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Credit ratings for Vietnam is on an upward trend at the start of 2021 despite the raging pandemic thanks to the recovery in production, business and exports as well as new preferential loan policies to support domestic companies, experts stated.
Many commercial banks have submitted to their shareholders and proposed to increase charter capital in the context that credit growth must ensure capital adequacy ratio (CAR) following the international standards Basel II.
The ongoing relentless Covid-19 pandemic has severely affected almost all business and economic activities in Vietnam, and valuable and qualified human resource has taken a serious toll with several employees being laid off or having to accept large pay cuts.
The State Bank of Vietnam set the daily reference exchange rate at VND23,125 per USD on February 22, down VND9 from the last working day of previous week (February 19).
Economic slowdown and falling income have driven down demand for real estate segments during 2020.
The growth of cheap chicken imports in recent times has put greater competitive pressure on domestic products, thereby causing plenty of difficulties to domestic chicken producers, according to insiders.
The pandemic thwarted a plan to restore the railway sector by taking advantage of the peak traffic times in summer and Tet holidays.
Vietnam will grow at 7.6 percent this year, driven by newly signed free trade deals and rising foreign investment, HSBC has forecast.