Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at 151 trillion VND (6.49 billion USD) by May 25, according to the State Bank of Vietnam.
Hanoi (VNS/VNA) - Financial firms extended loan dues for more than 223,000borrowers whose outstanding loans stood at 151 trillion VND (6.49 billion USD) by May 25, according to the State Bankof Vietnam.
Financial firms also cutinterest rates for more than 320,000 borrowers whose outstanding loans totalled1.14 quadrillion VND.New loans, worth 767 trillion VND, were disbursed to more than 196,000 clients with rates cut by0.5-2.5 percent from the pre-pandemic period.
The global pandemic had hadnegative impacts on all socio-economic aspects and dragged on all economicsectors and businesses, the central bank’s credit department director Nguyen Quoc Hung, said at a meeting thisweek.
Credit growth rates of thebanking sector in the first four months of the year were lower than a year ago,he said.
Credit growth as of May 20 was 1.32 percent. The rates inJanuary, February, March and April were 0.1 percent, 0.07 percent, 1.1 percentand 1.42 percent, respectively.
The pandemic means borrowershad been unable to pay their debts on the due dates, Hung said, adding possible uncollectableloans were worth 2 quadrillion VND or 23 percent of the financial-banking sector’s total.
The worst-hit sectors includedprocessing and manufacturing, transport, accommodation, eatery and hospitality,and education and training, he said.
To help the local businesscommunity recover, the central bank had cut controlling rates twice by total1.5 percent per annum since the outbreak started in early February. Maximumlending rates for short-term loans in prioritised sectors were curbed by 1 percentto 5.0 percent per annum.
The National PaymentCorporation of Vietnam (NAPAS), the National Credit Information Centre ofVietnam (CIC) and NAPAS members had helped customers cut costs to promotecashless transactions by cutting transaction fees, he said./.
The outstanding loans of 12 inefficient projects under the Ministry of Industry and Trade totalled nearly 21 trillion VND (892.7 million USD) as of the end of 2019, most were overdue, according to the Government’s report to the National Assembly.
Banks cut interest rates for loans worth more than 1.12 quadrillion VND (49 billion USD) of nearly 322,190 borrowers affected by the COVID-19 pandemic as of May 11, a State Bank of Vietnam (SBV) report showed.
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) planned to increase its chartered capital from its accumulated profits or paying dividend by stocks. The plan is being completed by the competent State agencies to complete the legal procedures for implementation.
The State Bank of Vietnam will consider simplifying lending procedures to help COVID-19-affected firms easily access preferential interest rate loans, SBV Deputy Governor Dao Minh Tu said.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
Transactions at HDBank (Source: HD Bank) 
