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.
The State Bank of Vietnam – HCMC Branch yesterday sent a formal dispatch to all districts and Thu Duc City about strengthening supervision on foreign currency trading of businesses, especially gold trading ones, to detect illegal activities.
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.
Prime Minister Pham Minh Chinh chaired a national online conference in Hanoi on February 17 that sought ways to remove obstacles to the domestic real estate market and give it a push to grow safely, healthily and sustainably.
VNDirect Securities Corporation expects Vietnamese foreign exchange reserves to recover to 3.3 months of imports and reach US$102 billion by the end of this year from the current level of US$89 billion last year, said in its updated macro report.
The real estate market had to face many difficulties in 2022 and still faces many challenges in the coming year. The Government and ministries have taken a firm decision to support all real estate enterprises in 2023.
The move made by some commercial banks to reduce the lending interest rate, and the decision of the State Bank of Vietnam to increase credit by 1.5 percent to 2 percent has had a positive impact on manufacturing and export enterprises.