Association proposes extending resolution on piloting bad debt settlement
The HCM City Real Estate Association (HoREA) recently sent a written petition to the Prime Minister proposing an extension of a resolution on piloting bad debt settlement until the end of 2024.
A view of a residential area in Hanoi. Resolution No. 42/2017/NQ-QH14, which piloted handling of bad debt of credit institutions, is proposed to be extended until December 31, 2024 to create conditions for credit institutions to effectively handle bad debts, including the handling of collateral assets of real estate projects. (Photo vneconomy.vn)
Hanoi (VNA) - The HCM City Real Estate Association(HoREA) recently sent a written petition to the PrimeMinister proposing an extension of a resolution on piloting bad debtsettlement until the end of 2024.
Under the petition, the HoREA requests the Government topropose to the National Assembly (NA) an extension of Resolution No.42/2017/NQ-QH14 on piloting bad debt settlement of creditinstitutions until December 31, 2024 to create conditions for creditinstitutions to effectively manage bad debts, includingthe collaterals of real estate projects.
According to HoREA, the resolution has created conditions forcredit institutions to effectively manage bad debts since 2017, especially thecollaterals of real estate projects, but it expired on December 31, 2023.
The association said the amended Law on Real Estate Businesswill take effect from January 1, 2025, so a legal gap will arise in 2024 whenthe new law has not been applied while Resolution No. 42/2017/NQ-QH14 expired.
"Therefore, HoREA proposes the Governmentcoordinate with the NA Standing Committee to propose the NAconsider an extension of Resolution No. 42/2017/NQ-QH14 for another 12months until December 31, 2024 to create conditions for credit institutions toeffectively manage bad debts, including the collaterals of realestate projects," it said in the petition./.
Having hold of a large amount of bad debts mortgaged by real estate, Vietnam’s four biggest State-owned banks are urgently recovering the debts, but the work remains tough for them due to the slowdown of the realty market.
The banking sector should take more drastic measures to restructure credit institutions in association with the settlement of bad debts to contribute to curbing inflation and stabilising macro-economic factors, according to insiders.
The bad debt ratio of the banking system skyrocketed from 2% at the beginning of this year to 3.56%, or more than 440 trillion VND, at the end of July 2023, according to the latest data from the State Bank of Vietnam (SBV).
The banking sector will continue to face great challenges in 2024, especially those from bad debts when Circular 02/2023/TT-NHNN of the State Bank of Vietnam on credit institutions and foreign bank branches' debt rescheduling and maintaining loan categories to help clients in difficulties expires on June 30, 2024.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
A view of a residential area in Hanoi. Resolution No. 42/2017/NQ-QH14, which piloted handling of bad debt of credit institutions, is proposed to be extended until December 31, 2024 to create conditions for credit institutions to effectively handle bad debts, including the handling of collateral assets of real estate projects. (Photo vneconomy.vn) 
