On the afternoon of March 14, many investors were left startled when the State Bank of Vietnam decided to reduce the operating interest rate and the short-term lending interest rate of credit institutions.
Prime Minister Pham Minh Chinh stressed the importance of creating an open legal corridor that is suitable to the country's conditions and circumstances while chairing the Government’s monthly law-making session in Hanoi on March 27.
It is estimated that the revenue of unlicensed games in the Vietnamese market is nearly VND5,000 billion (US$212,240,359) annually, accounting for 30 percent of the revenue of the country’s game market.
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.
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.
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 Ho Chi Minh City Real Estate Association (HoREA) recently submitted a written proposal to the Ministry of Finance for submitting to the Government for further consideration and amendment of Decree 65/2022/ND-CP.
In order for Vietnam to achieve the economic growth target in 2023, it will be necessary to have a much better synchronized coordination between fiscal and monetary policies so as to increase resilience in the economy and remove bottlenecks.