Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
Banks asked to bring interest rates down
Measures must be taken to bring down bank interest rates, said the State Bank of Vietnam (SBV) at a meeting with CEOs from 26 commercial banks in the country on May 25.
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| Deputy Prime Minister Le Minh Khai at a meeting with governmental agencies and commercial banks in Hanoi on May 24. (Photo: VNA) |
In another directive, the SBV has instructed commercial banks to allow restructuring repayment and maintain debt groups to support borrowers and businesses.
Failure to comply with the directives in a timely manner will result in severe penalties, according to the SBV. Banks were also told to minimise inconveniences and facilitate problem-solving to support customers.
In an earlier meeting with commercial banks and governmental agencies, Deputy Prime Minister Le Minh Khai stressed the importance of continuing with cost-cutting measures, reducing deposit rates, promoting economic development and granting businesses easier access to funds.
"Establishing a reasonable and sustainable deposit rate is crucial to our efforts to adjust lending rates," he said.
Businesses and banks must realise they are in this together. Banks will go well when businesses do well, he added.
He said top priorities for the SBV in the near future include the management of credit growth, interest rates, exchange rates and connectivity in the banking sector. Stronger efforts are also required to improve the sector's transparency, the business environment, the macroeconomy, exchange rates and the stability of the commercial banking system.
Khai urged the SBV, governmental ministries and commercial banks to provide timely information to the public and take additional steps to handle cases of harassment, corruption and group interests./.
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