Vietnamplus

Free trade agreements (FTAs) that Vietnam has signed with its partners have been an important factor attracting foreign investments to the country.

Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at 151 trillion VND (6.49 billion USD) by May 25, according to the State Bank of Vietnam.

Forbes magazine in Israel recently ran article entitled “Why should we think more about Vietnam?” that highlighted the country’s political, economic, and diplomatic achievements and its successful fight against COVID-19.

The fees for fast interbank fund transfers will be cut for the second time this year to promote cashless payments amid the rapid spread of the COVID-19 outbreak, the National Payment Corporation of Vietnam (NAPAS) announced on March 16.

Credit institutions have so far supported more than 44,000 clients affected by the COVID-19 outbreak, and assistance will continue in the time ahead, heard a meeting between the State Bank of Vietnam (SBV) and those organisations in Hanoi on March 2.

Vietnam was placed 67th out of the 141 countries in the Global Competitiveness Report 2019, up 10 places compared to its 2018 ranking and also up 3.5 points, which are the fastest increases in the world.

Vietnam has made considerable progress in terms of providing access to credit to become one of the top 25 global performers, according to the newly-released Doing Business Report 2020 produced by the World Bank.

Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Vietnam (SBV)’s agencies this week.

More than 773,000 out of over 1 million firms in the country, or 73.4 percent, are unable to access credit, it was reported at a conference on promoting access to credit held by the National Credit Information Centre (CIC) in Ho Chi Minh City on June 18.

The National Credit Information Centre of Vietnam (CIC) and the State Bank of Vietnam (SBV) has officially launched a portal connecting borrowers and credit institutions.

Private organisations will be encouraged to provide credit information in Vietnam to improve transparency in the credit information market, under a new draft decree.

Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Vietnam (SBV) takes effect.

Vietnam has seen a digital wave in the finance-banking industry, with many banks investing significantly into the segment, experts said at a recent conference.

The State Bank of Vietnam (SBV) held a conference in Hanoi on October 25 to review the financial sector modernisation and information management system project.

Deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks to Vietnam News Agency's English-language newspaper Viet Nam News about these issues on the sideline of the recent ADB 51st Annual Meeting in Manila, the Philippines

More efforts should be made to boost administrative reform in the banking system to further facilitate access to credit for micro, small and medium enterprises.

Vietnam needs experience shared by APEC member economies to promote financial inclusion, Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has said.

The 24th APEC Finance Ministers’ Meeting – the most important event of the APEC Finance Ministers Process - closed in Hoi An ancient city in the central province of Quang Nam on October 21 after issuing a joint ministerial statement.

The cross-border exchange of credit information is critical to promoting the quality and efficiency of investment and business activities of all APEC member economies, an official of Vietnam’s central bank said.

Cambodia is among the countries that have improved their business environment, according to the World Bank’s latest report.