Banking & Finance

The VN-Index ranked above Russell 3000, Nasdaq, or S&P 500, among others, in terms of growth in August.

The importance of macro stability for the country to foster healthy economic growth.

Transaction values via smartphones increased by 177% in the first half of 2020.

As of August 15, budget revenue collection reached VND812.2 trillion (US$35.04 billion), equivalent to 53.7% of the year's estimate.

Getting SOEs in Vietnam to be financially independent for the future.

The portal would put more pressure on government agencies in ensuring efficiency of public services, said a senior World Bank official.

Being allowed to short sell and trade at T+0 will help Vietnam improve evaluation criteria under global providers of financial services such as FTSE Russell and MSCI.

The central bank suggested the move is necessary to ensure efficiency of existing preferential rates policy for customers amid the Covid-19 pandemic.

An expansionary and flexible fiscal policy would help stimulate aggregate demand, create jobs and boost economic growth, stated Prime Minister Nguyen Xuan Phuc.

Vietnam trading activities would benefit from a stable exchange market, which is the central bank's target to buy in foreign currency, said banking expert Nguyen Tri Hieu.

This resulted in more than VND46 trillion (US$2 billion) being pumped into the economy.

Foreign investors are returning to the market with its net outflow narrowing from VND12 trillion (US$520 million) since its March bottom to VND1.8 trillion (US$78 million) as of mid-August.

Some large SOEs are facing difficulties in valuation, mainly due to complicated financial situations, which causes delays in the privatization process.

HSBC’s bonds issuance underscores the bank’s long term commitment to Vietnam.

By the end of 2019, Vietnam’s public debt had significantly dropped to 55% of GDP from 63.7% in 2016.

Cutting deposit interest rates on required reserve of commercial banks is not a further monetary easing.

As of July 20, the government delayed a payment worth VND47.6 trillion (US$2.04 billion) of land rental fees and taxes for enterprises, organizations and household businesses.

The stock market still proves to be quite attractive in the context of redundant liquidity and other investment channels having not fully recovered.

Lower interest rates of deposit of required reserves and deposit of non-required reserves are expected to encourage commercial banks to inject more cash into the economy.

Priorities would be to avoid any disruption to the economy and a negative growth scenario as Vietnam’s major economic partners face severe impacts from the pandemic.