positive results, even breakthroughs. As the demand for export to the US has risen sharply, MSC has put the above-mentioned service into operation to satisfy the demand. According to the General Statistics Office, the US remained the largest importer of Vietnamese goods in the first quarter of 2021, with turnover of 21.2 billion USD, up 32.8 percent year-on-year./. VNA …
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