The headquarter of the State Bank of Vietnam in Hanoi (Source: Vietstock)
Hanoi (VNA) – The State Bank of Vietnam (SBV) will cl𓆉osely watch credit growth and direct the credit flow into production in the remaining months ofꦦ this year.
SBV’s Governor Le Minh Hung said that the central bank would continue its flexible monetary policies in co-ordination with the government’s fiscal policies to put inflation under control, ensure macro-economic stability and support economic growth.
Hung said monetary policies would focus on removing difficulties for businesses, and added that the central bank was determined to stabilise interest rates despite the pressure of rising rates driven by expectations over inflation.
“The central bank will direct the credit flow into prioritised sectors such as agriculture, part-supplier industry and high-technology while targeting small- and medium–sized enterprises and start-ups,” Hung said.
In addition, credits into sectors which were risky would be under tight management.
The SBV would continue to announce a daily reference rate with the aim of stabilising the foreign exchange rate and the foreign currency market in line with the government’s goal of anti-dollarisation.
From the beginning of this year, the central bank bought 9 billion USD worth of foreign currencies, adding to the government’s foreign currency reserves.
Regarding resolving bad debts, Hung said that SBV was speeding up the compilation of the project on restructuring of credit institutions from 2016 to 2020 and would soon report the handling of bad debts by the Vietnam Asset Management Company to the government.
Based on figures of credit institutions reporting to the central bank, the ratio of bad debts by the end of May was at 2.78 percent, lower than the government’s target of 3 percent.-VNA
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The headquarter of the State Bank of Vietnam in Hanoi (Source: Vietstock)
