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Official Gazette

Wednesday, August 12, 2020
Tags: loans
Businesses to enjoy higher deduction rate of loan interest expenses Businesses to enjoy higher deduction rate of loan interest expenses
The deduction limit of enterprises’ total loan interest expenses will be increased to 30 percent from the current 20 percent of earnings before interest, tax, depreciation and amortization (EBITDA).
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.
Steering Committee for Vietnam-China Bilateral Cooperation holds 12th meeting Steering Committee for Vietnam-China Bilateral Cooperation holds 12th meeting
Vietnam and China defined major tasks in the time ahead to beef up their comprehensive strategic cooperative partnership in a sustainable way, during the 12th meeting of the Steering Committee for Vietnam-China Bilateral Cooperation held in the form of teleconferencing on July 21.
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.
PM requests stable production activities PM requests stable production activities
Prime Minister Nguyen Xuan Phuc has requested sectors and businesses to make sure production activities continue as normal, despite the outbreak of SARS-CoV-2.
Government determines to substantially improve business environment Government determines to substantially improve business environment
In the coming time, Vietnam’s investment and business environment will be substantially improved in a bid to further raise the country’s competitiveness, according to Government Resolution 02 inked by Prime Minister Nguyen Xuan Phuc on the first day of 2020.
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.
More incentives for supporting industries More incentives for supporting industries
The Ministry of Industry and Trade is working on a draft decree revising Decree 111 of 2015 that is expected to provide more incentives for supporting industry products prioritized for development.

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