Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Wednesday, September 23, 2020
Tags: SBV
PM requests economic stimulation inflation control PM requests economic stimulation, inflation control
Prime Minister Nguyen Xuan Phuc has called for the continued study of fiscal and monetary policies to stimulate the country’s economy while ensuring macro-economic stability and inflation control.
Central bank to adjust monetary policies to weather pandemic Central bank to adjust monetary policies to weather pandemic
The State Bank of Vietnam announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.
Central bank to pilot fintech operations Central bank to pilot fintech operations
The State Bank of Vietnam is planning to apply on a pilot basis a regulatory sandbox allowing fintech companies to provide some banking services from 2021.
Vietnam wishes to further promote cashless payment Vietnam wishes to further promote cashless payment
The first “Cashless Day” of Vietnam was held on June 16 with a series of events designed to encourage non-cash payment in the country.
Central bank allows eKYC for online opening of payment accounts Central bank allows eKYC for online opening of payment accounts
Banks may apply an electronic Know-your-Client (eKYC) process to open payment accounts, instead of the traditional face-to-face one.
Draft circular aims at stricter control of corporate bond-related transactions Draft circular aims at stricter control of corporate bond-related transactions
Credit institutions and foreign bank branches with a non-performing loan ratio of over 3 percent would be disallowed to buy corporate bonds, according to a draft circular recently released by the State Bank of Vietnam.
State Bank devises measures to support enterprises during the pandemic State Bank devises measures to support enterprises during the pandemic
In furtherance of Prime Minister Directive 11, SBV on March 13 issued Circular 01 providing a number of measures to support enterprises affected by the COVID-19 pandemic, including debt rescheduling, remission and reduction of loan interests and fees, and maintaining debt groups for borrowers.
Premier directs removal of difficulties for enterprises amid COVID-19 outbreak Premier directs removal of difficulties for enterprises amid COVID-19 outbreak
The Prime Minister has recently requested implementation of solutions to remove difficulties for production and business so as to ensure social welfare and security in response to the COVID-19 pandemic.
Building and improving the legal framework on foreign exchange management Building and improving the legal framework on foreign exchange management
In recent years, especially 2019, the world economy witnessed a series of insecurities. While almost all economies show signs of a slowdown, trade tensions among economic giants, especially the US-China trade war, continued to undergo complicated developments. As a result, the global growth rate in 2019 dropped to the lowest level since the 2008-09 financial crisis. Gold prices spiked and crude oil prices strongly fluctuated, giving rise to risks in the international market and consequently, many countries had to loosen their fiscal and monetary policies.
First-ever regulations on e-money to be issued First-ever regulations on e-money to be issued
The State Bank of Vietnam (SBV) is working on a draft decree to revise Decree 101 of 2012 on non-cash payment, introducing for the first time regulations on e-money.

Video

Vietnam Law & Legal Forum