Welcome to the first edition of Asia Counsel Insights
Our Asia Counsel Insights provide a summary overview of the key trending legal and business issues in Vietnam and how they may impact on your business. Please enjoy your read.
About Asia Counsel
Asia Counsel is a dynamic international corporate and commercial law firm dedicated to serving clients in Vietnam. We are committed to helping clients achieve their business strategies and providing outstanding legal services.
Direction for 2015
The Governor of the State Bank of Vietnam issued a directive setting out SBV’s strategic directions for the economy in 2015. These include:
• Reducing the bad debt ratio to 3% by the end of 2015. Banks must report to the SBV on a monthly basis on how they achieve the target.
• Banks are required to settle 60% of their bad debts by 30 June 2015 and sell at least 75% of their bad debts to VAMC.
• Credit growth will be at 16-18%. Target inflation at 5% and economic growth at 6.2%.
Please click Asia Counsel Insights 8 April 2015 for more information.