Headquarters of the State Bank of Viet Nam in Ha Noi. The SBV will maintain its 14 per cent credit growth target for the remainder of 2019. — Photo SBV The State Bank of Viet Nam (SBV) will hold its benchmark refinancing and discount rates at 6.25 per cent and 4.25 per cent, respectively, in addition to maintaining its 14 per cent credit growth target for the remainder of 2019, experts forecast. “We expect the SBV to keep its monetary policy on hold for the remainder of 2019. Monetary policy transmission in Viet Nam remains weak and this informs our view for the SBV to continue to manage financial risks through non-interest rate measures such as loan directives and macro-prudential measures,” analysts from Fitch Solutions told Viet Nam News. On the one hand, the analysts said, Viet Nam’s five-year government bond yield stands at 3.85 per cent, below the SBV’s discount rate of 4.25 per cent, and this continues to suggest that monetary policy … [Read more...] about Central bank to keep monetary policy on hold through 2019
Government supported mortgages
Vietnam needs to develop affordable homes
The real estate market is suffering a severe shortage of affordable homes despite the segment witnessing huge demand, attendees heard at a conference on Thursday. Experts say that Vietnam needs to come up with policies for developing affordable homes. - Photo danviet.vn Expert Dang Hung Vo said at the conference held by Dan Viet newspaper that the structure of property products in Vietnam did not match market demand, especially in Ha Noi and HCM City. Vo pointed out that the supply of high-end apartments was abundant while there was a shortage of affordable homes. The Central Institute for Economic Management (CIEM) cited statistics showing that as Vietnam was undergoing rapid urbanisation, on average around 1 million people migrated from rural areas to big cities like Ha Noi and HCM City each year and the figure is expected to rise further. This increases demand for affordable homes in big cities. It was estimated that demand for affordable homes accounted for around 60-70 … [Read more...] about Vietnam needs to develop affordable homes
Việt Nam needs to develop affordable homes
Viet Nam News HÀ NỘI — The real estate market is suffering a severe shortage of affordable homes despite the segment witnessing huge demand, attendees heard at a conference on Thursday. Expert Đặng Hùng Võ said at the conference held by Dân Việt newspaper that the structure of property products in Việt Nam did not match market demand, especially in Hà Nội and HCM City. Võ pointed out that the supply of high-end apartments was abundant while there was a shortage of affordable homes. The Central Institute for Economic Management (CIEM) cited statistics showing that as Việt Nam was undergoing rapid urbanisation, on average around 1 million people migrated from rural areas to big cities like Hà Nội and HCM City each year and the figure is expected to rise further. This increases demand for affordable homes in big cities. It was estimated that demand for affordable homes accounted for around 60-70 … [Read more...] about Việt Nam needs to develop affordable homes
Agricultural cooperatives in HCMC need more support
The trend of collaboration At the moment, there are 61 cooperatives and 236 collaborative teams in HCMC, along with Hung Dien Import-Export-Organic Agricultural Cooperative Union, which is located in Binh Tan District and has 4 members of Duyen Hai, Truong Thinh, Dien Phat, as well as Green Organic Aquaculture. This year, there are 8 new agriculture cooperatives, increasing the total amount of arable farm to 646ha, with the average of 13.5ha per cooperative. Among them, the leader as to surface area for cultivation is Tho Viet Cooperative with 108ha to grow organic vegetables, while the least is Ngoc Diem Cooperative with 0.85ha to grow ornamental plants. 26 out of 61 cooperatives in HCMC successfully follow the policy to produce and sell agricultural goods like organic vegetables, ornamental plants, cattle, aquaculture produce, and girdle-cakes. Reports of the HCMC Department of Agriculture and Rural Development show that the connections among cooperatives or between … [Read more...] about Agricultural cooperatives in HCMC need more support
VAMC, banks auction mortgaged assets to recover bad debts
VAMC, banks auction mortgaged assets to recover bad debtsThe Saigon Times Daily VAMC and multiple banks have auctioned mortgaged assets to settle bad debts - PHOTO: THANH HOA HCMC - Vietnam Asset Management Company (VAMC) and multiple banks have put up the mortgaged assets for auction to speed up the settlement of bad debts, according to Nguoi Lao Dong newspaper. VAMC announced its business plan earlier this year, which stated the company would buy a maximum of VND32 trillion (US$1.4 billion) worth of nonperforming loans using its special bonds and would use cash to purchase VND3.5 trillion worth of bad debts. VAMC targeted settling some VND34.5 trillion worth of bad debts this year. VAMC recently seized entitlement certificates over 13 land plots and land-attached properties, including a plot of land and assets on Nam Ky Khoi Nghia Street in HCMC’s District 3. Green City Construction Investment JSC had used the assets as collateral for loans taken from Vietnam Bank for … [Read more...] about VAMC, banks auction mortgaged assets to recover bad debts