The headquarters of the State Bank of Vietnam in Hanoi (Photo: State Bank of Vietnam)
Hanoi (VNA) – ไThe State Bank of Vietnam (SBV) said the officialinterest rates will be adjusted down as from September 16.
Under Decision 1870/QD-NHNN dated September 12, 2019, the re-financingrate will be reduced to 6 percent per annum from the current 6.25 percent. The discount rate will be adjusted to 4 percent per annum from thecurrent 4.25 percent. The overnight electronic inter-bank interest rate and rate of loans tooffset capital shortage in clearance between the SBV and credit institutions willgo down to 7 percent per annum from the current 7.25 percent.
TheSBV said in the previous period, it has carried out synchronous measures to stabilizethe interest rates, contributing to keeping the macro economy stable andsupport a suitable growth rate.
Itnoted that entering the current period, the world economy has seen less favourabledevelopments, and the central banks of many countries, including the Fed of theUS and the European Central Bank, have cut their interest rates.
ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ Thebank affirmed that the domestic macro economy remains stable, inflation isunder control, and the monetary and foreign exchange markets stay stable./.
Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments.
Banks have increased their interest rates on certificates of deposit (CDs), bringing them in excess of 10 percent per year with the aim of mobilising long-term capital.
The State Bank of Vietnam (SBV) said it will closely monitor interest rates offered by credit institutions and take measures to strictly handle violations of the law, including cutting credit growth targets.
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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
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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.
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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 headquarters of the State Bank of Vietnam in Hanoi (Photo: State Bank of Vietnam) 
