Vietnam legislature passes resolution on country’s five-year financial plan

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Báo Tuổi Trẻ English 3 week(s) ago 1 related news

An annual seven-percent increase to the minimum wage during the 2016-2020 period is among the fiscal policies set out by Vietnam’s lawmaking National Assembly (NA) in its resolution passed this week.

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Vietnam spends $1bn servicing ODA debts every year

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Báo Tuổi Trẻ English 1 month(s) ago

Vietnam earmarks some US$1 billion every year for repaying official development assistance (ODA) loans, one Ministry of Finance agency said on Tuesday.

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ODA interest rates to increase

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Báo Dân Trí English 1 month(s) ago

ODA interest rates for Vietnam may increase to 2%-3.5% starting from next July as preferential ODA loans end.

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SBV reiterates disallowance of loan rollover

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Báo Đầu Tư English 2 month(s) ago

The State Bank of Việt Nam has reminded foreign credit institutions and bank branches of its rollover loan requirements.

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PM weighs in on rice lending

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VietStock FI English 2 month(s) ago

PM weighs in on rice lending

Rice millers said yesterday they welcomed the prime minister’s announcement that the government would make over $20 million in funds available shortly to support cash-strapped millers and prop up falling paddy prices.

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Schools to teach financial literacy

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VietStock FI English 4 month(s) ago

The central bank is working on developing a new syllabus for financial literacy that will be included in the general education curriculum, but has yet to find a development partner to help craft a program, an official said yesterday.

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5 arrested for kidnapping Chinese businessman in Hanoi

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Báo Thanh Niên English 4 month(s) ago

Five men have been arrested in Hanoi for allegedly kidnapping a Chinese businessman to demand repayment of a 700,000-yuan (US$105,000) loan he had guaranteed for a friend.

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Banks offer credit for those with steady jobs

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VietStock FI English 5 month(s) ago

Banks offer credit for those with steady jobs

The number of banks offering advance salary loans has grown since Acleda Bank first introduced the concept in Cambodia in late 2013, though some financial institutions remain wary of offering the unsecured lines of credit.

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Rapid restructuring needed for transport sector: Deputy PM

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Báo Đầu Tư English 6 month(s) ago

Rapid restructuring needed for transport sector: Deputy PM

The Ministry of Transport needs to examine infrastructure development and quicken restructuring the sector in order to mobilise more off-budget funds for transport infrastructure development, said Deputy Prime Minister Trinh Dinh Dung.

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Acleda gets $70M to support women

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VietStock FI English 6 month(s) ago

Acleda Bank signed an agreement in Bangkok yesterday with International Finance Corporation and the Goldman Sachs 10,000 Women initiative for a $70 million long-term loan project to support Cambodia’s small- and medium- enterprises (SME) owned by women.

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Banks defend bailout of Hoang Anh Gia Lai

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Báo Đầu Tư English 6 month(s) ago

Banks defend bailout of Hoang Anh Gia Lai

The State Bank of Vietnam’s decision to help Hoang Anh Gia Lai Group overcome its enormous debts has sparked a controversy among market players.

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Circular tightens offshore borrowings

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Báo Đầu Tư English 7 month(s) ago

Circular tightens offshore borrowings

A circular containing new regulations on offshore borrowing took effect on April 15, expanding the central bank’s control over offshore borrowings to short-term loans. Doan Tu Tich Phuoc, lawyer at Duy Long Legal LLC, provides some insight on the topic.

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Bond market issuance high in 2016

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Báo Đầu Tư English 8 month(s) ago

Bond market issuance high in 2016

In order to comply with the 2016 socio-economic plan and meet the state budget for development and investment, regular expenditures, and debt repayment, the raising of capital through government bond channels continues to play an important role.

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Preferential ODA loans to be cut off from July 2017

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Báo Dân Trí English 9 month(s) ago

Preferential ODA loans to be cut off from July 2017

From July 2017, Vietnam would no longer receive preferential loans in the form of official development assistance (ODA), a finance department official said at a conference on March 22.

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Expert urges Vietnam to count pennies as gov’t debts spike

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Báo Tuổi Trẻ English 9 month(s) ago

Expert urges Vietnam to count pennies as gov’t debts spike

With debts owed by the Vietnamese government having more than doubled over the past five years, an economic expert warns against reckless spending to avoid exacerbating the situation.

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