Europe firms may purchase 49 percent in local banks Business

Europe firms may purchase 49 percent in local banks

The Vietnamese Government may allow European financial firms to buy up to 49 percent of only two local commercial banks, Nguyen Thi Thu Trang, Director of the WTO Integration Centre at the Vietnam Chamber of Commerce and Industry, said on October 23.
Banks report higher profits Business

Banks report higher profits

Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.
Former VSS heads imprisoned for economic mismanagement Society

Former VSS heads imprisoned for economic mismanagement

Le Bach Hong, former Deputy Minister of Labour, Invalids and Social Affairs and former General Director of Vietnam Social Security (VSS), was sentenced to six years in prison by the Hanoi People’s Court on September 25.
Former heads of Vietnam Social Security brought to court Society

Former heads of Vietnam Social Security brought to court

Six defendants charged with “deliberately violating the State’s regulations on economic management, causing serious consequences” at the Vietnam Social Security (VSS) and the Agribank Financial Leasing Company No. 2 (ALC II) were brought to court on September 18.
Vietnam, Cambodia’s central banks look to foster partnership Business

Vietnam, Cambodia’s central banks look to foster partnership

Leaders of the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) met in Phnom Penh on September 16 at an annual conference to share experience in macro-economy management, especially in finance-banking, and seek ways to strengthen cooperation in personnel training.
Former leaders of Vietnam Social Security to stand trial in September Society

Former leaders of Vietnam Social Security to stand trial in September

The People’s Court of Hanoi will hold the first instance trial from September 18-24 for six defendants in the case of “deliberating violations of State economic management regulations, causing serious consequences” at the Vietnam Social Security (VSS) and Agribank Financial Leasing Company No 2 (ALC II).
93 SOEs to be equitised by 2020 Business

93 SOEs to be equitised by 2020

Prime Minister Nguyen Xuan Phuc has signed a decision approving a list of 93 State-owned enterprises which will be equitised from now to the end of 2020.
Politburo issues disciplinary warning against former Deputy PM Politics

Politburo issues disciplinary warning against former Deputy PM

The Political Bureau of the Communist Party of Vietnam Central Committee on July 19 decided to issue a disciplinary warning against Vu Van Ninh, former member of both Party Central Committee and Government’s Party Civil Affairs Committee and former Deputy Prime Minister.
Central bank to keep monetary policy on hold through 2019 Business

Central bank to keep monetary policy on hold through 2019

The State Bank of Vietnam (SBV) will hold its benchmark refinancing and discount rates at 6.25 percent and 4.25 percent, respectively, in addition to maintaining its 14 percent credit growth target for the remainder of 2019, experts forecast.
Inspection commission asks for discipline to ex-Deputy PM Politics

Inspection commission asks for discipline to ex-Deputy PM

The Party Central Committee’s Inspection Commission has proposed the Politburo to consider and take disciplinary action against Vu Van Ninh, former member of the Party Central Committee and former Deputy Prime Minister, for his violations committed while holding different positions.
Credit growth expanded 7.33 percent in H1 Business

Credit growth expanded 7.33 percent in H1

The banking sector reported a credit growth of 7.33 percent in the first half of this year compared to the end of 2018, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.
Forex reserves reach highest level to date Business

Forex reserves reach highest level to date

The State Bank of Vietnam (SBV) obtained a large amount of foreign currencies in the first half of 2019, pushing foreign exchange reserves recorded in the period to the highest level to date.