The State Bank of Vietnam (SBV) will continue directing commercial banks to reduce interest rates for customers affected by the COVID-19 pandemic, said Deputy Governor Dao Minh Tu at the Government’s press conference on August 11. ​

The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 said it will cut lending rates in Vietnam dong for the fifth time.

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has asked the Vietnam Banks Association (VNBA) to campaign lenders to slash interest rates immediately this month.

The Vietnam Association of Financial Investors (VAFI) has proposed gradually lowering the VND deposit interest rate to zero percent.

The Government has issued a new decree aiming to promote the development of social housing.

Though some banks increased their deposit interest rates early this month, it is not a common trend and the rate currently is still at the lowest level it has been in many years.

Poor sales, supply chain disruptions, revenue decreases and personnel cuts have all occurred to enterprises amid the COVID-19 pandemic.

The domestic shipping industry needs support from the State to develop Vietnam’s fleet of cargo ships, according to the Ministry of Transport.

Credit loans must be always available for production and business enterprises, especially those operating in such areas as agriculture, export and high-tech, Prime Minister Nguyen Xuan Phuc said on December 26. ​

The banking industry's credit is projected to have expanded 11% for the year by the end of December, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu revealed at a press conference on December 24.