VOV.VN - The nation’s transaction value of economic concentration will be between US$4.5 billion and US$5 billion this year, with this figure likely to reach US$7 billion by next year.

The Government has issued a resolution to create a sandbox for financial technology (fintech) in the country’s banking sector.

Vietnamese consumers expect a seamless banking experience when it comes to opening an account via a mobile app or website, with two in five expecting to answer 10 questions or less or they will abandon the process. One out of six Vietnamese will drop out if asked more than five questions.

The State Bank of Vietnam (SBV) on September 7 issued a circular directing foreign credit institutions and bank branches to reschedule debt payments, waive and reduce borrowing interest and fees, and maintain the groups in order to support customers affected by the COVID-19 pandemic.

The deposit interest rates at major banks has continued to decrease since the beginning week of September.

Telecoms operators still have not cut charges for SMS services in banking, even though the banks have proposed reductions several times.

Vietnam should promote investment to revive its economy and strengthen its ability to respond to new risks despite its success in dealing with a crisis caused by the COVID-19 pandemic.

Vietnam will need to do more if it wants to become a digital powerhouse as envisioned in the socio-economic development strategy adopted by the Party in February 2021, said a report of the World Bank.

Integration with global manufacturing has helped keep Vietnam’s economy humming during the pandemic, according to an article published on news site The Economist on August 30.

VOV.VN - Vietnam’s GDP growth rate is unlikely to achieve the target of between 6% and 6.3% set for this year due to the impact of the fourth wave of COVID-19 infections across the country, according to industry insiders.