Large livestock firms should control pork prices Business

Large livestock firms should control pork prices

Large livestock enterprises should keep pork prices in check despite limited supplies on the domestic market due to African swine fever, Minister of Agriculture and Rural Development Nguyen Xuen Cuong has said.

State Bank forms advisory panel of top commercial banks

The State Bank of Viet Nam plans to establish a standing group of 12 leading commercial banks which represent 85 percent of market share to address issues that arise in the banking system.

The group, to be known informally as G12+1, will meet every three months or as required to improve interaction between the banking system and monetary policymakers.

However, the establishment of the G12+1 is seen as the latest step by the central bank to force commercial banks to comply with interest rate regulations, with State Bank of Viet Nam Governor Nguyen Van Binh recently reiterating his intention to punish banks violating the deposit interest rate cap of 14 percent per year.