Foreign currency capital not a concern
14:25 | 30/12/2014 Finance - Banking
(VEN) - The State Bank of Vietnam (SBV) affirmed that it would continue allowing credit institutions to make their own lending decisions pertaining to the provision of short-term foreign currency loans for petroleum businesses and companies which export goods via border crossings. This permission would remain in effect until the end of 2015.
Guiding VAT on several items
10:10 | 19/12/2014 Finance - Banking
(VEN) - The Ministry of Finance issued Office Notice 17709/BTC-TCT not applying the value-added tax (VAT) on fertilizers, machinery and equipment serving agricultural production, offshore fishing boats and animal feed from imports, production to trading from January 1, 2015.
IFC awards first EDGE certifications in Vietnam
10:34 | 18/12/2014 Finance - Banking
(VEN) - On December 16 in Ho Chi Minh City, the International Finance Corporation (IFC), a member of the World Bank Group, handed over its first EDGE resource efficiency certifications in Vietnam to the Nam Long Investment Corporation and the FPT City Da Nang Joint Stock Company.
Capital market development needed
10:54 | 16/12/2014 Finance - Banking
(VEN) - Vietnamese commercial banks have faced a big difference in maturity between assets and capital. According to the Banking Working Group at the 2014 Year-end Vietnam Business Forum (VBF) launched recently in Hanoi, it is necessary to work on specific solutions to resolve the imbalance to ensure safety of commercial banks and promote the development of the domestic capital market.
Ensuring liquidity for December
15:19 | 15/12/2014 Finance - Banking
(VEN) - Thanks to the credit growth at almost 11 percent by the end of November, the target of 12-14 percent by the end of this year could be possible. The State Bank of Vietnam (SBV) confirmed that in December the SBV will flexibly operate the market to ensure liquidity among credit institutions.
Implementing contents in amended laws
14:56 | 11/12/2014 Finance - Banking
(VEN) - The Ministry of Finance sent Office Notice 17526/BTC-TCT to provincial and municipal people’s committees, departments of finance and departments of taxation on implementing some contents in the amended laws and supplementing a number of articles in laws on taxation adopted in the eighth session of the 13th National Assembly (NA). Some contents need to be implemented in December 2014 in order to create favorable conditions for the deployment on January 1, 2015.
Government bond market: An important capital channel
10:54 | 11/12/2014 Finance - Banking
(VEN) - The year 2014 has seen the successful issuance of government bonds in both domestic and foreign markets. Capital resources raised through this channel have significantly contributed to increasing public investments, maintaining stable economic growth and strengthening Vietnam’s position in the international market.
Promoting bank,enterprise connection
14:03 | 10/12/2014 Finance - Banking
(VEN) - Banks have provided hundreds of trillions of Vietnamese dong worth of preferential loans for enterprises under a bank-enterprise connection program. This can be considered as one of the most successful credit programs of the banking system in 2014.