Hanoi (VNA) –The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 saidit will cut lending rates in Vietnam dong for the fifth time.
Accordingly,the bank will reduce interest rates by 10 percent for short-term loans with an annual interestrate of at least 5 percent, and mid-and long-term loans with an interest rateof no less than 7 percent.
The interest rate cut will worth about 5.5 trillion VND (239 million USD).
The programme,to last until December 31, will be rolled out at all 2,300 transaction sites of Agribank in the country.
Besides, Agribank has restructured loans, provided free-of-charge domestic money transfer services, and donated more than 130 billion VND to the COVID-19 combat.
The same day, theAsia Commercial Joint Stock Bank (ACB) announced that the lending rates of itsshort-term loans will be cut by a maximum 0.8 percentage points and that of mid and long-term loans, by 1 percentage point, to be applied to existing loans.
The bank will adjust the lending rates for both individual and organisation clients between July 15 and October 15.
On July 14, Saigon Thuong Tin Commercial Joint Stock Bank(Sacombank) was the first to cut its lending rates following a meeting between the State Bank and credit organisations. It adjusted the annual rates down by 1 percentage point for outstanding loans of businesses and individuals affected by COVID-19, such as those operating intourism, transportation, catering and lodging services, education and healthcare.
GeneralSecretary of Vietnam Bankers Association Nguyen Quoc Hung told the VietnamNews Agency (VNA) that more banks are expected to follow suit from now tillthe end of this year to assist pandemic-hit clients.
At the July 12 meeting between the State Bank and credit organisations, credit institutions reached a consensus on reducing lending rates to support businesses and citizens, with a focus on businesses suffering most from impacts of the COVID-19 pandemic./.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) again tops the list of ten most prestigious commercial banks in Vietnam this year, according to the latest ranking announced by Vietnam Report.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative photo (Source: VNA) 
