Banking sector

“In the coming time, the SBV will continue to encourage the promotion of consumer loans, but the amount of growth will depend on the absorption capacity of the economy. Currently, the demand for consumer loans is feeble in the context of unstable jobs and declining income resulting from the pandemic,” said Hung. “However, banks and consumer finance companies cannot churn out loans inconsiderately for fear of incurring bad debts.” … [Read more...] about Banks bet on consumer credit growth

Vietnam's LNG market becomes busy as energy sector restructures Though the LNG market in Vietnam is still in its infancy, both state-owned enterprises like PV Gas and private companies like Angelin Energy see its great potential, reported Nhip Cau Dau Tu. … [Read more...] about Vietnam’s energy sector a magnet for foreign investors

The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers. Central banks, commercial banks, and tech and advisory firms are invited to partner with Mastercard to assess CBDC tech designs, validate use cases and evaluate interoperability with existing payment rails available for consumers and businesses today. … [Read more...] about Mastercard launches central bank digital currencies (CBDCs) testing platform

HCM City (VNS/VNA) - National electricity demand is expected to increase by 8.5 percent a year until 2025 and 7 percent until 2030, making Vietnam an attractive market for foreign energy investors. The economy is expected to grow at 6.5-7.5 percent annually until 2030, and would require 90,000MW of power by 2025 and 130,000MW by 2030. At the 2020 Vietnam Energy Summit in July in Hanoi a number of deals for investment in energy projects were signed, including the memorandum of understanding by the Copenhagen Infrastructure Partners, Asiapetro and Novasia Energy with the Binh Thuan Provincial People’s Committee to develop the 3.5GW La Gan offshore wind power project at a cost of 10 billion USD. Many investors said Resolution No 55-NQ/TW for strategic orientations for national energy development through 2030 has created a favourable environment to invest in the country’s power sector. The resolution prioritises renewable and clean energy, offering foreign … [Read more...] about Vietnam’s energy sector a magnet for foreign investors

Feed-in tariffs (FIT) for solar power were considered too high, and though they fell quickly as technology improved from 9.35 US cents per kilowatt-hour in 2017 to 7.09 cents last year for plants on land, they remain quite high compared with other countries. … [Read more...] about VN energy sector a magnet for foreign investors