Banks involved in handling poorly-performing credit institutions, reducing lending interest rates to support businesses and individuals, and controlling credit in potentially risky areas have all had their credit growth limits adjusted by the State Bank of Vietnam. According to the World Bank, Vietnam’s credit-to-GDP ratio is among the highest in the world; a warning to the country about the potential risk of macro instability.

Businesses cut the domestic construction steel price by between VND60 ($0.003) and VND810 ($0.03) per kilo on August 22. This is the 15th cut since mid-May.

Construction steel prices were again adjusted downwards on July 22; the tenth cut in just over two months. The Vietnam Steel Association has forecast that prices will continue downwards in the immediate future, because July to September is the wet season and construction works are always affected.