APEC 2017: Delegates laud Vietnam’s financial cooperation initiatives World

APEC 2017: Delegates laud Vietnam’s financial cooperation initiatives

International delegates attending the APEC Finance and Central Bank Deputies’ Meeting (FCBDM) spoke highly of four priorities for APEC cooperation initiated by Vietnam in 2017, including Long-term Investment in Infrastructure, Base Erosion and Profit Shifting, Disaster Risk Financing and Insurance and Financial Inclusion.
PM urges lower interest rates, stable taxes Business

PM urges lower interest rates, stable taxes

The Government has instructed corresponding administrative authorities to aim for a 0.5 percent decrease in lending interest rates from now until the end of 2017, while keeping taxes, fees and other charges unchanged, in order to propel the current disbursement rate in public spending and boost businesses’ productivity.
Organic produce becoming popular, lucrative Business

Organic produce becoming popular, lucrative

Demand for organic farm produce has increased significantly both in Vietnam and globally, and this offers good prospects for businesses investing in the field, a seminar heard in HCM City on May 12.
Bad debt ratio to be slashed to 3 percent Business

Bad debt ratio to be slashed to 3 percent

The Government has proposed to the Party Central Committee and the National Assembly a scheme that will reduce bad debts in the nation's banking system this year to three percent of total lending.
Business

Banks ordered to cut interest on old loans

State Bank of Vietnam Governor Nguyen Van Binh has asked commercial banks to refinance outstanding loans at lower interest rates in a bid to help businesses facing difficulties.

Addressing a meeting on July 7, Binh said lenders will be expected to offer borrowers better rates effective July 15. Therefore, bankers this week needs to identify new rates and immediately inform their networks to begin implementing the adjusted rates.

Business

Lending rates down as economy shows sign of improving

Commercial banks have begun to cut lending interest rates amid signs of improvement in the economy.

Agribank on Tuesday announced a cut of 1-1.5 percent in lending rates offered to borrowers across-the-board, establishing rates of between 15.5 percent and 20 percent per year.

This followed moves by the Bank for Investment and Development of Vietnam (BIDV), Vietinbank and Vietcombank, which have all reduced interest rates this month on loans in dong, with commercial lending rates now ranging from 14.5 percent to 17 percent per year.

Business

Shares surge after long holiday

Shares surged on both of the nation's stock exchanges on Jan. 30, the first day of trading following the long Tet (lunar new year) holiday, as Minister of Finance Vuong Dinh Hue dropped in on the floor of the Hanoi Stock Exchange.