Hanoi (VNS/VNA) - Financial leasing reached nearly 40.7 trillion VND (1.6 billion USD) at the end of the first quarter of this year, representing an increase of 8.4% year-on-year, Vietnam Financial Leasing Association (VFLE) said, urging solutions to promote the role of financial leasing in the economy.
The increase comes amid a complicated global landscape, with geopolitical pressures and spiraling trade tensions, but with a robust domestic market with a solid GDP growth of 6.93% in the quarter, supported by strong public investment and a trade surplus of 5 billion USD.
However, the total outstanding lease balance was flat compared to the end of 2024, due to the impact of rising bad debts, the association said.
Financial leasing was sound in several categories, such as for cars, up 26.4% to 8.5 trillion VND, ships up 79.44% and medical equipment up 50%.
Working capital loans expanded by over 40% to 30 billion VND, thanks to regulatory easing.
The association has set the goal of expanding total leasing outstanding to 300-500 trillion VND over the next five years, in line with the Politburo’s Resolution 68 on private sector development, which represents an annual growth rate of 60-70%.
To achieve this goal, the focus should be on increasing long-term financing, especially for small- and medium–sized enterprises (SMEs) in production technology renovation and digital transformation, the association’s General Secretary Pham Xuan Hoe, said.
The focus should also be on green finance with the integration of environment – social – governance (ESG) criteria, he said.
It is necessary to diversify funding sources from banks, international partners, bond issuance to improve lending capacity, he added.
Hoe called for the development of a financial leasing law within the next 3-5 years, to create a solid legal framework for the sector. /.
It is critical to create an enabling environment to promote the development of financial leasing in Vietnam as a channel to supply capital to the economy, according to General Secretary of the Vietnam Financial Leasing Association (VILEA) Pham Xuan Hoe.
Deputy PM Ho Duc Phoc emphasised that the Vietnam Bank for Social Policies must be stable and that the reorganisation of its apparatus must be consistent with the current process in other administrative units.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
