Credit packages with advantageous interest rates have been introduced to help businesses expand operations and enhance innovation and competitiveness, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said.
Experts predict improvement in Vietnam's economy in 2024, but economic growth still faces increasing risk as global demand declines, adversely impacting the industrial manufacturing and processing sectors. Meanwhile, inflationary pressures remain, and investment and consumption are down. These developments will continue to create numerous challenges for monetary policy management in 2024.
Vietnam’s credit growth reached around 13.5% in 2023 although unprecedented developments of the global economy posed formidable challenges to the country’s monetary policy, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said on January 3.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has stated that the central bank will keep a close watch on market developments and make adjustments with high flexibility.
The State Bank of Vietnam (SBV) has given timely instructions to banks in order to prevent risks and acts that take advantage of virtual currencies in transactions, Deputy Governor Dao Minh Tu has said.
Commercial banks were told to launch a 40 trillion VND support package with a 2 percent yearly rate cut for businesses in a meeting with the State Bank of Vietnam (SBV) last week.
Credit growth has reached 12.97 percent so far and is likely to hit 14 percent this year, Standing Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said in a press conference on the SBV's governance of monetary policies and banking operation on December 28.
Vietnam will pilot Mobile Money service across the country for two years before officially launching it, according to Deputy Governor of the State Bank Dao Minh Tu.
Credit institutions need to balance their capital to effectively invest in projects, which are now able to recover following the control of the COVID-19 pandemic, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu asked lenders to not raise interest rates to support enterprises affected by the outbreak of the novel coronavirus (2019-nCoV), during a conference on February 6.
The recent credit package worth 100 trillion VND for hi-tech agriculture is expected to give a breath of fresh air to Vietnam’s agriculture amid the recurrent problem of “bumper crop, sliding prices”.
The Vietnam Joint Stock Commercial Bank for Industry and Trade in Laos (Vietinbank Laos) has upgraded its transaction office in Champasak province to a branch.
