Economics
Vietnam Ramps Up Measures to Clean Up Banking Bad Debt
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Vietnam’s central bank is stepping up efforts to resolve soured loans and create favorable conditions for foreign investors as it draws up regulation to auction bad-debt assets of lenders.
The State Bank of Vietnam and the Ministry of Justice are trying to “quickly” complete legislation that will be a “crucial legal basis” for a government-backed asset management company, lenders and investors to buy and sell bad-debt assets and collateral at banks, Governor Nguyen Van Binh said yesterday in e-mailed responses to Bloomberg News.