Ho Chi Minh City’s bad debts had decreased to 3.8 percent of total credit outstanding balance by the end of August, said Director of the State Bank of Vietnam’s municipal branch To Duy Lam.
HCM City (VNA)💟 – Ho Chi Minh City’s bad debts had decreased to 3.8 percent of total credit outstanding balance by the end of August, said Director of the State Bank of Vietnam’s municipal branch To Duy Lam during a working session with the city’s National Assembly deputies on October 17.
Local banks settled more than 35 trillion VND (1.56 billion USD) in bad debts, he revealed, adding that in the past nine months, total credit outstanding balance in the city rose over 13 percent, while total lending increased nearly 11 percent year on year.
At the session, local banks highly valued the role of the Vietnam Asset Management Company (VAMC) in tacking bad debts as well as proposed policies and mechanisms in dealing with the debts.
Do Minh Toan, General Director of the Asia Commercial Bank (ACB) attributed difficulties in the work to shortcomings in the procedure of handling bad debts, especially a lack of effective measures to deal with irresponsible asset owners.
At the same time, local authorities and economic departments at districts have yet to well perform their role in coordinating and supporting banks in handling bad debts, he said.
Meanwhile, Secretary of the municipal Party Committee Dinh La Thang asked local commercial banks to actively work with the VAMC in seeking efficient solutions to the work.
Relevant agencies should clarify the exact amount of bad debts and design strategies to speed up the restructuring and management of bad debts, thus winning trust of customers and locals.
Thang also requested the State Bank of Vietnam’s municipal branch as well as commercial banks to work together to soon announce credit packages for startups and small and medium-sized enterprises in line with seven breakthrough programmes of the city.-VNA
Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong expressed optimism about achieving its yearly goals during talks with members of the European Chamber of Commerce and Industry in Han
Asset management company VinaCapital announced on October 13 at its annual investor conference that it expects to set up next month a domestic fund for foreign investors and raise 5 million USD.
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.
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&.
Illustrative image (Source: VNA)
