As the government looks to push for public investment and the central bank keeps a low interest rate environment to aid economic growth, banks are expected to be the first beneficiaries from an economic rebound.

The Central bank has lowered its interest rate cap three times by a combined of 1.5-2 percentage points per annum, which is the largest cut in the region.

The central bank has taken both monetary and fiscal policies all together to ensure macro and social stability.

The grant will incentivize participating banks in Vietnam to restructure existing loans or extend new loans to at least 500 women-led small and medium-sized enterprises.

As of the end of the third quarter, Vietnam has around 93.78 million bank cards in circulation, in which the majority are magnetic cards.

A devaluation of the Vietnamese dong will disrupt and cause severe consequences to the local economy, said an expert.

Vietnam said it maintains dialogues and consultation with the US to handle problems for mutual interest.

Vietnam gives priority to a stable and sustainable trade-economic relation with the US, and will continue to work towards a harmonious and fair-trade relations under the bilateral action plan, stated the country’s central bank.

Investments in forex trading platforms, seen as illegal, would not be protected by law, said a senior official of the central bank.