State bank of vietnam

The policymakers today (July 28) passed resolutions on the national financial plan and debt payment and mid-term public investment in the 2021-25 period, and State budget final accounts in 2019. For the 2021-2025 period, Vietnam is set to borrow VND3,068 trillion (US$134 billion) to serve socio-economic development targets, with the government being obliged to repay VND1,700 trillion ($74 billion) of direct debts. Overview of the National Assembly sitting. Photo: Nhat Bac The figure was included in a National Assembly (NA)’s resolution on the national financial plan and debt payment for 2021-2025, which has received the endorsement of 100% of deputies present today [July 28]. Meanwhile, the resolution set a ceiling for the public debt at 60% of the GDP, and the Government's debt at 50%. The Government’s debt repayment obligation should not exceed 25% of total budget revenue, and national foreign debt payment less than 25% of total exports. Under the … [Read more...] about Vietnam’s parliament approves plan to borrow US$134 billion in next 5 years

MoF suggests reducing trading board lot size from 100 to 10 on HSX The Ministry of Finance has suggested reducing the trading board lot size from 100 to 10 and providing favourable conditions for companies to list again on the Ho Chi Minh City Stock Exchange. Specifically, from July 5, the fresh trading system of the Ho Chi Minh City Stock Exchange (HSX) has officially been put into operation. According to the MoF, the congestion has been basically addressed, stabilising market sentiment, and demonstrating the drastic direction and management of the MoF. To further strengthen the role of securities market management and administration, the MoF required the SSC to follow the below nofitications: (1) Directing both local and foreign-invested securities companies, especially those holding large market shares to report on their technical system infrastructure in a bid to ensure stable and smooth trading. (2) Reviewing the new trading system. Moreover, HSX is encouraged to … [Read more...] about VIETNAM BUSINESS NEWS JULY 28

With the use of digital money increasing rapidly during the pandemic, the financial industry needs the most intelligent solutions to detect and counteract complex threats that never seem to stop. — Photo courtesy of Kaspersky HCM CITY — With the use of digital money increasing rapidly during the pandemic, it has become crucial for the financial sector to integrate security and improve their threat intelligence capabilities, according to cybersecurity experts. According to the State Bank of Vietnam, last year nearly 374 million transactions worth more than VNĐ22.4 quadrillion (US$974.5 billion) were made via the internet, up 8.3 per cent and 25.5 per cent from 2019. Besides, nearly 918.8 million transactions worth nearly VNĐ9.6 quadrillion were made via mobile phones, an increase of 123.9 per cent in volume and 125.4 per cent in value yea-on-year. Lockdowns due to the pandemic have caused digital payments to skyrocket. According to the 2020 Doing Business report released by … [Read more...] about Financial sector needs to improve threat intelligence: experts

Vuong Dinh Hue (second from right) has become the 15th National Assembly Chairman The first session of the 15th National Assembly (NA) kicked off last Tuesday and officially re-elected Vuong Dinh Hue, Politburo member and Chairman of the 14th NA, to be the head of the 15th legislative body, with all 475 votes in favour. After the ballot, Hue took the oath of office, saying “Under the national flag and before the NA and constituents and people nationwide, I vow to be completely faithful to the country, people, and the Constitution of the Socialist Republic of Vietnam. I will do my utmost to accomplish all tasks assigned by the Party, the state, and the people.” On March 31, professor in economics Hue, who was also Secretary of the Hanoi Party Committee, became the new Chairman of the 14th legislature as well as chairman of the National Election Council. Replacing former NA Chairwoman Nguyen Thi Kim Ngan, 64-year-old Hue has become the 12th NA chairperson since 1946 when … [Read more...] about NA devotes itself to serving people