Hanoi (VNA) – Vietnamese lenders are hoping forat least 20 – 30 percent growth in their earning this year in the light of thecountry’s promising economic outlook.
The banks are looking forward to another good year with bigearnings on the back of a projected GDP growth rate of 6 – 7 percent, high COVID-19vaccine coverage, export surges, and the government’s new support programmes tobe underway.
The national programme for socio-economic recovery anddevelopment will set a scene for recovering and boosting investment, productionand consumption, which in return fuel the expansion of the banking industry in2022, said Dr. Can Van Luc, a member of the National Monetary and FinancialAdvisory Council and chief economist of the Bank for Investment and Developmentof Vietnam (BIDV).
VPBank is setting its sight on an average annual growth of30 – 35 percent in profit over the next 5 years. Vietnam International Bank (VIB)is also hoping for its profit to soar over 30 percent annually during the sameperiod.
Vietnam will be among the fastest-recovering economy in theregion with GDP growth projected at around 6 – 6.5 percent thanks to its strongeconomic foundation and accommodative macro-economic policies, said VIB CEO HanNgoc Vu.
There are still potential risks like inflation and slowrecovery of several industries but generally, this year’s economic prospectsare brighter than the previous year’s, VPBank Deputy CEO Luu Thi Thao said.
Banking is expected to be among the best performers in 2022,she noted, adding that the sector’s growth will come not only from creditrecovery but also non-interest earnings and cost cut./.
Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV) has urged lenders to not relax credit approval conditions but set tighter control on foreign currency lending and granting loans in high-risk sectors.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Illustrative photo. (Source: VNA)
