For instance, Techcombank reaffirmed its prime focus on real estate and personal lending, in which home loan accounts for 44 per cent of the retail debt structure. Techcombank only focuses on groups with high incomes and good repayment ability. For instance, Sun Group and Vingroup made up for a total 70 per cent market share, thus, the bank has chosen them as major customers in the resort segment. … [Read more...] about Banks bet on consumer credit growth
Zain borrow credit
Implementing Action Programme 33 of the provincial Party Committee’s Standing Board on the implementation of Directive 40 of the Party Central Committee on strengthening the Party leadership over social policy credit, the authorities of districts, towns and cities across the province has paid attention to allocating capital from the Vietnam Bank for Social Policies for poor people and policy beneficiaries.social policy credit has significantly contributed to narrowing the gap between rich and poor, reducing unemployment, fulfilling criteria for building new rural areas, and playing an important role in stabilising and developing the local economy. Especially, outstanding loans for ethnic minority households have so far reached 337 billion VND. … [Read more...] about When the Party’s Directive 40 spreads in life!
In addition the country’s efforts to foster the development of the private sector, including small- and medium-sized enterprises, have achieved a number of positive results. The number of newly-established enterprises and total newly-registered capital volume in 2019 and the past five years reached record levels. The ratio of enterprises out of 1,000 people has consecutively increased, at 7.6 in 2019, 7.3 in 2018, 6 in 2017, and 5.4 in 2016. The number of businesses resuming operation in the first eight months climbed 27.9 per cent on-year. … [Read more...] about How to drive the economy by reforming state-owned debt
The Party Committee, People’s Council and People’s Committee of Si Ma Cai have also agreed to transfer the local budget for poverty reduction to the VBSP with over 28 billion VND trusted to the bank in the past five years. This has helped raise the total outstanding balance of the VBSP in the district as of the end of 2019 to 220 billion VND, 90 billion VND higher than that in the end of 2014. … [Read more...] about Capital convergence helps boost poverty reduction
Meanwhile, C.K. Tong, CEO of BW Industrial Development JSC said that there are many promising areas for investment in Vietnam. "I believe that Vietnam could utilise its resources to develop well and mobilise more capital flows. Vietnam could be the most advanced economy in the region, even surpassing Thailand and Singapore," he said. … [Read more...] about Standard Chartered online forum highlights Vietnam as rising star in FDI