Banking & Finance

As of November 30, 2021, total bad debts according to criteria set out in resolution No.42 were estimated at VND420 trillion ($18.4 billion), down 15.74% against August 14, 2017, the date the resolution No.42 became effective.

At the end of 2021, outstanding Government bonds and corporate bonds comprised 71.3% and 28.7% of the local bond market, respectively.

The support, estimated at a maximum of VND40 trillion (US$1.76 billion), is part of the overall socio-economic recovery program worth VND350 trillion ($15.4 billion).

The public debt threshold should not exceed 60% of the GDP for the 2021-2025 period, Government debt less than 50% of the GDP, and foreign debts below 50%.

The launch of the portal is designed to help foreign entities without representative offices in Vietnam fulfill their tax obligations without difficulties.

Large foreign reserves, prospects of trade surplus, and positive remittance inflows could be factors to ensure the stable USD/VND exchange rate in 2022.

Rising oil prices may lead to Vietnam’s inflation in 2022 rising beyond the 4% target set by the National Assembly.

Resolution No.42, scheduled to end in August, has been seen as an effective instrument to curb bad debts in the banking sector since it was launched five years ago.

Vietnamese businesses in Russia are urged to stay calm and monitor the situation to act accordingly.

Tension in Europe is the most concerning issue for investors at the moment, and the aggravation of the situation could impact the local stock market in the short term.

Over 13,200 household businesses have paid taxes online after nearly two months of the implementation.

The market ended last Friday at 1,505, three points higher than the previous week.

The country has a lot of potential for growth and investment attraction.

Investors would be able to access this information via purchasing accounts from data service providers.

It’s about time for foreign investors to position themselves now and be ready for the moment when Vietnam is upgraded to Emerging Market status – a foreseeable prospect in the next few years.

Banks’ support for the economy would help realize the GDP growth target of 6-6.5% for this year.

Fitch Rating revised Vietnam’s operating environment score for banks to ‘bb-’ from ‘b+’.

The Vn-Index rose in the Lunar new year’s first six sessions during the 2016-2021 period, with 2020 being the only exception due to the emergence of the Covid-19 pandemic.

Favorable business conditions and ample liquidity would lead to robust credit growth in the first half of 2022.

A 2% rate cut in the value-added tax (VAT) would cause a decline of VND49.4 trillion (US$2.1 billion in state budget revenue, but is necessary to support socio-economic recovery.