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VIETNAM: 20% Cap on Lending Rates Set to be Abolished

The 20% cap on lending rates for banks and other credit agencies in Vietnam is to be abolished as of 15 March. In line with a directive from the country’s central bank, lenders will now be free to agree on rates with borrowers on an ad hoc basis.

Borrowing in five specific sectors - agriculture and rural development, SMEs, export-oriented businesses, high-tech, and support industries - will, however, continue to be capped. The move is designed to bring the country’s lending activities in line with international best practice.

Content provided by Picture: HKTDC Research
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