Business

Deposit interest rates forecast to hit bottom in Q1 2024

Deposit interest rates forecast to hit bottom in Q1 2024

Deposit interest rates are unlikely to decrease further and might hit bottom in the first quarter of 2024 as credit demand will increase this year, analysts forecast.

Vietnamese economy proceeding as predicted: experts

Vietnam's GDP in the first quarter of 2024 will grow by around 5.5% as predicted, according to experts and thinktanks.

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Thua Thien-Hue economic zone plagued by sluggish pace

Many tourism projects at Chan May-Lang Co Economic Zone in the central province of Thua Thien-Hue have been delayed or remained on paper.

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Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis and Vietnam Development Bank (VDB) Chairman Le Van Hoan today signed a USD500 million Memorandum of Understanding (MOU) to facilitate the financing of US exports to Vietnam.

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More Japan flights from Vietnam

Vietravel Airlines, a subsidiary of tour operator Viettravel, will operate around 10 charter flights linking HCM City and Danang to Japan until the end of April.

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Finnish businesses desire to expand investment cooperation activities in the Vietnamese market across multiple fields, especially the energy sector.

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Wood, furniture firms advised to take advantage of e-commerce

To increase brand recognition and to access more customers, Vietnamese wood, furniture, and handicraft businesses need to consider and invest systematically in online sales activities, diversifying sales channels in their business strategies, an official has said.

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Positive signs ahead for Vietnamese seafood exports to US

Vietnamese seafood exports to the United States during the opening two-month period of the year surged by 22.1% to US$188.5 million against the same period from last year, according to the General Department of Vietnam Customs.

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The latest deposit interest rates at the four major banks have simultaneously decreased to the lowest level in one year.

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Four State-owned banks have further cut deposit interest rates by 0.2-0.3 percentage points to reach around 7 per cent for 12-month deposits.

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The State Bank of Vietnam’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year.

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Minister of Trade and Industry Dang Hoang An and Italian Undersecretary for Foreign Affairs Manlio di Stefano co-chaired the seventh meeting of the Joint Commission on Economic Cooperation, following a two-year hiatus caused by the COVID-19 pandemic.

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Deputy Prime Minister Le Minh Khai has approved the sovereign credit rating improvement project by 2030, part of an effort to make Vietnam a developing and upper-middle-income country with modern industry.

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The State Bank of Vietnam has urged lenders to not relax credit approval conditions but set tighter control on foreign currency lending and granting loans in high-risk sectors.

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