Vietnamese banks’ total lending rose 4.81% as of Sept. 16 from the end of last year, the State Bank of Vietnam said on Tuesday.
The first eight months of 2020 have seen few foreign direct investment (FDI) projects in Viet Nam's textile industry, a far less lively picture compared to the same period last year, the department of foreign investment under the Ministry of Planning and Investment has reported.
With a tumultuous 2020 slowly nearing its end, the Ministry of Planning and Investment is engaging in pushing all national administrative agencies to speed up disbursement of capital to support the country’s goal of reaching satisfying economic growth, despite the pandemic’s impacts.
Vietnamese stock markets had a good start on Monday, largely led by gains in financial shares and heavy-weight stocks.
Prime Minister Hun Sen on Monday told US companies and investors that although Covid-19 has slowed the growth of Cambodia’s economy, the government has proactively taken measures to keep business activities afloat and the country remains a good investment destination for US firms.
Domestic capital and corporate earnings-based buying are key to the growth of Vietnamese shares this week amid the shortage of macroeconomic news and prolonged net foreign selling.
Despite a credit slowdown in the first half of 2020, some private commercial banks have still asked the State Bank of Viet Nam (SBV) for a credit growth expansion to prepare for a peak lending season expected at the end of the year.
Goldman Sachs expected exports to be Vietnam’s major driving force for economic recovery.
Vietnam’s installed capacity is set to increase to about 70 gigawatts (GW) by end-2022 (2019: 55GW), led mainly by private players and other government-owned entities.
International trade remedies are used by many countries to protect their domestic industries, especially now production has stalled due to the impacts of COVID-19. With tax incentives from the new-generation free trade agreements (FTAs), including the newly-approved Europe-Viet Nam FTA (EVFTA), the risk of Viet Nam's exports being put under investigation for evasion of trade remedies is forecast to increase.