Banking & Finance

Mobile money services will be promoted in Vietnam, with priority given to regions where the prevalence of banking services is still low.

The support program is set to take effect in 2021.

Positive budget collection during the first seven months is thanks to economic recovery from late 2020 to June this year.

New support measures may lead to a decline of VND20 trillion ($870 million) in State budget revenue.

The request from the State Bank of Vietnam is expected to help people overcome difficulties during the Covid-19 outbreak and push cashless payment.

Credit demand has been on the rise in the first half of the year and is set to maintain its growth momentum for the second six months.

The policymakers today (July 28) passed resolutions on the national financial plan and debt payment and mid-term public investment in the 2021-25 period, and State budget final accounts in 2019.

The move, if realized, would be welcome news for investors, especially those with limited financial capabilities, to buy stocks in small quantities.

It remains unclear whether the rise of the stock market benefits enterprises and supports growth.

Both sides are committed to maintaining close cooperation and look forward to addressing other shared challenges, such as supporting a strong and inclusive recovery from the Covid-19 pandemic.

Vietnam’s bright economic outlook remains a pull factor for foreign investors.

The government expects a budget deficit of $86.7 billion, or 3.7% of the GDP, in the next five-year period.

The cut, which begins from this month to late 2021, will depend on each bank’s financial situation.

As the pandemic continues to persist, stronger measures are needed to restructure debts and lower interest rates for customers.

The total number of securities accounts in the country is estimated at over 3.39 million, or 3.5% of the population.

Over 85% of credit institutions and banks projected to be profitable in 2021.

The trading system went smoothly without any crash as liquidity reached VND28 trillion (US$1.22 billion) at the close, slightly up from previous sessions.

All factors are pointing to a positive prospect of Vietnam’s stock market by the end of this year.

A cautious approach in managing inflation could help ensure the consumer price index (CPI) staying below 3%.

Government agencies are working on a legal framework for the management of cryptocurrencies and assets.