The Viet Nam Asset Management Company (VAMC) has cut the applicable
interest rates on euro and US dollar-denominated non-performing loans
(NPLs) purchased from credit institutions.
The State Bank of Viet Nam (SBV)''s Circular 19/2014/TT-NHNN (11 August
2014) guides foreign exchange control of foreign direct investment (FDI)
activities in Viet Nam
Foreign direct investment (FDI) enterprises and foreign investors can now open direct investment capital accounts in Vietnamese dong from September 25, besides accounts in foreign currencies.
Vietnam Asset Management Company (VAMC) will adjust annual interest
rates for purchased bad debts at 10.7, 5.2 and 5.7 per cent for the
Vietnamese dong, US dollar and Euro, respectively.
