Banking & Finance

A robust public finance management system will enable Vietnam to achieve its long-term socio-economic growth.

Last year, a similar cut caused the state to miss out on VND3.5 trillion (US$150 million) in revenues.

During the first 10 months of 2022, the State Bank of Vietnam (SBV) was forced to sell an estimated 20% of total foreign exchange reserves to stabilize the exchange rate.

The forecast comes from the country's solid growth of 8% in 2022.

As many as 73% of Vietnamese investors still believe in digital assets, despite market turbulence in 2023.

The authorities also extended the payment deadline for taxes and land rental fees of VND106 trillion ($4.5 billion) for local firms.

Banks' lending continues to be channeled into priority economic fields rather than high-risk ones, such as real estate or the stock market.

Banks should exercise caution when making large loans to customers or financing large-scale projects to minimize risks.

The favorable economic backdrop has enabled banks to take advantage of ample asset origination opportunities to expand while rising household incomes and improved business cash flow keep credit risks in check.

The Hanoi-based company, with a registered capital of US$42.3 million, would oversee securities registration, deposit, clearing, and payment processes.

Vietnam’s total tax revenue was estimated at VND1,460 trillion ($61.86 billion), exceeding the estimate by 24.3%.

Banks are requested to be responsible for supporting growth and containing inflation simultaneously.

The expansion of the credit room by 1.5-2 percentage points would mean an addition of VND156-200 trillion ($6.5-8.3 billion) being injected into the economy.

The rated scientists, including some Hanoi-born researchers, are working at universities, including Vietnam National University and Ton Duc Thang University.

Experts call for the central bank to expand the credit growth target to 15-16% this year.

With digital payments becoming the go-to choice for a seamless experience, Google Wallet is now available in Vietnam.

The Vietnamese Parliament expects a budget deficit of VND455.5 trillion (US$18.35 billion), or 4.42% of GDP, for next year.

Vietnam is among five economies removed from the monitoring list for "having met only one out of three criteria for two consecutive reports."

The Government set the goal for total outstanding loans in the corporate bond market to reach at least 20% of the GDP by 2025, and 25% by 2030.

The high revenue was thanks to Vietnam’s speedy economic recovery, including a GDP growth of 8.83% in the year's first three quarters.