Advertisements Trade war between the US and China have escalated, causing concerns about a negative impact on the world economy. Professor Tran Ngoc Tho from the University of Economics Ho Chi Minh City discusses how Vietnam is likely to be affected and how the country can take advantage of opportunities from the movements of goodsContinue reading “What opportunities is the US–China trade war likely to bring for Vietnam?”
Category Archives: Finance
Vietnam government not permitted to receive direct foreign loans
Advertisements A new decree by the Vietnam Government prohibits local governments from directly borrowing from international lenders, or to guarantee the borrowing of organizations and individuals, along with the issuance of bonds. Under Decree 93/2018/ND-CP on management of debts of local governments, local governments can receive loans to finance their overspending with projects in medium-termContinue reading “Vietnam government not permitted to receive direct foreign loans”
Shares rise for four consecutive sessions
Advertisements Shares rose for the fourth consecutive session on Tuesday with an improvement of liquidity, largely on the strength of a handful of banking and individual blue-chips. The benchmark VN-Index on the HCM Stock Exchange was up 1.12 per cent to close at 921.27 points. It gained 3.1 per cent during the past four sessions.Continue reading “Shares rise for four consecutive sessions”
Central bank intervenes to check currency fall
Advertisements The dong showed signs of stability on Wednesday, rising slightly against the dollar as the State Bank of Vietnam intervened to increase foreign currency supply. Local currency exchangers were selling a U.S. dollar for VND23,300 at 1 p.m. Wednesday, down VND50 from the peak of VND23,350 of last week. Their purchase price was VND23,230.Continue reading “Central bank intervenes to check currency fall”
Standard Chartered revises up Vietnam’s 2018 growth forecast to 7 percent
Advertisements Standard Chartered Bank expects Vietnam’s rapid growth of 7 percent year-on-year in 2018, higher than its previous forecast of 6.8 percent, with all domestic engines firing together. Manufacturing and construction are likely to remain the fastest-growing sectors The forecast is highlighted in the bank’s recently published Global Focus report for the third quarter ofContinue reading “Standard Chartered revises up Vietnam’s 2018 growth forecast to 7 percent”
Vietnam’s stock market falls victim to U.S.-China trade war
Advertisements Vietnam’s smoking hot economy and raging stock market have become Asia’s earliest casualties in U.S. President Donald Trump’s trade war with China, as the export-reliant nation counts both among its top trading partners. The Vietnamese stock market, Asia’s top performer with 48 percent gains in 2017, is down by 25 percent from its recordContinue reading “Vietnam’s stock market falls victim to U.S.-China trade war”
Techcombank shows Vietnam’s valuation gap
Advertisements It had the right strategy, the right management and the right customers, so why couldn’t Techcombank and its advisers get the right price on its recent IPO? The listing of Techcombank in June was one of the most closely watched events in Vietnam’s recent history. It seemed to show the whole country taking aContinue reading “Techcombank shows Vietnam’s valuation gap”
Many foreign banks expand operations in Vietnam
Advertisements Many foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector. According to a report on Vietnam News, Malaysian’s Public Bank Vietnam Ltd last week received the State Bank of Vietnam (SBV)’s approval to open newContinue reading “Many foreign banks expand operations in Vietnam”
VIB issues bonds to raise capital ahead of Basel II
Advertisements Vietnam International Bank plans to mobilize VND4.5 trillion ($200 million) in Tier 2 capital in 2018 by issuing inconvertible bonds. According to a report by VNexpress, this was announced by the creditor in a document sent to shareholders for a vote last week. The document says the issuance is aimed to help the bankContinue reading “VIB issues bonds to raise capital ahead of Basel II”
US-China trade war’s impact on Vietnam: economist
Advertisements Vietnam’s trade activities still have not been affected significantly by the recent trade tension between the US and China because taxed goods are mostly certain types of high-technology products. However, the indirect impact in the long term could be significant, according to Nguyen Anh Duong from the Central Institute of Economic Management (CIEM), whoContinue reading “US-China trade war’s impact on Vietnam: economist”
Banks refuse to buy US dollars from central bank
Advertisements A senior official of the State Bank of Vietnam (SBV) on July 4 told Thoi Bao Kinh Te Vietnam that commercial banks had not registered to buy dollars at preferential prices from SBV On July 2, amid fluctuations of the dollar, SBV stated that it would intervene in the market by selling foreign currenciesContinue reading “Banks refuse to buy US dollars from central bank”
How will Vietnam deal with a 10-year crisis cycle?
Advertisements Vietnam will have solutions to restrict the effects of any future global economic downturn, according to General Statistics Office’s director Nguyen Bich Lam – Vietnamnet reports. At a press conference on June 29, Duong Manh Hung from GSO warned that both the world and Vietnam will not break out of the economic recession cycle,Continue reading “How will Vietnam deal with a 10-year crisis cycle?”
Stock Turmoil hits Eight-Year High of Angst Rises in Vietnam
Advertisements Anyone investing in Vietnam’s stock market these days must have solid nerves. After slumping 26 percent from its April record, the nation’s VN Index has seen its volatility surge to levels not witnessed in more than eight years. The gauge, which was Asia Pacific’s best performer just months ago, has now erased all ofContinue reading “Stock Turmoil hits Eight-Year High of Angst Rises in Vietnam”
European businesses optimistic about Vietnam’s business environment
Advertisements European firms continue to be optimistic about the business environment in Viet Nam and expect that the EU-Viet Nam Free Trade Agreement will soon come into effect – Dtinews reports. The information was released in the European Chamber of Commerce in Viet Nam (EuroCham Viet Nam)’s latest Business Climate Index (BCI) in the secondContinue reading “European businesses optimistic about Vietnam’s business environment”
Vietnam to raise reference exchange rate
Advertisements State Bank of Vietnam on Wednesday adjusted up its reference exchange rate between Vietnamese dong and U.S. dollar by 7 Vietnamese dong to 22,647 Vietnamese dong per U.S. dollar. With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,326 Vietnamese dong per U.S. dollar, and the floorContinue reading “Vietnam to raise reference exchange rate”