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.
Information relating to the loosening of credit room, and commitments from the Ho Chi Minh City (HCMC) People's Committee and other agencies on removing hurdles to transactions have led to experts' positive views on the future of the property market.
The State Bank of Vietnam has just increased the credit room by 1.5-2 percent for credit growth in 2022. This is considered a timely ‘rain’ to relieve the ‘thirst’ for capital among domestic businesses.
Over the last twenty-odd years, several real estate brands in Vietnam have lost their high credibility due to various unpredictable circumstances that have affected their reputation. Currently, too, many big brands are doing everything possible to fight the factors affecting their businesses and save and protect their brands in the current crisis situation.
Many enterprises in Vietnam are currently facing several difficult challenges in running their operations and these ongoing obstacles are very likely to have a serious effect on their resilience in the long run.
Several banking, real estate, securities, and steel stocks fell to the floor despite the positive news that the State Bank of Vietnam has officially expanded the credit room by 1.5-5 percent, increasing credit growth in the year to 15.5-16 percent compared to the target of 14 percent at the beginning of the year.
Economic instability across the entire globe is bound to affect Vietnam as well. Although economic data for Vietnam shows that difficulties have been overcome, but the fact remains that scores of businesses are still struggling.
At a meeting with Ho Chi Minh City on the task of socio-economic development, disbursement of public investment capital, and the progress of key projects, Prime Minister Pham Minh Chinh said that it is necessary to design a tool to control investment activities in corporate bonds.
The Ministry of Industry and Trade held the conference "Exporting to FTA markets - Solving the problem of sustainable development" on November 18 in Ho Chi Minh City. Many export enterprises in many fields and industries in Southern provinces and cities have raised the difficulties that need to be removed when entering export markets.
While many businesses have a high demand for capital at the end of the year for business loans, workers’ salary payments, and bonuses, banks are not allowed to extend more credit to their customers; therefore, businesses have to struggle to find capital.
Determining that improving the investment and business environment and enhancing competitiveness is one of the key tasks in the operation and implementation of local political tasks, Ho Chi Minh City’s District 12 will continue to focus on improving the business environment openly and transparently in line with the market and the trend of international integration in the coming time.