Sixteen banks cut over 21.2 trillion VND for pandemic-hit customers
Sixteen commercial banks cut over 21.24 trillion VND (936 million USD) of loan interest for COVID-19-hit customers from July 15 to December 31, 2021, surpassing their commitment by 5.13 percent, the State Bank of Vietnam (SBV) reported on February 9.
Hanoi (VNA) – Sixteen commercial banks cut over 21.24 trillion VND (936 million USD) of loan interest for COVID-19-hit customers from July 15 to December 31, 2021, surpassing their commitment by 5.13 percent, the State Bank of Vietnam (SBV) reported on February 9.
The Vietnam Bank for Agriculture and Rural Development (Agribank) made the sharpest reduction with over 5.51 trillion VND for more than 3.5 million customers.
It was followed by the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), with 4.63 trillion VND for 269,644 customers; and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), over 4.12 trillion VND for 452,746 customers.
According to Deputy Governor of the SBV Dao Minh Tu, last year, the bank maintained the regulatory interest rates, creating favourable conditions for credit institutions to access the SBV capital at low costs.
Tu said that the 16 banks, which own 75 percent of the total outstanding loans of the economy, showed strong performance inrealising their commitments to reducing interest rates for pandemic-hit clients.
Earlier, the banks committed to cutting loan interests amounting to 20.6 trillion VND for customers.
Four State-run commercial banks continued to commit a 4-trillion-VND aid package for reducing loan interests and cutting all banking service fees for customers in localities undertaking social distancing in line with the Prime Minister’s Directive No. 16./.
The State Bank of Vietnam (SBV) has urged domestic and branches of foreign credit institutions to offer a cut in loan interest rates for businesses affected by the acute respiratory disease caused by the SARS-CoV-2 (COVID-19) which is taking toll on the regional economies.
Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
Banks in Ho Chi Minh City are focusing on measures to mitigate the difficulties faced by businesses due to the COVID-19 pandemic and help them get back to health, a State Bank of Vietnam official has said.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30 percent.
From now until the end of the year, the State Bank of Vietnam will review and consider revising credit growth targets for credit institutions and priority is expected to be given to those that reduce loan interest rates.
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.
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.
Illustrative image (Source: VNA) 
