The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.

The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.

Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.

Many banks, especially small- and medium-sized ones, have recently offered high interest rates and promotion programs to compete for mobilization of deposits to meet rising capital demands in the last months of the year.

Moody`s Investors Service has changed its outlook for Vietnam`s banking system to positive for the next 12-18 months from stable, reflecting the country`s strong economic prospects and the positive outlooks for most rated banks.

The issue, supply and use of illegal means of payments including Bitcoin and other crypto currencies might face criminal charge according to Item 1, Article 26 of the Penal Code 2015, which has been amended and supplemented in 2017.

The generation, distribution and use of cryptocurrencies including the bitcoin can face criminal procedure from January 1 next year according to Vietnam’s laws.

Though there remains two months to the year-end many banks have so far met profit targets set for the whole of 2017, financial reports from banks showed.

In the sideline of the Asian Pacific Economic Cooperation (APEC) Financial Meetings, the Deputy Managing Director of the International Monetary Fund (IMF) Mitsuhiro Furusawa has highly regarded Vietnam’s current economic situation and monetary policy management of the State Bank of Vietnam (SBV).

The Vietnam Asset Management Company bought more than VND 25.53 trillion (US$1.12 billion) of non-performing loans (NPLs) from 14 credit institutions.

Adoption of appropriate policies by the State Bank of Việt Nam (SBV) has so far helped it buy a large amount of US dollars to increase the nation’s foreign reserves, industry insiders said.

A tax on an individual’s income from the interest accrued from the savings deposited in banks should be considered carefully to avoid negative impacts, experts said.

The General Department of Customs (GDC) on October 23 signed a co-operation agreement with five commercial banks to implement a 24/7 e-tax payment scheme.

Credit growth of the entire banking system in the past 10 days rose 1.14 per cent, pushing the total increase in the first nine months of this year to 12.16 per cent.

The Ministry of Defence said that only 17 military enterprises will have 100% of State-owned capital while 29 others will be equitised and 20 joint-stock military firms will be divested.

Vietnam’s commercial banks have gained positive performance this year, reporting a surge of up to 39 percent in profits in the past nine months, according to the National Financial Supervisory Commission.

Vietnam is heading toward a cashless economy by 2020 through increasing electronic payment.

Vietnam`s economic growth ahead of China-has been impression in Asia, as neighbors struggle to keep up with its 7.4% pace. However, Vietnam still has a lot of works to be done for sustainable development.

State-owned banks are finding it more difficult to increase charter capital, especially when they still have to pay dividends instead of keeping the money for this purpose.

The financial sector conducted a total of 67,186 inspections in the first nine months of 2017. Deputy chief inspector of the Ministry of Finance (MoF) Tran Huy Truong announced at a press conference held by the ministry in Ha Noi on October 13, discussing the ministry’s financial inspection and supervision work during the first nine months of this year.

A large number of commercial banks have taken the initiative of seeking long-term funds to ensure a more stable capital resource for carrying out long-term business strategies.

A large number of commercial banks have taken the initiative of seeking long-term funds to ensure a more stable capital resource for carrying out long-term business strategies.

The State Bank of Vietnam has issued a plan to develop card payment using card readers at points of sale (POS) and mobile points of sale (mPOS) from 2017 to 2020.