A leading expert says financial leasing is a key channel to ease pressure on banks and serve Vietnam’s massive SME market.

The increase in the USD/VND exchange rate in Vietnam is in contrast to the continuous cooling of the greenback in the international market due to a surge in domestic dollar demands for foreign debt repayment.

Leading banks in Vietnam, including Vietcombank, Agribank, and BIDV, propose a special lending mechanism to accelerate loan approvals for large-scale national projects, boost investment, and enhance economic growth.

Vietnam is set to establish international financial centers in Ho Chi Minh City and Da Nang, aiming to create new growth drivers and achieve double-digit economic growth.

By establishing an international financial centre, Vietnam aims to create a distinct institutional area to attract international financial investors.

The US Department of the Treasury has continued not to list Vietnam as a currency manipulator in its latest semi-annual report on the macro-economic and foreign exchange policies of major trading partners of the US.

Prime Minister Pham Minh Chinh signed Decision 1160/QD-TTg, dated October 6, 2023, on establishing a steering committee on formulating a regional and international financial center project in Viet Nam.

Multiple consumer finance companies have fallen into distress as demand for consumer goods is on the decrease, while financial costs are on the rise. The golden days of the consumer finance market are over.

As 2020 nears its end, assessments are being made of the performance of the nation’s crucial financial markets, which have been holding up well despite the heavy impact of the pandemic and global recession.