Finance companies finding it difficult to attract foreign capitalVietNamNet Bridge - Experts say the legal framework for consumer financing is still not open enough, creating difficulties in attracting foreign capital. Deputy CEO of Ernst & Young Nguyen Thuy Duong said the high consumer credit growth rate in recent years has attracted many regional investors. However, the legal framework is believed to be the major obstacle that makes finance companies find it difficult to lure foreign investors. After the restructuring of the credit institution system in 2011-2015, many finance companies were reshuffled through M&As, which drove the consumer finance sector to healthy development. According to the Credit Information Center (CIC), consumer credit has grown by 36 percent compared with early 2017.

Source: VietNamNet News August 21, 2018 05:15 UTC