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Hanoi & HCMC’s budget revenues exceed estimates
Banking & Finance

Hanoi & HCMC’s budget revenues exceed estimates

Budget collections in Hanoi and Ho Chi Minh City stood at nearly VND266 trillion ($11.7 billion) and over VND381 trillion ($16.8 billion) during 2021, exceeding estimates by more than VND30 trillion ($1.32 billion) and nearly VND17 trillion ($748.5 million), respectively. In order to fulfill State budget and financial tasks this year, the two cities will continue promoting the reform of administrative procedures, improving the business environment, and creating favorable conditions for the stable development of businesses.
Banking & Finance

Bad debts may rise during 2022

The debt restructuring period will only last until June 30, after which the actual bad debts of banks will be revealed and may increase sharply. The State Bank of Vietnam (SBV) is currently developing a legal framework on asset quality and bad debt handling in order to tighten asset quality management at banks and speed up the bad debt settlement process.
Hanoi & HCMC’s budget revenues exceed estimates

Hanoi & HCMC’s budget revenues exceed estimates

Budget collections in Hanoi and Ho Chi Minh City stood at nearly VND266 trillion ($11.7 billion) and over VND381 trillion ($16.8 billion) during 2021, exceeding estimates by more than VND30 trillion ($1.32 billion) and nearly VND17 trillion ($748.5 million), respectively. In order to fulfill State budget and financial tasks this year, the two cities will continue promoting the reform of administrative procedures, improving the business environment, and creating favorable conditions for the stable development of businesses.
Bank deposit rates heading upwards

Bank deposit rates heading upwards

Concerned about liquidity risks, many banks have raised their savings interest rates. The Bao Viet Securities Company (BVSC) forecasts that it will be difficult to reduce rates this year and they are likely to rise slightly again, especially in the second half.
Concern over use of recovery package

Concern over use of recovery package

The economic recovery package of VND350 trillion ($15.35 billion) will have some remarkable effects, quickly resolving bottlenecks in infrastructure investment, supporting employers to pay salaries, and funding preferential loans for students and the poor. However, some economists are concerned that money may flow into speculation or not be used for production purposes.
Vietnam needs effective foreign loan disbursement and management

Vietnam needs effective foreign loan disbursement and management

Vietnam was highly evaluated in 2021 by three credit rating agencies and the country signed 12 loan agreements totaling nearly $1 billion. However, facing slow disbursement of foreign capital, Deputy Minister of Finance Tran Xuan Ha suggested it is necessary to remove obstacles in disbursement and loan management.
Bad debts may rise during 2022

Bad debts may rise during 2022

The debt restructuring period will only last until June 30, after which the actual bad debts of banks will be revealed and may increase sharply. The State Bank of Vietnam (SBV) is currently developing a legal framework on asset quality and bad debt handling in order to tighten asset quality management at banks and speed up the bad debt settlement process.
Foreign investors unlikely to be net buyers on stock market in 2022

Foreign investors unlikely to be net buyers on stock market in 2022

According to the KB Securities Vietnam Joint Stock Company (KBSV), it is unlikely that foreign investors will be net buyers again in 2022 as some net selling factors are in place, especially in the context of developed countries gradually tightening monetary policy under inflationary pressure.

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