A group of 16 commercial banks, accounting for 75% of total outstanding loans, has committed to foregoing around VND20.6 trillion ($906.3 million) in waiving and lowering interest rates for customers in the remainder of the year. From January 23 to August 31, banks have foregone a total of VND26 trillion ($1.14 billion) in profit to support customers, while 16 banks have reduced their profit by VND8.86 trillion ($390 million) from July 15 to August 31, or 43% of their committed amount. Since the first Covid-19 outbreak last year, commercial banks and credit institutions under the instruction of the State Bank of Vietnam (SBV) have been actively providing support for businesses struggling with the Covid-19 impacts and stabilizing the macroeconomy for a speedy recovery. Vietnam Bank for Social Policies at Ba Vi District, Hanoi, provides preferential loans for customers. Photo: Hong Dat In 2020, the SBV cut the policy rates three times with a total of 1.5-2 …
Daily Covid-19 infection tally falls on Thursday
Vietnam confirmed an additional 9,472 Covid-19 infections on Thursday and 6,226 patients were discharged from hospital following their recovery the same day, according to the Ministry of Health. Health workers take samples for Covid-19 testing in Hanoi According to the ministry's report, 9,465 of the new patients are locally-transmitted cases confirmed in 33 localities including HCM City (5,052), Binh Duong (2,764), Dong Nai (760), Long An (190), Kien Giang (163), An Giang (109), and Tay Ninh (86). There were seven imported patients confirmed today. The new infection number showed a decrease of 2,060 cases compared to yesterday's figure. There were 5,344 infections found in the community. As of Thursday evening, 723,962 infections have been reported since the new outbreak occurred in the country in late April, with some southern localities recording high infections such as HCM City (358,707), Binh Duong (190,257), Dong Nai (43,122), Long An …
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Hanoi pushes for GRDP growth of 4.54% in 2021: Mayor
Hanoi is committed to constantly improving the business/investment environment to attract investment capital into the city. While the Covid-19 fight remains a priority for Hanoi, the city would push for a gross regional domestic product (GRDP) growth of around 6.98% for the fourth quarter, and eventually 4.54% for the whole year. Chairman of the Hanoi People's Committee Chu Ngoc Anh. Photos: Thanh Hai Chairman of the Hanoi People’s Committee Chu Ngoc Anh stressed the view in a hearing held by the 16 th municipal People’s Council during its second session today [September 23]. According to the mayor, despite the serious Covid-19 situation, Hanoi’s GRDP growth in the second quarter was estimated at 6.61%, higher than the 5.17% growth attained in the previous one. This resulted in the economic growth of 5.91% for the six-month period, above the national average rate of 5.64%. During the first eight months of 2021, state budget revenue stood at VND164.4 …
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Strong private sector key to Vietnam economic transformation: Report
A private sector-led low-carbon economic growth model can enable Vietnam’s goal of becoming a high-income country by 2045. As Vietnam fights another wave of Covid-19, accelerating the pace of reforms, upgrading workforce skills and infrastructure will strengthen the private sector to help the country recover from the pandemic and unlock its potential, according to a new World Bank Group report. A manufacturing facility in Hanoi. Photo: Nguyen Viet The Vietnam Country Private Sector Diagnostic (CPSD) report, by IFC and the World Bank, says while the private sector has played a frontline role in Vietnam’s outstanding development in recent years, it’s now time to fully exploit the potential of the private sector to boost productivity growth so Vietnam can achieve its goal of becoming a high-income country by 2045. “The private sector has helped propel Vietnam to join the ranks of middle-income economies in just one generation, and the country was preparing for …
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PM highlights need for safe adaptation to pandemic, containment solutions
At the meeting of the National Steering Committee for COVID-19 Prevention and Control . (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on September 23 urged studying measures to ensure safe and flexible adaptation to the COVID-19 pandemic along with effective disease containment solutions. Speaking at a meeting of the National Steering Committee for COVID-19 Prevention and Control, the Government leader said the pandemic has been gradually put under control. However, a few localities have failed to make noted progress in the combat, and the situation remains complicated in Ho Chi Minh City, said Chinh, who is also head of the committee. Affirming that measures undertaken so far are appropriate and effective, he asked ministries, agencies and localities to continue following the set major orientations and measures in the time ahead. The PM stressed that instruction should go in tandem with inspection and supervision, and reiterated the principles that …
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Cuba, Vietnam preserve historical memories: Cuban Ambassador
Orlando Hernández stressed that this was the first visit to Cuba of a head of state since the outbreak of the COVID-19 pandemic, and also the first high-level visit between the two countries since the two countries’ Party congresses, and on the occasion of the 61st anniversary of establishment of diplomatic ties. Cuba will cooperate with Vietnam in providing and transferring technology to produce COVID-19 vaccines - one of the important topics mentioned during this visit, he affirmed, adding that the two countries’ leaders also discussed potential for cooperation in the fields of tourism, renewable energy, biotechnology, pharmaceutical industry, bio-genetics, telecommunications and transport infrastructure. Vietnam is the second largest foreign investor in the Mariel Special Development Zone and also Cuba's second largest trading partner in Asia, only after China. He expressed his belief that Vietnam’s investments in Cuba will bring about practical benefits for both countries, …
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