Vietnamplus

Vietnam’s credit registry coverage increased to 59.6 percent in 2020 from 41.8 percent in 2015, said Do Hoang Phong, director of the Vietnam Credit Information Centre (CIC).

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.

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.

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.

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.