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Banks’ settlement of debts hindered by asset regulations

Banks’ settlement of debts hindered by asset regulations

Aug. 13 | Nguyen Quoc Hung, chair of the Vietnam Asset Management Company (VAMC), an arm of the State Bank in charge of buying debts from banks to help liberalize banks from bad debts, said VAMC bought VND11.414 trillion worth of principal in the first half of...

Banking Supervision Agency to be upgraded

Banking Supervision Agency to be upgraded

Jun. 19 | The Banking Supervision Agency under the central bank has been upgraded to a general department, with more duties and rights as of August 1, according to a newly issued decision. Currently, the agency is operating as a central bank’s department....

China has no influence on Vietnam’s financial markets: Central bank

China has no influence on Vietnam’s financial markets: Central bank

Jun. 17 | China has no significant influence on the Vietnamese finance market, and the dong/dollar exchange rate will remain stable, an official of the State Bank of Vietnam (SBV) has said. “Chinese banks in Vietnam are very small banks compared with Vietnamese...

Business, bank restructuring efforts receive a boost

Business, bank restructuring efforts receive a boost

Jun. 9 | The Japan International Cooperation Agency (JICA) held a seminar in Hanoi, launching two projects to accelerate the restructuring of State-owned enterprises (SOEs) and credit organisations. The Ministry of Finance (MoF) undertakes a project to improve...

Hanoi hosts banking expo

Hanoi hosts banking expo

May. 22 | The Vietnam Banking Conference and Expo 2014 opened in Hanoi on May 21 to identify measures to boost infrastructure restructuring and enhance risk management capability in the banking industry. The two-day event, co-organized by the State Bank of Vietnam...

Japan finds an illegal Vietnamese money transferring ring

Japan finds an illegal Vietnamese money transferring ring

May. 7 | The Japanese police have announced that they have caught a criminal ring which has been remitting money illegally to Vietnam. However, this is just one of a number of rings existing in the country, in which there are many Vietnamese workers. Japanese...

Government directs centralized capital for priority areas

Government directs centralized capital for priority areas

May. 5 | A resolution on a regular cabinet meeting has been issued emphasizing the need to centralize investment capital on priority areas to help enterprises alleviate difficulties in production and business operations. Accordingly, the Government requested the...

Japanese SMEs seek loans from Vietnamese banks

Japanese SMEs seek loans from Vietnamese banks

May. 5 | Analysts have noted a growing trend of Japanese small and medium enterprises (SMEs) in Vietnam borrowing money from Vietnamese banks, rather than receiving capital from holding companies or borrowing from home banks. According to Sachiko Hayakawa from...

World Bank rates Southeast Asian economic growth

World Bank rates Southeast Asian economic growth

Apr. 8 | Cambodia , with economic growth forecast at 7.2 percent in 2014, will be one of the countries recording the highest growth in Southeast Asia , according to the World Bank (WB). Cambodia ’s economy is expected to grow by 7.2 percent this year, 0.2 percent...

SBV cuts interest rates

SBV cuts interest rates

Mar. 19 | The State Bank of Vietnam (SBV) on March 17 announced a reduction in maximum interest rates for bank deposits in VND and USD. Accordingly, the maximum interest rate for non-term and under-one-month term bank deposits will drop by 0.2% to 1% per year,...