FINANCE MINISTRY UPDATES REGISTRATION FEES FOR AUTOS, MOTORBIKES
The Ministry of Finance has recently updated the list of registration fees for automobiles and mortobikes, which has increased the price of many luxury models.
INTEREST RATE FOR SOCIAL HOUSING LOANS
The Việt Nam Bank for Social Policies (VBSP) interest rate for social housing loans in 2017 will be 4.8 per cent per annum, or 0.4 per cent a month, according to a decision just signed by Prime Minister Nguyễn Xuân Phúc.
BANKS SEEK INCREASED CHARTER CAPITAL
It is the bank shareholders meeting season, and topping the agenda, besides the dividend payout ratio, is increasing their regulatory capital. On April 15 Techcombank announced it would hike its charter capital by VND5 trillion (US$220 million) to nearly VND14 trillion ($616 million) this year by selling more shares.
FINANCE MINISTRY PROPOSES TO MANAGE ENTERPRISE DEVELOPMENT FUND
The finance ministry has proposed to take over the management of the Enterprise Arrangement and Development Support Fund from the State Capital Investment Corporation (SCIC) to improve its efficiency.
Q1 CREDIT GROWS SHARPLY
Unlike in previous years, credit had risen to a record high of 3.14% in the year to March 23 compared to end-2016, up from 1.79% in the same period last year, according to the central bank.
CREDIT GROWS STRONGLY IN JAN
HCMC - Banks have said credit in the banking system expanded 2.18% in January, much higher than in the same month of previous years. In January last year, credit declined 0.2% compared to December 2015. Credit at the end of the first quarter last year grew 1.54% against late 2015. The credit growth target for this year is about 18%, the same as in 2016.
NEW REGULATIONS ON LENDING ACTIVITIES OF FOREIGN CREDIT ORGANIZATIONS
The State Bank of Viet Nam has issued Circular No.39/2016/TT-NHNN stipulating lending activities of foreign credit organizations and bank branches for customers. Accordingly, lending activities of credit organizations for customers will be launched based on agreements between the credit organizations and customers suitable with the Circular mentioned above and related legal documents, including laws on environmental protection.
TARIFF CUT LEADS TO LOWER PRICES OF IMPORTED CBU AUTOS
Several auto firms have adjusted down prices of completely-built-up (CBU) autos imported from regional markets following an import tax reduction this year in line with a roadmap of the ASEAN Trade in Goods Agreement (ATIGA).
