The fourth cut in a row of regulatory interest rates by the State Bank of Vietnam (SBV) has provided an opportunity for commercial banks to reduce interest rates, thus attracting borrowers.
Hanoi (VNA) – The fourth cut in a row of regulatoryinterest rates by the State Bank of Vietnam (SBV) has provided an opportunityfor commercial banks to reduce interest rates, thus attractingborrowers.
General Director of Eximbank Tran Tan Loc said the bank has still recorded creditgrowth in terms of short-term lending.
The demand for loans in the market is on the rise, he said.
According to SBV governor Nguyen Thi Hong, credit growth in the first months of 2023 remainedlimited but many sectors still have great demand of capital.
The demand for loans of production and manufacturing businesses has decreaseddue to a lack of orders, while the non-production sectors have the need toborrow to address liquidity problems.
Experts have quoted theforecasts of commercial banks as saying that the credit demand was low in thesecond quarter of 2023, and it is unlikely to increase sharply in thesecond half of the year because businesses are still facing manydifficulties, although lending interest rates have dropped significantly after central bank's three policy interest rate cuts from March to May.
According to the latest data of the SBV,the average lending interest rate for new loans is at 9.07% a year at present,down 0.9% compared to the end of last year.
Commercial banks have all lowered lending rates tostimulate investment and consumption demand, but the new interest rates aremainly applied to new loans. Only a few commercial banks (mainly state-ownedcommercial banks) reduce interest rates on existing loans./.
Though deposit interest rates listed at commercial banks have decreased rapidly after the State Bank of Vietnam's (SBV) policy rate cut, savings of individual customers have kept rising.
The State Bank of Vietnam (SBV) has decided to reduce regulatory interest rates from June 19, the fourth cut in a row since mid-March in efforts to aid economic recovery.
The State Bank of Vietnam (SBV) is cutting down a series of key interest rates by 0.25%-0.5% from June 19, which is expected to make a double impact on the economy thanks to stronger credit activities and higher liquidity.
The Vietnamese booth featured fresh durian, durian ice cream, durian cakes, and other fruits such as dragon fruit and passion fruit, attracting strong interest from Beijing residents and ASEAN diplomats.
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.
Illustrative image (Photo: tapchitaichinh,vn) 
