23 August 2023
In the context that the Vietnam economy is still facing many difficulties, on 23 August 2023, the State Bank of Vietnam (SBV) issued Circular No. 10/2023/TT-NHNN suspending some lending clauses of Circular No. 06/2023/TT-NHNN of the SBV dated 28 June 2023 (“Circular 06”) to increase the access to bank loans for corporate & SME clients in Vietnam.
Circular 10 will come into effect on 1 September 2023.
06 Jul 2023
On 28 June 2023, the State Bank of Vietnam (SBV) issued Circular No. 06/2023/TT-NHNN amending several provisions of Circular No. 39/2016/TT-NHNN of the SBV dated 30 December 2016 (“Circular 39”) on lending activities of onshore credit institutions and foreign bank branches (local banks) to customers (“Circular 06”).
Circular 06 will come into effect on 1 September 2023.
30 June 2023
On June 30, 2023, the Governor of the State Bank issued Circular 08/2023/TT-NHNN stipulating conditions for foreign loans not guaranteed by the Government.
7 September 2022
The State Bank of Vietnam (SBV) on September 7 raised credit growth quotas for several banks, paving the way for these lenders to make new loans for clients.
Four banks with State stakes, including Vietcombank and Agribank, and some joint-stock banks are given higher credit growth limits, meaning they can accelerate lending in the rest of the year.
6 September 2022
The upgrade to Ba2 reflects the assessment by Moody’s that Vietnam’s economy has growing strengths and greater resilience to external macroeconomic shocks that are indicative of improved policy effectiveness.
Moody’s expects the situation would continue as the economy benefits from supply chain reconfiguration, export diversification and continued inbound investment in manufacturing.
The rating also reflects a sounder fiscal footing backed by contained borrowing costs, a conservative approach to fiscal policy and improved government liquidity, driven by the ongoing transition from external concessional borrowing toward longer-dated, low-cost domestic market financing.
21 June 2022
28 May 2022
Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
27 May 2022
S&P Global Ratings on Wednesday upgraded its long-term credit rating on Vietnam to BB+ with a stable outlook on the back of its strong economic recovery and improved government institutional settings.
This upgrade will help local corporates to raise funding cheaper and easier.
23 May 2022
Deputy Prime Minister Le Minh Khai of Vietnam met a number of executives of international organisations and businesses on the sidelines of the ongoing 52nd World Economic Forum in Switzerland to promote connectivity between the government and businesses.
G7 members at their meeting in March 2022 agreed to include Vietnam on its priority list of energy cooperation thanks to the country’s strength in renewable energy.
10 May 2022
Some major businesses of Denmark and Norway have expressed their special interest in developing offshore wind power in Vietnam during recent meetings with officials of the Ministry of Industry and Trade (MoIT).
3 May 2022
The draft National Power Development Plan for the 2021 – 2030 period with a vision to 2045 (PDP VIII) clarifies the roadmap to cut down coal-fueled power and increase renewable energy sources, especially wind and gas power, offering a good chance for offshore wind power to thrive, according to experts.
29 April 2022
Vietnam Briefing discusses the draft of the Power Development Plan which incorporates more renewable energy and reduces dependency on coal.
16 April 2022
The latest draft National Power Development Plan for the 2021 – 2030 period, with a vision to 2045 (PDP VIII) has made drastic reduction of CO2 emissions with no new coal-fired power plants to be built in the planning period, and with the switch from coal and natural gas to biomass, ammonia, and hydrogen, according to Deputy Minister of Industry and Trade Dang Hoang An.
2 January 2022
The draft Power Development Planning (PDP) VIII has demonstrated the trend of developing clean and renewable energies in line with commitments to cutting carbon emissions at the 26th United Nations Climate Change Conference.
1 November 2021
Investors and developers are exploring Vietnam offshore wind projects as the country executes plans to increase energy capacity using renewable energy sources.
29 March 2021
On 22 March 2021, T&T Energy (Phuoc Huu Duyen Hai 1 Wind Power JSC), a member of T&T Group, started constructing the project. The factory has power of 30MW, using fifteen 2-MW wind turbines of Envision. IPC Group was selected to be general EPC constructor.
13 March 2021
On 22 February 2021, the Ministry of Industry and Trade of Vietnam (MOIT) released the draft proposal for the national power development plan for the period of 2021-2030, with a vision to 2045 (“Draft PDP8”) for public comments. This is the third version of the draft, which the MOIT prepared and updated in February 2021. The draft proposal includes an 843-page main explanatory report, with an addition of 174 pages of appendices.
8 March 2021
Vietnam Briefing highlights the recent boom in Vietnam’s solar industry and the future trajectory of solar energy development in the country.
5 October 2020
Vietnam Coal – Minerals Industry Group (Vinacomin) signed a credit contract on loan syndication worth 1,150 billion dong with Keb Hana Bank (Hanoi branch) in Hanoi.
25 December 2019
Nexif Energy just announced the successful closing of a share purchase transaction with shareholders of Song Giang Hydropower JSC where Nexif Energy has acquired 94% of the equity.