The State Bank of Vietnam (SBV) expects new draft regulations on debt purchase and sale of credit institutions will prevent the institutions from hiding bad debts.
Many businesses suggested more detailed policies should be issued to help them access bank loans as there remain difficulties in lending.
The State Bank of Vietnam (SBV) has proposed to issue a separate law on bad debt settlement. The new law would be based on the provisions of Resolution 42/2017/QH14 to ease the work of settling bad debts.
The low interest rate for deposits is part of an effort to lower lending rates for consumers and businesses, who have been struggling during the pandemic.