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Thread: The economy in Vietnam

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    Super Moderator LivinLOS's Avatar
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    The economy in Vietnam

    The economy in Vietnam ? AsiaLIFE Magazine VietnamAsiaLIFE Magazine Vietnam

    Even if competition were on a more level playing field, the anemic economy still makes it difficult for new companies to start. Small business loans are almost non-existent right now, says Vieira of Total Wealth Management. Instead, what little money there is to lend out is going to stalled development projects, like the ones littered around the city. Vieira says the problem lies with the banks.

    “There are far too many banks in Vietnam,” he says. “The only reason they were created was to lend money to the real estate developers, which are actually the owners of the banks. The developers are lending money to themselves.”

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    Very clever maybe there part of the HSBC Bank lol

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    I like it...

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