Total assets of credit institutions and foreign banks in Việt Nam by the end of the first quarter of this year inched down to VNĐ12.48 quadrillion (US$521.76 billion) compared with the end of last year.

Enterprises, especially small and medium-sized ones and start-ups, need to enhance financial transparency and connect with banks if they want to obtain loans, according to experts.

Experts have forecast that credit demand will increase faster in the coming months as production and business activities in the country return to a normal pace

Credit institutions in Việt Nam settled more than VNĐ26.94 trillion (US$1.17 billion) of non-performing loans (NPLs) in the first quarter of this year.

The State Bank of Việt Nam (SBV) has given a non-interest loan of VNĐ16 trillion to employers to pay salaries for workers, who have stopped working due to the impact of COVID-19 pandemic.

Commercial banks cut interest rates on VNĐ980 trillion (US$42.6 billion) of loans to support 318,000 COVID-19 affected individual and corporate borrowers by the end of April, the latest data from the State Bank of Việt Nam (SBV) showed.

The Việt Nam Association of Foreign Investment Enterprises (VAFIE) has proposed the Government to encourage development of casino business and gambling activities in hotels and resorts for attacting more foreign tourists.

Vietnam cut its policy rates for a second time in two months on Wednesday as it seeks to boost growth amid the coronavirus pandemic.

Vietnam could fall behind other Asian countries in attracting multinationals shifting production out of China because of supporting industry inadequacies, experts say.

Banks in Bắc Ninh Province are offering reduced interest rate loans to businesses to help them during the COVID-19 pandemic.