Non-banking financial companies may be allowed to set up a maximum of three branches in a fiscal year (Photo: antt.vn)
Hanoi (VNA) - Non-banking financial companies (NBFC) may be allowed to set upa maximum of three branches in a fiscal year.
Itwas drafted in a circular released last week by the State Bank of Vietnam (SBV)asking for comment.
Thedraft circular states that NBFCs with operation duration of less than 12 months(from the date of inauguration to the time of proposal) are allowed to set uptwo branches at maximum while the number for NBFCs with operation duration ofmore than 12 months is three in a fiscal year. One branch cannot be managed bymore than three transaction offices.
NBFCincludes general financial companies, factoring companies, consumer lendingcompanies and financial leasing companies.
Toqualify for the opening of domestic branches and transaction offices, NBFC mustcomply strictly with regulations on debt classification and risk provisioningaccording to the SBV’s regulations.
Besidesthis, they are required to meet regulations on the ratio of bad debt to totaloutstanding loans of under 3 percent or as decided by the SBV governor in eachperiod.
Toset up a branch abroad, in addition to meeting conditions as the opening of adomestic branch, NBFC must have a minimum operation duration of three years andtotal assets of over 20 trillion VND (877.19 million USD) according to auditedconsolidated financial statements. They must also make profits for threeconsecutive years before the year of making the proposal.
Underthe draft, the SBV governor has the authority to approve or disapprove theestablishment of NBFC; termination of operation or dissolution of domesticbranches, transaction offices and representative offices; as well as theestablishment of branches and representative offices abroad.
Thegovernor of the SBV may authorise directors or chief inspectors of the bank’sbranches in provinces and cities to approve or disapprove of the establishmentof NBFC; termination of operation or dissolution of branches and transactionoffices at their locations; and the change of the name and location of thebranches’ headquarters or transaction offices.-VNA
The State Bank of Vietnam (SBV) will continue to encourage the practice of mergers and acquisitions (M&A) as a solution to dealing with ailing credit institutions.
Governor of the State Bank of Vietnam (SBV) Le Minh Hung has called for more efforts to reshuffle credit institutions and settle bad debts to enhance the banking system’s safety.
The State Bank of Vietnam (SBV) is drafting a law on supporting credit institutions to restructure and resolve bad debt in an effort to quicken the process.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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.
Non-banking financial companies may be allowed to set up a maximum of three branches in a fiscal year (Photo: antt.vn) 
