Anz

While western banks are having limited presence in Vietnam, their Asian peers have greater interests in the country.

The Association of Southeast Asian Nations (ASEAN) governments need better coordination and closer integration to thrive in a post-Covid world and avoid a weaker and more protracted recovery.

These actions stem from the sharply lower - albeit positive - growth that Vietnam faces from the Covid-19 pandemic.

Foreign banks have decided to boost consumer finance loans as the business segment is forecast to maintain double digit growth this year.

The new coronavirus is estimated to shave 0.81 percentage points off Vietnam's annual GDP growth.