Hiking deposit interest rates helps ensure capital mobilisation for economy
Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha has said.
Hanoi (VNA) - Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha has said.
At the Government’s regular press conference in Hanoi on October 29, the official affirmed that the central bank always directs credit institutions to concentrate capital for prioritised entities and business organisations that have great contributions to the national economic growth.
The State Bank is concentrating on directing and ensuring credit growth in accordance with the macro-economy and the ability to access capital of the economy as well as businesses, he noted.
Early this year, the central bank set a creadit growth target of 14%, higher than the levels of 2020 and 2021. As of October 25, the growth has expanded by 11.5% compared to the same period last year.
The recent adjustment of interest rates by the SBV aims to ensure that credit institutions have the ability to mobilise additional capital to ensure liquidity safety, and provide capital for the economy, he noted.
According to the official, many countries around the world also continue to raise interest rates for two reasons - fighting domestic inflation and supporting the devaluation of local currencies against the USD.
🧸 The most important issue is controlling inflation, contributing to stabilising the macro economy and ensuring liquidity of credit institutions as well as of the whole economy, he stressed./.
Viet Capital Bank has unveiled a certificate of deposit for individual and institutional customers with an interest rate of up to 8.4% depending on the tenor.
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 image (Photo: VNA) 
