The Bờ Đậu BOT toll station on National Highway 3 in the northern province of Thái Nguyên. — VNA/VNS Photo Việt Hùng HÀ NỘI — The State Bank of Việt Nam (SBV) has said it would continue to direct credit institutions to strictly control credit in potentially-risky areas such as real estate and securities, especially Build-Operate-Transfer (BOT) and Build-Transfer (BT) transport projects. This was part of the Central Bank’s report sent to the eighth session of the 14th National Assembly recently, which will be discussed by delegates. In the report, the SBV said many BOT and BT projects had been completed but were generating less revenue than planned, causing non-performing loans (NPLs) of about VNĐ53 trillion (US$2.27 billion). The SBV has repeatedly warned commercial banks about lending to BOT and BT transport projects due to the potential risks in this area. SBV data showed that in the first nine months of this year, credit growth reached 9.4 per cent compared with the same period last year, but loans for BOT and BT projects only increased by 1.85 per cent. Economist Võ Trí Thành told Người Lao động (The Labourer) newspaper that the banking system’s credit resources for developing BOT and BT transport projects was not only important… Read full this story
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