BANKING RESTRUCTURING NEEDS A PUSH
[05-01-2016] 2015 is the last year of implementing the restructuring project of credit institutions of Vietnam in the period of 2011-2015 in accordance with Decision 254/QD-TTg of the Prime Minister (Project 254). The results of the project will certainly significantly affect the economic development of Vietnam in the long term.
NEW RULES LAID OUT FOR FOREIGN FINANCIERS
[05-01-2016] Foreign credit institutions intending to contribute to establishing non-banking financial companies will be required to have a minimum US $10 billion of assets at the end of the previous year as of February 8.
SBV DRAFTING POLICY TO HELP LOCAL INDUSTRIES ACCESS LOANS
[05-01-2016] State Bank of Viet Nam (SBV) is drafting a circular guiding credit policy to make it easier for local supporting industries to access loans and make them more competitive during integration. The Decree No 111/2015/ND-CP released in November, with regard to the development of support industries states that they can access assistance, funds, and other sources for research, development, and training.
SBV SETS DAILY RATE FOR VND-USD TRANSACTIONS
[04-01-2016] The State Bank of Viet Nam (SBV) on January 3 announced that it would apply a daily reference rate for VND/USD transactions starting from Monday to allow more flexibility. The policy will allow the foreign exchange rate to be (more) flexible in accordance with the demand and supply of foreign currency within Viet Nam and global market developments while still maintaining the SBV’s management role.
STOCK MARKET TARGETS STABILITY OVER GROWTH IN 2016
[02-01-2016] The State Securities Commission has maintained a cautious view on the development of Viet Nam's stock market in 2016 and preferred to focus on stable performance over growth. "Viet Nam's stock market is forecast to face a range of hurdles in 2016. We should be more prudent in risk management and market operations," State Securities Commission Chairman Vu Bang said at the year-end meeting in Ha Noi.
