Vietnam Firms Borrow US$1.5B Overseas in H1: SBV Official
Vietnamese companies borrowed US$1.5 billion from abroad in the first six months, according to a senior official from the State Bank of Vietnam, the central bank.
Phi Dang Minh, deputy head of the SBV’s Department for Foreign Exchange said that the Vietnamese firms are state-owned and private companies and that the SBV is keeping a close watch on their foreign loans to ensure their security.
The foreign loans prove that local firms need more cash for their operations amid the current economic downturn, Minh emphasized.
Minh also added that local firms borrow between US$2 billion and US$3 billion each year.
In the first half, Vietnam licensed 40,000 new companies, rising 14 per cent from a year earlier with a combined registered capital of VND170 trillion. (Youth)
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