SBV urges curb on loans for non-production activities
The SBV has asked Chairpersons of the People’s
Committees of provinces and cities to instruct SBV branches and credit
organisations in the localities to keep loans to non-production sectors.
The State Bank of Vietnam (SBV) has asked Chairpersons of the People’s
Committees of provinces and cities to instruct SBV branches and credit
organisations in the localities to keep loans to non-production sectors
such as real estate and securities at reasonable levels.
In a document issued on March 1, the central bank also urged its branches and credit organisations to improve credit quality to focus capital on production and business activities in the areas of agriculture, rural areas and export.
The leaders of the provincial and city People’s Committees were asked to instruct relevant departments and agencies to inspect gold and forex trading activities as well as apply strict punishments on speculations and any violations of regulations on this field./.
In a document issued on March 1, the central bank also urged its branches and credit organisations to improve credit quality to focus capital on production and business activities in the areas of agriculture, rural areas and export.
The leaders of the provincial and city People’s Committees were asked to instruct relevant departments and agencies to inspect gold and forex trading activities as well as apply strict punishments on speculations and any violations of regulations on this field./.
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
