Banks ensure fuel firms have access to more credit
The State Bank of Vietnam (SBV) has issued Document No 1509, asking commercial banks to raise credit limits for a number of fuel firms, particularly those who import extra fuel at the request of the Ministry of Industry and Trade (MoIT).
A man refilling a motorbike at a petrol station. Domestic fuel prices have been increasing steadily owing to a volatile world fuel market. (Photo: laodong.vn)
Hanoi (VNS/VNA) - The State Bank of Vietnam (SBV) has issued DocumentNo 1509, asking commercial banks to raise credit limits for a number of fuelfirms, particularly those who import extra fuel at the request of the Ministryof Industry and Trade (MoIT).
Thelist of the firms and the importers can be found on the ministry’s website andin Decision No 242.
SBVsaid that commercial banks evaluate and grant credit extensions to theabove-mentioned firms in accordance with current banking regulations.
Incase issues arise during the evaluation and approval process, they have toreport on the issues to the Governor of the SBV.
Theyare also requested to report each month to the Department of Credit forEconomic Sectors on any credit granted to the firms.
Additionally,they are urged to step up reforms, simplify internal processes anddiversify their banking products to facilitate credit.
Amida volatile world fuel market, the Prime Minister has called on relevantauthorities to look at ways to stabilise domestic fuel supply.
SBVhas issued the document to keep fuel shortages at bay.
Thedocument is expected to ensure sufficient bank loans to fuel firms,allowing them to import extra fuel in a timely manner, thereby keeping thedomestic fuel supply stable./.
The Ministry of Industry and Trade has asked authorities of cities and provinces nationwide to step up checks and monitoring of oil and gas trade as the ongoing ups and downs of the global fuel market are having major impacts on the domestic supply and prices.
Retail petrol prices continued to rise by nearly 3,000 VND (0.13 USD) per litre from 3pm on March 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
The Government has passed a draft resolution on the environmental protection tax rates on gasoline, oil and lubricants, which will be submitted to the the National Assembly Standing Committee for approval on March 14.
In the face of soaring fuel prices, Minister of Industry and Trade Nguyen Hong Dien proposed several measures for stabilising the market in the long run while fielding queries from full-time legislators on March 16.
National Assembly Chairman Vuong Dinh Hue on March 16 suggested the Government set out clear scenarios to ensure energy safety and security, as well as fuel supply and demand in any circumstances.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
A man refilling a motorbike at a petrol station. Domestic fuel prices have been increasing steadily owing to a volatile world fuel market. (Photo: laodong.vn) 
