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.
The lending interest rates have returned to the interest rate before the Covid-19 epidemic, but the credit in the first 7 months of the year only grew by 4.03 percent, reaching one-third of the plan of the year.
The Government is focused on removing difficulties and obstacles for the capital market in 2023. It wants to remove obstacles in cash flow, support businesses, and improve competitiveness to boost the economy.
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 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.
Loc Troi Group today informed that the group so far has received many orders to export more than 400,000 tons of rice to European supermarkets, so the Group will accelerate the expansion of the production and planting areas according to the requirements of each market.
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.
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.
Considered a safe shelter from current chaotic events in the world, Vietnam is enjoying a strong flow of foreign capital. What should be immediately done now is to devise feasible solutions to support domestic businesses resume their operations effectively, and thus improving their ability to attract these foreign capital amounts.