Cooperatives display their products on the sidelines of a meeting held in HCM City on September 24 to review 15 years of implementation of the Party Central Committee’s resolution on continuing to reform, develop and improve the collective economy. (Source: VNA) HCM City (VNA) – Ho Chi Minh City has achieved positive results in the implementation of its collective economic model, with an increase in the number of cooperatives and their quality, according to the municipal People’s Committee. Speaking at a meeting on September 24 to review 15 years of implementing the Party Central Committee’s resolution on continuing to reform, develop and improve the effectiveness of the collective economy, Le Thanh Liem, Vice Chairman of the municipal People’s Committee, said the numbers of cooperative groups, cooperatives and unions of cooperatives have increased significantly over the past years to reach 2,097; 612; and 6 by the end of last year. They operate in … [Read more...] about HCM City’s collective economic model achieves good results
City cooperative bank shimoga
HCM City collective economic model achieves good results
Co-operatives display their products on the sidelines of a meeting held in HCM City on September 24 to review 15 years of implementation of the Party Central Committee’s resolution on continuing to reform, develop and improve the collective economy. — VNS Photo Xuân Hương HCM CITY — HCM City has achieved positive results in the implementation of its collective economic model, with an increase in the number of co-operatives and their quality, according to its People’s Committee. Speaking at a meeting on Tuesday to review 15 years of implementation of the Party Central Committee’s resolution on continuing to reform, develop and improve the effectiveness of the collective economy, Lê Thanh Liêm, deputy chairman of the People’s Committee, said the number of co-operatives and unions of co-operatives has increased significantly over the past years to reach 2,097; 612; and six by the end of last year. They operate … [Read more...] about HCM City collective economic model achieves good results
HCM City eyes boost to collective sector
A seminar on developing the collective agricultural sector was held in HCM City on June 21 by the HCM City Farmers Association. — VNS Photo Local co-operatives need to mobilise capital from their members or co-operate with enterprise members to improve their production and trading, the HCM City Cooperative Alliance has said. Speaking at a seminar on developing the collective economic model in agricultural in HCM City yesterday, Bui Tran Huy Vinh of the HCM City Cooperative Alliance, said: “The Capital Aid Fund for Cooperative Members of HCM City (CCM Fund) provided loans worth VND1.52 trillion (US$65.4 million) to 60,849 applicants last year and VND332.3 billion ($14.2 million) to 11,510 applicants in the first half of this year. “The money has helped co-operatives and their members, thereby contributing to economic development and building rural areas and reducing usury.” "But many co-operatives are unable to borrow from banks or the CCM Fund since they lack … [Read more...] about HCM City eyes boost to collective sector
Vietnamese banks see improved profitability
The profitability of Vietnamese banks has improved significantly, driven by growth in core income and robust macroeconomic conditions. A report from the State Bank of Viet Nam (SBV) released this week showed the return on assets (ROA) ratio of the domestic banking system surged to 0.7 per cent by the end of November last year from 0.57 per cent at the end of the previous year while the return on equity (ROE) ratio also increased by 1.42 percentage points to 9 per cent. Finance and finance leasing companies had the highest ROA ratio in the system, with 3.02 per cent. However, the rate decreased compared to the 3.57 per cent level recorded at the end of 2017. The companies also topped in ROE with 13.83 per cent. The group of policy banks ranked second with the ROA ratio of 1.02 per cent while cooperative banks had the lowest ROA at 0.42 per cent. The ROA ratios of State-owned and joint stock commercial banks were low at only 0.52 per cent and 0.76 per cent, respectively, much lower than … [Read more...] about Vietnamese banks see improved profitability
The central bank’s new strategy to sustain credit market in 4.0 era
The central bank’s Deputy Governor Nguyen Kim Anh Can you share with us the main goals of Decision 986? How will this new strategy impact the Vietnamese banking sector? The State Bank of Vietnam (SBV) has closely observed the development of the Vietnamese financial sector in the past two decades, realising the opportunities and challenges that financial institutions may encounter in the next ten years. With this in mind, Decision 986 is divided into two levels: First, the SBV will be modernised with a rational organisation model and synchronous, effective, and efficient operation mechanisms in line with the country’s socialist-oriented market mechanism. Our priority objective is to control inflation, contribute to Vietnam’s macroeconomic stability, and promote sustainable growth, while ensuring the safety and soundness of the credit institution network and performing our key role in ensuring financial stability. We will also continue our supervisory role for the … [Read more...] about The central bank’s new strategy to sustain credit market in 4.0 era