Deputy Prime Minister Truong Hoa Binh has assigned the State Bank of Vietnam (SBV) to devise measures to control illegal financial transactions and tax evasion via illicit international payment gateways.
Vietnam has prepared the best conditions to spur its economic growth as the global economy is grappling with the severe impacts of the COVID-19 pandemic, experts have said.
Ho Chi Minh City’s credit growth amounted to some 2.4 quadrillion VND (104 billion USD) as of the end of 2020, making up nearly 27 percent of the country’s total.
The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.
Credit loans must be always available for production and business enterprises, especially those operating in such areas as agriculture, export and high-tech, Prime Minister Nguyen Xuan Phuc said on December 26.
The banking industry's credit is projected to have expanded 11 percent for the year by the end of December, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu revealed at a press conference on December 24.
Vietnam is working hard to build a stable and transparent investment and business environment, thus becoming a destination for international human and capital resources, so it would be unreasonable for the country to devaluate its currency, experts have said.
The US Treasury Department’s labelling of Vietnam as a currency manipulator is biased, as it is only based on US standards and lacks suitable consideration as well as recommendations from international organisations, according to experts.
The State Bank of Vietnam (SBV) said on December 17 that its management of exchange rate in recent years, within the general framework of monetary policy, aims to achieve the consistent goal of controlling inflation and stabilising the macro-economy, not to create unfair competitive advantages in international trade.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30 percent.
The State Bank of Vietnam (SBV) has proposed expanding the Vietnam Asset Management Company's (VAMC) operations, saying the agency should purchase and sell bad debts and assets of all sectors in the economy.
Interest rates for home loans are expected to be kept at a low level next year to stimulate demand for real estate, which coupled with macro-economic recovery and an increase in supply is hoped to promote the housing market's development, according to a report from the securities company VNDirect.
The 8th patriotic emulation congress of the banking sector, for 2020-2025, took place in Hanoi on November 28 with the participation of National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan.
Outstanding loans in Vietnam exceeded 8.79 quadrillion VND (378.74 billion USD) as of November 17, an increase of 7.26 percent from the end of 2019, according to the State Bank of Vietnam (SBV).
Connectivity between banks, businesses, and farmers in value chains is essential for Vietnamese goods to enter the EU market, a workshop in Hanoi on November 20 heard.
Vietnam is one of a few countries worldwide to successfully control the COVID-19 pandemic, creating opportunities to invest in the country and attracting overseas remittances for production expansion.
Business
