Prime Minister Pham Minh Chinh on June 3 asked ministries, agencies and localities to push the three engines of export, investment and consumption in order to spur the country's economic growth in the time ahead.
On May 11, the State Bank of Vietnam (SBV) and the People's Committee of Ho Chi Minh City jointly organized a conference to discuss monetary and credit solutions to support and promote the economy of the Southeast region.
Vietnam’s banking system is showing signs of returning to a period of money surplus as no bank needs the State Bank of Vietnam's (SBV) capital in the open market operation (OMO) channel and overnight interbank interest rates have dropped sharply.
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.
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.
The real estate market has become a hot topic in the economy recently. There is an existing paradox where large-scale companies report huge profits, but their debts are increasingly enlarging, becoming fragile in the event of financial turmoil.
Each bank is required to review its banking system while giving tough penalties on those who require customers to buy insurance that is not really necessary when granting credit to customers, and approving loans to customers in accordance with regulations, according to the State Bank of Vietnam’s request.
Many financial experts are now blaming rising interest rates by central banks across the world and the current geopolitical changes across the globe for the drastic plunge in liquidity in the stock market.
The State Bank of Vietnam (SBV) yesterday just issued a decision on the adjustment of savings' interest rates from October 25, 2022. This is the second time the State Bank has raised the operating interest rate to stabilize the currency exchange rate in the face of fluctuations in the international market.
The maximum interest rate applied for demand deposits with terms of less than one month is 0.5 percent per annum, and the maximum interest rate for deposits with a term from one month to less than six months is 5 percent per annum.