Credit growth forecast to hit 11 percent by year-end Business

Credit growth forecast to hit 11 percent by year-end

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.
Central bank responds to US labelling Vietnam as currency manipulator Business

Central bank responds to US labelling Vietnam as currency manipulator

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.
Central bank extends credit growth limits Business

Central bank extends credit growth limits

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.
Central bank proposes expanding VAMC's operation Business

Central bank proposes expanding VAMC's operation

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 rate for home loans forecast to stay low in 2021 Business

Interest rate for home loans forecast to stay low in 2021

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.
Remittances expected to rebound by year’s end Business

Remittances expected to rebound by year’s end

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.