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Between VND150-200 trillion ($6.4-8.5 billion) in bonds are set to mature this year, and if the bond market is left to self-regulate, systemic risks could spread to the banking sector and the entire financial market, Cuong told VnExpress in an interview. Although Vietnam concluded 2022 with a strong post-pandemic recovery, several financial problems plagued the economy last year, among them bond market issues . As there were many high-profile arrests due to alleged misconduct in bond issuance, companies prematurely redeemed VND210.57 trillion worth of their own bonds last year, up 46% from 2021. Although the market could be left to fix its own problems, Cuong said that it is recommended that the government intervenes with policies to ensure post-pandemic recovery, as one problem in the market could shake the market in a major way this year. He added that in the 2008 financial crisis, the U.S. government initially let the market corrects itself, but after Lehman Brothers … [Read more...] about Vietnam government should intervene in bond market: ADB economist

The top legislator praised the efforts and initiatives by the audit sector to fulfil its tasks last year, saying that it contributed importantly to great achievements of the country in general, as well as the N.A. and the Government in particular. He noted that the SAV has done a good job in assisting the N.A.'s supervision work, especially in inspecting the implementation of policies and laws on thrift practice and anti-wastefulness. The N.A. leader also commended the SAV on its external activities. The agency has maintained cooperation mechanism with the state audit agencies of Laos and Cambodia, and made important contribution to the Asian Organization of Supreme Audit Institutions (ASOSAI) and the ASEAN Supreme Audit Institutions (ASEANSAI). The top legislator said the Party and State expect that the SAV will play a more crucial role in the fight against corruption and negative phenomena, and in thrift practice and wastefulness prevention, contributing to strengthening … [Read more...] about N.A. leader lauds State Audit Office’s crucial contributions

This year, the Lunar New Year comes earlier, with the joy from the country’s economic recovery from the COVID-19 pandemic. The typical features of Tet include “banh chung”, red couplets, apricot blossoms, and peach blossoms, which are present along streets everywhere. For those who are far from home, the Lunar New Year is an opportunity to return and reunite with family members, visit parents, relatives and friends, and wish each other a peaceful, healthy and happy New Year. As for expats living in Vietnam and tourists in the country during this occasion, the traditional Lunar New Year is a unique holiday, giving them truly memorable experiences. The Tet atmosphere seems more bustling this year as the country has reopened its borders to welcome international visitors since last March. The Lunar New Year is fast approaching. Some may feel nostalgic about many things from the old year, but it is time to temporarily put aside such thoughts and welcome a New Year with … [Read more...] about Vietnamese Tet inspires foreigners