State Bank orders actions to fight black credit Business

State Bank orders actions to fight black credit

The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.
Japan, China, RoK enhance banking cooperation with ASEAN World

Japan, China, RoK enhance banking cooperation with ASEAN

Government-backed development banks of Japan, China and the Republic of Korea (RoK) have signed an agreement with public and private financial institutions in Southeast Asia to meet growing demand for infrastructure projects in the fast-growing region.
SeABank completes settlement of VAMC special bonds Business

SeABank completes settlement of VAMC special bonds

The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Vietnam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.
PM Phuc chairs teleconference for 2020 tasks Politics

PM Phuc chairs teleconference for 2020 tasks

Prime Minister Nguyen Xuan Phuc chairs a two-day government-to-locality teleconference, which opened in Hanoi on December 30, to review Vietnam’s socio-economic development in 2019 and map out plans for 2020.
ADB affirms economic growth potential of Vietnam Business

ADB affirms economic growth potential of Vietnam

The Asian Development Bank has revised up its forecast of Vietnam’s GDP growth for 2019 and 20202 from 6.8 percent to 6.9 percent and 6.7 percent to 6.8 percent, respectively, in contrary with projections for Asia.
Finance Ministry responds to Moody’s latest rating action Business

Finance Ministry responds to Moody’s latest rating action

The Vietnamese Ministry of Finance (MoF) on December 18 said Moody's Investors Service’s decision to confirm Vietnam’s rating at Ba3 but change the outlook to negative was not appropriate, given it is grounded on an isolated incident and does not adequately recognise the Vietnamese Government’s instituted policies and procedures to ensure smooth and timely debt repayment on government guaranteed borrowings.
Vietnam achieves impressive economic growth: WB Business

Vietnam achieves impressive economic growth: WB

Vietnam’s economy has performed well in 2019, with GDP expanding by an estimated 6.8 percent, public debt reduced by nearly 8 percentage point of GDP since 2016, and a trade balance surplus for fourth year in a row, according to the World Bank (WB)’s report released on December 17.
Revised GDP in line with international practices Business

Revised GDP in line with international practices

The revision of the size of Vietnam’s gross domestic product (GDP) for 2011-2017 is in line with international practices and serves as a foundation for the country's development path in the next 10 years, an official has said.