According to the proposal, the SBV law amendments would codify existing foreign exchange rules by incorporating Article 22 of the Foreign Exchange Ordinance into law. The draft also revises the central bank’s special financial mechanism, shifting authority over its financial management regulations from the Prime Minister to the Government.
Prime Minister Pham Minh Chinh has directed that maintaining macro-economic stability, controlling inflation, propelling growth and ensuring major balances of the economy continue to be priorities in February and coming months.
Domestic banks will continue striving to ensure business performance and deliver on commitments to investors while supporting clients amid difficulties this year.
The steering committee for the restructuring of credit organisations held a meeting in Hanoi on July 27 under the chair of Prime Minister Nguyen Xuan Phuc.
The banking sector is building a credit support programme with a value of 285 trillion VND (over 12.2 billion USD) for firms hit by the epidemic of the acute respiratory disease caused by the SARS-CoV-2 (COVID-19), in an attempt to help ease their difficulties, according to an official of the State Bank of Vietnam.
The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.
Vietnam’s economic restructuring and growth model reform in 2016-2020 have been benefiting from positive changes in policies and achievements in the 2011-2015 period, according to economist Nguyen Dinh Cung.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has stated that the SBV will continue stepping up administrative reform in the near future, with a focus on improving the business environment in monetary and banking fields, and corporate support.
A meeting held in Hanoi on May 10 discussed financial solutions for businesses amid the current context in which roughly 20 percent of firms in need of funding still have problems gaining access to credit.
Amidst the growing demands for microfinance in Vietnam, the potential of expansion for the sector is high, but experts have advised that microfinance organisations should work harder to develop in a sustainable manner.
The majority of lawmakers supported the expansion of the draft amended Anti-corruption Law’s scope to the non-State sector during the 14th National Assembly’s fifth session on June 13 in Hanoi.
Many banks throughout the country need to recruit more employees for their newly opened branches this year or to replace staff members who quit their jobs before the Lunar New Year (Tet) holiday.
Deputy Prime Minister Vuong Dinh Hue has suggested the Sumitomo Mitsui Banking Corporation (SMBC) invest in infrastructure construction in Vietnam while meeting with an executive of the Japanese bank.
The State Bank of Vietnam (SBV) has announced that it is finalizing a project on restructuring credit organisations and handling bad debt for the 2016-2020 period, to be submitted to the Politburo.
Prime Minister Nguyen Xuan Phuc hailed the SBV for its efforts over the last 65 years as contributing to curbing inflation, stabilising the macro-economy and maintaining stable growth for the country.
The Hiep Phuoc Industrial Park Joint Stock Company (HIPC) has introduced the project to build Hiep Phuoc Supporting Industrial Park to domestic and foreign investors in Ho Chi Minh City.
