Importance of business growth

On May 7, the SBV  issued guidance for Vietnam Bank of Social Policies to provide loans at 0% interest rates with worth a total of VND16 trillion (US$686.42 million) for customers directly affected by the pandemic and businesses in paying salaries and wages for furloughed staffs. … [Read more...] about Vietnam credit growth slows to 2.13% in 6-month period

The municipal People’s Committee assigned the Department of Industry and Trade and the Saigon Times Group to launch the award. The award attracted 64 enterprises in different industries within one month after launch. It will be held annually. The 30 enterprises are leading companies or at the top of their business and production industries. Their total revenue in 2019 reached nearly 252.8 trillion (11 billion USD), or 21.8 percent of the city’s total revenue of retail sales of consumer goods and services. Their total after-tax profit reached almost 32.7 trillion VND. According to the evaluation of the Voting Council, most of the products and service brands of the winning enterprises have undergone a long process of establishment and development. They have had a firm position in the marketplace and a good reputation in customers’ minds and made active contributions to the city’s economic development. Bui Ta Hoang … [Read more...] about Thirty businesses win HCM City Golden Brand Award

The latest update released at the 2020 shareholders’ meeting showed the bank’s outstanding loans had reached VND291.4 trillion as of May 31, an increase of 9.88 percent compared with the beginning of the year. The central bank explained that because of Covid-19, demand is weak and people have tightened their purse strings.  … [Read more...] about Credit grows slowly, but banks still make profits

At the meeting, the leaders of the departments, industries, and enterprises of Lam Dong Province affirmed that the preparation of goods for the Tet market, in general, and the HCMC market this year is on schedule. Tet goods are plentiful and diverse. They will prevent a shortage of supply, which causes sudden increases in the selling prices. Mr. Bui The, Deputy Director of the Department of Industry and Trade of Lam Dong Province, said that to serve the Tet market, the specialized vegetable growing areas of the province, including Da Lat City, Don Duong, Duc Trong, Lac Duong, and a part of Lam Ha district, had cultivated more than 24,000 hectares of vegetables of all kinds, with an output of around 780,000 tons, up 5 percent over the same period last year. Of which, many kinds of vegetables, such as napa cabbage, onion, potato, lettuce, tomato, cabbage, turnip, and scallion, increased sharply in both growing area and output, from 5 percent to 19 percent, depending on the product. More … [Read more...] about HCMC, Lam Dong cooperate to prepare supply of vegetables, flowers for Tet market

The SBV’s statistics showed that by June 2020, the bad debt ratio of the CI system was below 2 percent so the ratio of the whole year may reach the target of below 3 percent set in Decision 1058. From 2012 to the end of March 2020, the entire CI system handled more than 1,000 trillion VND (43.48 billion USD) of bad debts. … [Read more...] about Vietnam’s credit institutions must speed up restructuring to meet deadline