Amid the COVID-19 pandemic, the economy of Vietnam experienced numerous difficulties and challenges during the first half of 2021, but the stock market still posted strong growth, at a pace that is the second fastest in the world.
The Politburo has decided to give a warning to Politburo member, Secretary of the Party Central Committee and head of the Party Central Committee’s Economic Commission Nguyen Van Binh as a disciplinary measure for his mistakes during the time he served as Governor of the State Bank of Vietnam.
The State Bank of Vietnam (SBV)’s Governor or the directors of SBV’s municipal and provincial branches will be able to lace credit institutions under the SBV’s special control, starting from next month.
Some experts have said when a bank is unable to have a minimum capital adequacy ratio (CAR) of 8 percent for a long time, it could be put under special control by the central bank.
Fewer new pollution hotspots have been found in Vietnam in the past few years, but vigilance is needed to control potential risks, the Ministry of Natural Resources and Environment’s Vietnam Environment Administration has said.
Ping Kitnikone, Canadian Ambassador to Vietnam has praised efforts and progresses made by the Hanoi authority in protecting and improving the environment.
The Ministry of Natural Resources and Environment has asked agencies to comment on its special project to control companies thought to be likely of polluting the environment - even industries not yet in operation, such as power plants.
Deputies of the 14th National Assembly on October 26 debated the draft bill on amendments and supplements to some articles of the Law on Credit Institutions.
A draft resolution on the settlement of bad debts at credit institutions and a bill on amendments and supplements to the Law on Credit Institutions were high on the agenda of the National Assembly (NA)’s sitting on June 7.
The Hanoi Stock Exchange has issued its membership regulations for derivative market trading, which is scheduled to start operation in the second quarter of this year.
The State Bank of Vietnam (SBV) is reducing special control on three banks that it acquired with zero dong thanks to the banks' improving liquidity and business performance.
Forty-three of the country's forty-five insurance companies ensured
financial safety in 2014, according to a report by the Ministry of
Finance (MoF) reviewing insurance market restructuring over the past
year.
The stock market in Vietnam witnessed a strong recovery this year with
the benchmark indices, market capitalisation and the involvement of
foreign capital soaring over last year, according to the State
Securities Commission.
The State Bank of Vietnam is likely to double its charter capital to
10 trillion VND (476.2 million VND) from August 15 this year in a bid
to better stabilise the country’s monetary market, according to a draft
circular.
Under-performing banks may have to file for bankruptcy if they cannot
meet new conditions set out by the central bank under a recently issued
circular that is effective on April 27.
Circular
No07/2013/TT-NHNN requires that certain banks restructure through merger
or acquisition with other credit institutions.
The State Bank of Vietnam (SBV) has recently issued Circular
No07/2013/TT-NHNN on special control over credit institutions in a move
to better manage the banking system.
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