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Banks are inherently fragile, it is therefore unavoidable that banks face turmoil periodically. Patrick Lenain, CEP senior associate, analyses how to limit the global banking stress impacts in Vietnam’s banking system.
The OECD has published a comprehensive study of Vietnam's economic, financial, social and environmental trends for the first-time ever.
Just over a month ago, the global banking system was shocked by the failure of Silicon Valley Bank (SVB) and the ensuing wave of panic, which was disastrous for Signature Bank, a New York City lender. The turbulence soon spread to Europe, where Credit Suisse came to the brink of collapse and was eventually forced to merge with large Swiss bank UBS.
The banking system is bracing for difficulties after the events surrounding Silicon Valley Bank, Credit Suisse, and others. Patrick Lenain, senior associate at the Council on Economic Policies, shared his views on what should Vietnam watch for during this period.
Vietnam is studying and adjusting its investment policies to adapt to the global minimum corporate income tax which is scheduled to be applied from 2024, said Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc.