With low-interest rates on savings deposits reducing the financial income of insurance companies they are increasingly focusing on investing in stocks such as PVI, PGI, PTI, BIC, and BMI.
According to FiinPro, gold and USD are no longer the prioritized investment channels for Vietnamese youngsters. Their money is primarily flowing into the stock market and is likely to remain there until next year.
The State needs to guarantee credit to help businesses access new capital sources, according to the Asian Development Bank (ADB), because many businesses require loans but do not meet conditions.
Once the pandemic is brought under control, credit demand will increase and it is likely that the State Bank of Vietnam will provide more credit space to commercial banks.
Bank debts restructured since January 23, 2020 now stand at some VND520 trillion ($22.9 billion). The State Bank of Vietnam (SBV) will continue to ask banks to reduce interest rates to help businesses overcome the difficulties from the pandemic.
The Ho Chi Minh City Tax Department has launched an electronic transaction portal - HCMTax - for the completion of tax obligations and procedures amid Covid-19.