The State Bank of Vietnam (SBV) and relevant financial organisations need to take drastic measures to push the banking sector’s restructuring process in its final year.
Hanoi (VNA)ಌ - The State Bank of Vietnam (SBV) and relevant financial organisations need to take drastic measures to push the banking sector’s restructuring process in its final year.
During the process, self-restructuring, and merger and acquisition (M&A) are encouraged among Vietnamese commercial banks, said SBV Deputy Governor Nguyen Thi Hong.
She said SBV will keep track of the progress to tackle arising difficulties and foster comprehensive restructuring while enhancing the credit institutions’ governance capacity through new mechanisms on information transparency, stock market listings, sound internal business policies and the development of risk management systems.
According to economic expert Vu Dinh Anh, the banking system’s competitiveness capacity needs to be ensured not only in the domestic market, but also in foreign markets amid regional and global integration, with various bilateral and multilateral commitments to be implemented after 2015.
He suggested reviewing all restructuring projects since 2011 to assure adjustments are timely while controlling the compliance of legal regulations on rates of personal and organisational ownership in commercial banks.
Meanwhile, former National Financial Supervisory Commission Chairman Le Xuan Nghia said successful bank restructuring relies on integrating deep legal reforms with major renovation in state-owned enterprises, public investment, agriculture and administrative procedures.
The SBV affirmed it will streamline legal frameworks for monetary and banking activities in accordance with Vietnamese practices and international standards.
Achievements from 2011 to 2015 will create a base for developing a modern, sustainable credit institute system that is diverse in ownership and scale to meet the economy’s increasing demands on financial and banking services.-VNA
After four years of restructuring the banking system, total charter capital owned by the State Bank of Vietnam (SBV) at commercial banks increased 1.7 times.
The Investigation Police Agency said it launched criminal proceedings against 16 former officials of the Vietnam Construction Bank (VNCB) for economic management wrongdoings.
The State Bank of Vietnam (SBV) will keep a close watch on the developments of domestic and global macro economies and monetary markets to assure synchronous exchange rate management.
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.
Transaction at HDBank. (Source: VNA)
