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Official Gazette

Saturday, December 7, 2019
Tags: bad debt
Collateral foreclosure under resolution on pilot settlement of non-performing loans Collateral foreclosure under resolution on pilot settlement of non-performing loans
Since the National Assembly’s Resolution 42/2017/QH14 on the pilot settlement of bad debts of credit institutions was adopted on June 21, 2017, the bad debt settlement, particularly collateral foreclosure[1], by credit institutions and foreign bank branches in the country has seen some improvements. Aimed at addressing inadequacies of the precedent regulations on disposal of collaterals of bad debts, this Resolution itself contains some ambiguous points that need to be clarified.
Government makes strides in reducing business conditions Government makes strides in reducing business conditions
The first half of 2018 saw great efforts of the Vietnamese Government in realizing its commitments to building market economy institutions in the country, especially removing legal hurdles for businesses. There have emerged some positive, significant “institutional reform” trends which are highlighted below.
Ministry proposes five criteria to assess state-owned credit institutions Ministry proposes five criteria to assess state-owned credit institutions
Wholly state-owned credit institutions and those in which the State holds over 50 percent of charter capital would be subject to assessment, according to a draft circular recently revealed by the Ministry of Finance.
Party to focus on socialist-oriented market economy Party to focus on socialist-oriented market economy
The Communist Party of Vietnam Central Committee opened its fifth plenary meeting of the 12th tenure in Hanoi on May 5.
VN issues restructuring action program VN issues restructuring action program
The Government has issued an action program to implement the policies on economic restructuring and building of a new growth model for the period between 2016 and 2020.
Party Central Committee convenes fourth plenum Party Central Committee convenes fourth plenum
The fourth plenary meeting of the 12th Party Central Committee opened in Hanoi on October 9, with socio-economic situation in 2016 and plans for 2017 high on the agenda.
SBV directs monetary policies for 2016 SBV directs monetary policies for 2016
The State Bank of Vietnam on February 23 issued Directive No. 01/CT-NHNN, urging credit institutions and foreign bank branches to properly administer monetary policies and banking operations in 2016.
Delegates applaud draft documents at ongoing National Party Congress Delegates applaud draft documents at ongoing National Party Congress
Delegates appreciated political reports presented at the ongoing 12th National Party Congress, saying they had been prepared thoroughly and gathered together the opinions of Party members nationwide.
New circular on sale of bank loans: an overview (Practical note) New circular on sale of bank loans: an overview (Practical note)
On July 17, 2015, the State Bank of Vietnam (the SBV) released Circular No. 09/2015/TT-NHNN regulating debt purchase and sale by credit institutions and foreign bank branches (Circular 09), with effect from September 1, 2015. This Circular replaces Decision No. 59/2006/QD-NHNN of the SBV Governor dated December 21, 2006.
Public debt below safety limit: PM Public debt below safety limit: PM
Prime Minister has affirmed that public debt remained below the safety limit of 65 percent of GDP, and predicted it would reach 64.9 percent by 2016 before sinking to 60.2 percent by 2020.

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