Though enterprises and individuals need the Government’s large economic recovery packages to rebound from the pandemic, the Government should consider limiting the participation of commercial banks in the packages to help them avoid bad debt risks, experts suggest.
The Ministry of Planning and Investment (MPI) has consulted community businesses to develop the Government's resolution on supporting businesses during the COVID-19 pandemic.
Interest rate cuts by the State Bank of Vietnam (SBV) and cost savings among credit institutions will pave the way for sustainable lending rate reductions, thus easing difficulties faced by businesses.
Incomplete statistics show that businesses have enjoyed cuts of at least 100 trillion VND (4.25 billion USD) to support them amid the COVID-19 pandemic.
Vietnamese shares declined on September 28 on both local exchanges after the State Bank of Vietnam reduced the saving interest rate for US dollar saving accounts, which hurt bank shares.
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