But experts have said the lower policy rates have not had a major impact on the economy since businesses have trouble accessing bank credit not due to high interest rates but because they could not prove their repayment capability amid the uncertainties caused by the pandemic. … [Read more...] about Central bank cuts rates for 3rd time
Accordingly, the interest rate of compulsory reserves in VND at banks will be 0.5 percent per annum, and the interest rate on dong deposits from banks that exceed the minimum 3 percent requirement will be zero percent per annum, down 0.5 percent compared to the rates stipulated in a decision on March 16 this year. Meanwhile, the interest rate for deposits in VND by the Vietnam Development Bank (VDB) and Vietnam Bank for Social Policies (VBSP), both state-owned banks; People's Credit Funds and microfinance institutions will be reduced by 0.2 percent to 0.8 percent per annum. The interest rate for deposits of the State Treasury, and the Deposit Insurance of Vietnam with the SBV is revised down to 0.8 percent per annum, down 0.2 percent. The SBV said the adjustment was made based on macro-economic developments and the level of interest rates in the market. … [Read more...] about State Bank of Vietnam cuts some interest rates
Mapletree is one such developer in Vietnam. As of March 31, Mapletree owned and managed S$60.5 billion ($43.7 billion) of office, retail, logistics, industrial, data centre, residential, and lodging properties. To date, Mapletree’s investments in Vietnam have exceeded S$1 billion (727 million) with assets across Hanoi, Ho Chi Minh City, Binh Duong, and Bac Ninh, as well as eight warehouse assets. … [Read more...] about Singaporean imprint in the Vietnamese property market
Speaking at the ceremony, Nguyen Thanh Hai, Deputy Chairman of the provincial People’s Committee, expressed his deep thanks to VietinBank for its significant assistance and stressed that this meaningful gift would contribute to encouraging local students to study harder. … [Read more...] about VietinBank funds for building 5 schools in Phu Tho
Viettel among investors of new high-speed under-sea cable ADC The telecom giant Viettel on June 19 announced it is among the members of a consortium developing a high-performance under-sea cable connecting Vietnam, China, Japan, the Philippines, Singapore and Thailand. … [Read more...] about How are SOEs’ outward investment projects performing?