Vietnam foreign policy

There are many reasons behind the stabilization of the exchange rate, said a representative of a HCMC major commercial bank, adding that among them is the fact that the hoarding of U.S. dollars has been subdued as other investment options such as gold and securities have become more attractive and the 2020 inflation rate was predicted to stay at just 3.5-3.8%. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES SEPTEMBER 8

Hanoi (VNS/VNA) - Vietnam’s foreign exchange reserve has hit a new record high of 92 billion USD, a significant expansion from 84 billion USD which Governor of the State Bank of Vietnam Le Minh Hung revealed in April. At a recent Government meeting, Prime Minister Nguyen Xuan Phuc said the country’s forex reserve was expected to hit 100 billion USD by the end of this year, five times higher than the level recorded at the beginning of his term. Statistics of the General Department of Customs showed that August saw a trade surplus of 2.5 billion USD and a surplus of 10.93 billion USD in the January-August period, providing a plentiful supply of foreign currencies which enabled the central bank to purchase foreign currencies from the beginning of this year. Financial expert Nguyen Tri Hieu said that high reserves would be an important buffer to help the economy withstand external shocks, which would contribute to stabilising the macroeconomy, strengthening foreign … [Read more...] about Vietnam’s forex reserve sets new record

A person counts U.S. banknotes. Vietnam’s foreign reserves have hit a new record of some US$92 billion and are forecast to reach some US$100 billion at the end of this year - PHOTO: THANH HOA HCMC – Vietnam’s foreign reserves have hit a new record of some US$92 billion and are forecast to reach some US$100 billion at the end of this year, Prime Minister Nguyen Xuan Phuc said at a monthly cabinet meeting early this month. … [Read more...] about Vietnam’s foreign reserves set new record

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has raised its foreign ownership limit to 22.5076 per cent from 22.4951 per cent, according to the Ho Chi Minh Stock Exchange (HoSE). … [Read more...] about Techcombank raises foreign cap to allow foreign employees to buy shares

“Vietnam’s investment environment is big enough to accommodate ambitious investment projects. It is also a great fit for plans on restructuring and supply chain diversification on either a global or regional scale by international investors, specifically Japanese [stakeholders],” the Vietnamese PM stated while informing the reopening of regular international flights to Japan, slated for later this month. … [Read more...] about Japanese enterprises mull over relocation of manufacturing to Vietnam