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Besides enlarging the credit registry coverage, CIC last year also cut the price of its credit information products and services given to credit institutions during the COVID-19 pandemic, to help the institutions cut operating costs, enabling them to lower interest rates so as to help borrowers in accessing bank credit. … [Read more...] about Viet Nam’s credit registry coverage higher than world’s average

Hanoi (VNS/VNA) – Vietnam’s credit registry coverage increased to 59.6 percent in 2020 from 41.8 percent in 2015, said Do Hoang Phong, director of the Vietnam Credit Information Centre (CIC). The rate was higher than the average level of the Asia Pacific region and the Organisation for Economic Co-operation and Development (OECD) countries, Phong noted. Phong said the country’s credit registry coverage had been continually improved with last year seeing an increase of more than 2.9 million new borrowers against the previous year, bringing the total number of customers in the national credit information data to more than 45.6 million. The numbers were 30 percent higher than the targets set in the industry’s development project for the 2015-20 period. CIC has launched a portal connecting borrowers and credit institutions so that borrowers can now easily choose credit packages and register loan needs at the appropriate credit institutions through the online … [Read more...] about Credit registry coverage higher than world’s average

However, Nguyễn Kim Anh, deputy governor of the State Bank of Vietnam, said the development of the nation’s credit registry coverage must be associated with ensuring cybersecurity and credit information safety to protect legal rights of parties participating in the national credit information system. — VNS                              … [Read more...] about Việt Nam’s credit registry coverage higher than world’s average

Despite the impact of the pandemic, more than 1.3 million jobs were created in 2020, meeting 83.3 percent of the goal set for the year and bringing the total number generated in 2016-2020 to nearly 8 million. Sixteen million people, or 33.2 percent of people of working age, joined the social insurance network last year. … [Read more...] about Voluntary social insurance coverage sees rapid growth in 2019-2020: Conference

Hanoi (VNA) - Forest product exports are expected to reel in 14.5 billion USD this year, up 12 percent against 2020, an official has said. Deputy Minister of Agriculture and Rural Development Ha Cong Tuan unveiled the target in an interview with the Lao Dong (Labour) newspaper on the growth of the forestry sector over the next five years. Export value is set to reach 20 billion USD in 2025. During the five-year period, he said, the sector will work to sustain the forest coverage rate at 42 percent, expand distribution markets, develop long-term trade partnerships, and promptly address trade issues for mutual benefits in line with international commitments. The minister also touched on a number of positive outcomes made by the sector last year despite COVID-19. Vietnam exported forest products worth over 13.22 billion USD, up 16.9 percent against the previous year, and 5.7 percent higher than the annual target. The country now ranks fifth globally, second in Asia, and first in … [Read more...] about Vietnam aims to earn 14.5 billion USD from forestry exports