Vietnamese banks are struggling with slow credit growth as businesses don’t need new capital. The country’s credit growth as of late August was only 5.3%, well below the government’s full-year target of 14%-15%. The slowdown in global demand for goods has impacted the export-reliant economy. Vietnam may miss its 6.5% economic growth target this year. The PM said last month that the government aims to push economic growth to about 9% in H2 2023 to meet the full-year target, following a 4.14% growth in Q2 2023.