Credit declines sharply due to COVID-19 Business

Credit declines sharply due to COVID-19

Credit grew only 1.96 percent as of May 29 as compared with late 2019, due to the impact of the COVID-19 pandemic, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.
Laos not immune to global economic crisis: WB ASEAN

Laos not immune to global economic crisis: WB

Laos’ economic growth is projected to decline in 2020 due to the impact of the COVID-19 pandemic and measures to contain its spread, unveiled a World Bank report on the country’s growth and debt in the year.
Remittances to Cambodia drop sharply due to COVID-19 ASEAN

Remittances to Cambodia drop sharply due to COVID-19

Cambodia is to join the ranks of declining overseas worker remittances this year after the World Bank projected global remittances will decline sharply by about 20 percent in 2020 because of the economic crisis induced by the COVID-19 pandemic and consequent business shutdowns.
HCM City aims to improve production of major industries Business

HCM City aims to improve production of major industries

Chairman of the municipal People’s Committee Nguyen Thanh Phong has asked agencies to improve production of major industries and diversify tourism products, as well as speed up the capital disbursement rate of public investment projects in the city.
Banks’ liquidity abundant ahead of Tet Business

Banks’ liquidity abundant ahead of Tet

Though Tet (Lunar New Year) is approaching with rising capital demands, the liquidity of the banking system is abundant, helping interest rates in the inter-bank market drop sharply, industry insiders said.
Bank lending rates expected to fall in 2020 Business

Bank lending rates expected to fall in 2020

A report by securities firm SSI on the financial and monetary market says deposit interest rates are likely to be cut by 0.5- 1 percentage point this year, and lending interest rates would also be cut by at least 0.5 percentage points as required by the Government.