NEW POLICY ON TIGHTENING USE OF SHORT-TERM CAPITAL FOR LONG-TERM LOANS TAKES EFFECT
As stipulated in Circular 08/2020/TT-NHNN, both Vietnamese banks and foreign bank branches in Việt Nam are required to reduce the maximum ratio of short-term capital for medium and long-term loans to 30 per cent as of October 1, 2023.
PROMISING OUTCOMES FOR 2023’S FDI
On September 22, three months after the signing of a comprehensive business agreement in Seoul city of South Korea on eco-friendly, high-tech material between SKC Group and Haiphong People’s Committee, the group’s representatives were present in the northern port city to receive an investment registration certificate for $500 million.
PUBLIC INVESTMENT DISBURSEMENT EXCEEDS 50% IN JANUARY-SEPTEMBER
Disbursement of public investment capital reached VND363.3 trillion (US$15.3 billion) in the first three quarters this year, accounting for 51.38 percent of the whole-year volume, Deputy Minister of Planning and Investment Tran Quoc Phuong told reporters on Thursday.
TRADE SURPLUS NEARS US$20 BLN IN JAN-AUG
Vietnam’s total import and export value reached US$436.44 billion in the reporting period, a decrease of US$64.21 billion in value from the same period in 2022. The export value of fruits and vegetables rose 61.8% year on year to US$3.55 billion, including US$464.47 million in August, up 14.8% from the previous month.
GDP GROWTH ROSE IN FIRST NINE MONTHS OF 2023
GDP in the third quarter is estimated to have increased by 5.33 per cent on-year, the lowest growth seen since before 2011, apart from the pandemic years of 2020 and 2021. However, this is seen as positive when compared to the growth of 2023's previous quarters, 3.28 per cent in the first, and 4.05 per cent in the second.
VIETNAM'S RETAIL SECTOR FACES MOUNTING CHALLENGES
On September 22, Vietnam Report unveiled its annual list of the Top 10 Credible Retail Companies for 2023. The rankings, reflected an industry grappling with significant challenges of considerable interest to investors and stakeholders.
VN NEEDS TO IMPROVE REGULATORY FRAMEWORK TO INCREASE GREEN FINANCING
Việt Nam needs to develop a proper regulatory framework to pave the way for credit institutions to increase green financing and contribute to accelerating the transition to a low-carbon economy, attendees heard at the Việt Nam Climate Forum organised by the International Finance Corporation (IFC) in collaboration with the State Bank of Việt Nam (SBV) yesterday in Hà Nội.
VIETNAM - US TRADE RELATIONS
Along with sound political relations, economic-trade ties have been one of the most successful endeavours within Vietnam-US relations. The US is currently one of Vietnam’s largest trading partners.
