The last few years have seen a decline in revenue across most businesses, especially those in real estate, where the pressure of corporate bonds maturing within this year has many enterprises fearing a state of insolvency.
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.
Priority should continue to be given to maintaining macroeconomic stability, controlling inflation, spurring growth and ensuring major balances of the economy, PM Pham Minh Chinh said at the Government’s February meeting on Mar 3 in Hanoi.
Chairman of the Ho Chi Minh City People's Committee Phan Van Mai asked departments and agencies to solve problems that businesses have mentioned at recent meetings to help businesses trust city’s determination for economy growth.
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 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.