Business News

The global growth rate for 2024 is projected at approximately 2.9 per cent, a slight decrease from the 3.1 per cent observed last year. This trend indicates a modest slowdown, yet it’s important to note that the economy remains above the recessionary threshold, typically marked by growth rates below 2 per cent.

Carbon credits, also known as carbon offsets, are permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one tonne of carbon dioxide (CO2) or the equivalent in other greenhouse gases.

Major state lender Vietcombank has just released its 2023 figures, with results across a variety of areas exceeding expectation. The Hanoi-headquartered bank saw $59.5 billion in deposit volume, up over 12 per cent on-year, and outstanding balances amounting to $53.58 billion, showing a 10.6 per cent jump on-year.

The VN-Index reported a positive start to 2024, with six consecutive sessions of gains. The return of banking stocks leading the market’s trend and a surge in liquidity signal significant capital entering the stock market.

The State Bank of Vietnam (SBV), the country’s central bank, has made one-off credit growth quota allocations for commercial banks right at the start of 2024, instead of using the recurring allocation system as seen in previous years.

The experts made the recommendation because, while existing bad debts have not been resolved yet, new bad debts are estimated to surge when Circular 02/2023/TT-NHNN on debt restructuring and debt repayment postponement expires in June 2024.

The Department of Livestock Production has set its sights on achieving a 4-5% increase in production value next year, contributing to around 28-30% of the nation’s overall agricultural output. This target was discussed at a conference held in Hanoi on December 19. Deputy Minister of Agriculture and Rural Development Phung Duc Tien outlined specific objectives for various livestock products in 2024.

There will be little room for further reduction in deposit interest rates in 2024 as they have dropped deeply to pre-COVID-19 levels, while the lending interest rate can still be lowered by 1-1.5 percentage points next year, Vietcombank Securities (VCBS) forecast.