During a seminar on "Opening Capital Flow into Production and Business" hosted by Tuoi Tre Newspaper on March 30, the Standing Deputy Governor of the State Bank of Vietnam (SBV), Dao Minh Tu, emphasized SBV's message to lower interest rates.
On March 22, the price of gold in Vietnam experienced a decline of VND300,000 per tael (1.2 ounces), retreating to near VND67 million per tael due to a sharp drop in the global gold price.
One week after the State Bank of Vietnam (SBV) reduced the benchmark interest rates, the deposit interest rates in the market continued the downward trend.
The price of gold in Vietnam climbed by VND350,000 per tael (1.2 ounces) on March 18 as the global bullion price jumped sharply, approaching US$2,000 an ounce.
The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5 percent to 1 percent, which will come into force on March 15.
The State Bank of Vietnam – HCMC Branch yesterday sent a formal dispatch to all districts and Thu Duc City about strengthening supervision on foreign currency trading of businesses, especially gold trading ones, to detect illegal activities.
Commercial banks have agreed to lower deposit interest rates by about 0.5 percent starting from March 6, while State-owned banks will only reduce their rates by 0.2 percent because they are already at the lowest level in the market.
Many experts said that interest rates in Vietnam are currently too high, so it is necessary to reduce them to support people and enterprises to recover and develop production and business activities.
Vietnam's lending interest rates are higher than many countries in the world, while last year, Vietnam was one of the countries with the lowest inflation level. This paradox needs to be explained to find solutions to ease the burden on businesses.
16 commercial banks in Ho Chi Minh City signed a loan commitment of up to VND11 trillion (US$462 million) for 64 businesses with interest rates of 7 percent and 10 percent a year for short-term loans and medium and long-term loans respectively.
Through the Bank-Business Connection program, commercial banks disbursed VND568.34 trillion, equal to 131 percent of the preferential credit package registered since the beginning of the year, an increase of 16.6 percent compared to 2021.
The State Bank of Vietnam (SBV) announced on February 23 that it had issued Official Letter No. 953/NHNN-TD, which outlines the continuation of the bank-business connection program.
The State Bank of Vietnam’s (SBV) Ho Chi Minh City (HCMC) branch will continue to prioritize credit for production and business, especially in priority sectors, to boost economic recovery.
The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.
Party General Secretary Nguyen Phu Trong on March 30 chaired a meeting of the Party Central Committee’s Politburo and Secretariat on a project summarising the 10-year implementation of Resolution No. 15-NQ/TW.
A global problem, climate change requires a global approach based on multilateral cooperation and institutions, Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN), has said.
In addition to identifying the prioritized agricultural production sectors in the order of aquaculture, fruit trees, and rice, many resources have been invested in the Mekong Delta to cope with the issues caused by climate change.
A working session on the results of the implementation of Resolution 27/2021/NQ-HDND on policies of preschool educational development in industrial parks and a draft resolution on service fees in schools was held yesterday.
Recently, the Ministry of Finance has put forward a plan to levy an excise tax on sugary and non-alcoholic beverages with the aim of bringing down sugar consumption and improving public health. However, this draft is still controversial.
