Is it time to increase credit growth cap?
Though the central bank has shown no sign of revising the credit growth target of 14% for 2022, there is still room for increasing it amidst a soaring thirst for capital induced by a bond market crash. Why is credit expansion necessary? As a credit crunch can make the country’s post-pandemic
Risks on corporate leaseholders
The draft amendments to the Land Law are intended to limit options for one-time payment of land rent, and encourage annual rent payments instead. Such a change would ensure stable income and avoid losses for the State budget, but it poses risks to enterprises. In implementing the 2013 Land Law,
Switching to savings accounts
The number of current account savings accounts (CASA) held by individuals has declined though it had been projected to increase on fast online payment growth which would lead to cash payments dipping CASAs plunge The past two years saw strong growth in CASAs thanks to banks pushing for electronic
Jan-Nov goods exports expand over 13%
HCMC – Vietnam’s merchandise exports in the year to end-November had amounted to an estimated US$342.21 billion, a rise of 13.4% over the same period of last year, according to the General Statistics. According to the Government news website (chinhphu.vn), processed and manufactured goods
Techfest Vietnam 2022 seminars highlight corporate innovation
HCMC – Business representatives, State officials, and experts at home and abroad gathered at the Binh Duong Innovation seminar series held yesterday, sharing their insights about a roadmap for upgrading manufacturing toward Industry 4.0 and corporate innovation. The seminars are part of the
Danang sees industrial production up 8.6% in Jan-Nov
HCMC – Danang’s industrial production index (IPI) in the year to November had improved 8.6% over the same period last year, according to data from the Danang Statistics Office. During the 11-month period, the central coast city saw its manufacturing and processing sector expanding 7.4%
Fuel supply estimated to surge 10-15% in 2023
HCMC – The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media. In the first scenario, the total fuel supply should reach 25.9 million cubic
Ialy Hydropower supplies 100 billion kWh of power to national grid
HCMC – Ialy Hydropower Company of Vietnam Electricity Group (EVN) marked a milestone on December 2 by supplying 100 billion kWh of electricity to the national grid, according to the Vietnam News Agency. EVN’s Ialy Hydropower Company has managed the operation of three hydroelectric power facilities
Ministry proposes canceling funding plans over disbursement delays
HCMC – As disbursements remain slow and adversely affect Vietnam’s rebounding economy, the Ministry of Finance has proposed canceling the use of public capital sourced from foreign loans under the law on public investment if the money is not fully disbursed this year. Disbursements of public funds
HoREA asks for credit expansion by year-end
HCMC – The HCMC Real Estate Association (HoREA) has written to the prime minister and the State Bank of Vietnam proposing a national credit growth expansion of 1%, equal to VND100 trillion. In its letters, HoREA said it is time that the central bank raised the credit growth limit, as businesses
Binh Duong plans to build engineering supporting industrial zone
HCMC – The southern province of Binh Duong has inked a cooperation memorandum with Truong Hai Auto Corporation (THACO) for the establishment of an engineering supporting zone costing VND26,000 billion. Binh Duong Province and THACO will begin launching the project in 2023, with the provincial
International trade fair kicks off in HCMC
HCMC – The 20th Vietnam International Trade Fair, Vietnam Expo 2022, opened at the Saigon Exhibition and Convention Center in HCMC’s District 7 on December 1, featuring 550 booths with more than 520 enterprises from 20 countries and territories. The three-day event consists of a series of
