Vietnam’s central bank net withdrew over VND30 trillion from the market last week as the banking system saw surplus liquidity due to slow credit growth.

The State Bank of Vietnam (SBV) has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.

Vietnamese Ambassador to Italy Duong Hai Hung has held working sessions with leaders of credit group CDP, Simest credit institution of CDP, credit and insurance group SACE and the General Confederation of Italian Industry (Confindustria) of Italy as part of the embassy's economic diplomacy activities of in 2023.

Although significant challenges remain for the economic and investment environment in Vietnam, there are still opportunities for investors to increase profits through investment channels if they know how to restructure their portfolio, experts have said.

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

The banking industry will continue to face difficulties in 2023 in the context of the real estate market downtrend and the less positive import and export outlook, analysts forecast.

VOV.VN - Ho Chi Minh City received approximately US$6.8 billion in remittances last year, marking only a slight decrease compared to 2021 and accounting for 48% of foreign currency deposits at its credit institutions.

Prime Minister Pham Minh Chinh on December 28 tasked the banking sector with ensuring monetary security and safety, as well as legitimate rights and interests of people, businesses and relevant subjects in 2023 and the following years.

Credit growth reached about 13% this year as of December 27, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu told a press conference in Hanoi on tasks for the banking sector next year.

Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022.