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Vietnam Central Bank to Inject Capital Into Banking System
Mar. 18 – The Central Bank of Vietnam plans to infuse an additional VND30 trillion into Vietnam’s banking system in order to make further soft loans available for home-buyers. This move hopes to revive the struggling property market and resolve bad debt. The central bank issued a circular late last week in which it clarified that banks will be […]
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Vietnam to Host the 4th ASEAN Traditional Textile Symposium
Mar. 15 – Vietnam will be hosting the 4th ASEAN Traditional Textile Symposium this week from March 15-18 in the province of Thai Nguyen. The event, themed “Traditions, Innovations and Interactions: Paving a Creative Path for Traditional Textiles of Southeast Asia”, expects to bring in more than 200 international and domestic guests, in addition to […]
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Dong Stable as Vietnam Proposes PPP Amendments
Mar. 11 – The Vietnamese Dong will likely remain stable this year thanks to Vietnam’s ample foreign currency reserves and the country’s trade surpluses. Nguyen Van Binh, the chief of the State Bank of Vietnam, has said that Vietnam’s reserves rose by US$18 billion in 2012. In unofficial markets last Wednesday, the Dong traded at […]
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Vietnam, Malaysia Hold Joint Trade Commission
Mar. 8 – The Malaysian International Trade and Industry Ministry (MITI) announced that bilateral trade between Malaysia and Vietnam surged by 25.3 percent to reach US$9.03 billion over the past year. Vietnam’s exports to Malaysia registered US$5.2 billion, while Malaysia exported US$3.83 billion to Vietnam. This news came off the heels of the second meeting […]
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Vietnam Announces Growing Revenues, Analysts Predict Further Growth
Mar. 8 – The General Statistical Office (GSO) announced that total revenues from retail trade and services throughout the first two months of 2013 were estimated at a total of VND422.2 trillion (US$20.59 billion) – 10.9 percent year-on-year gain. In addition, HSBC recently released a report that predicted Vietnam’s GDP to continue to grow in […]
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Vietnam Government Encourages Supporting Industries
By Nguyen Huyen My Mar. 7 – In 2010 and 2011, the Vietnamese Government issued a number of policies to encourage supporting industries, especially those connected to the high-tech sectors (Prime Minister’s Decision No 12/2011/QD-TTg). Supporting industries play a key role in promoting the development of Vietnam’s main industries. Furthermore, the potential to develop Vietnam’s […]
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New Issue of Asia Briefing: Expanding Your China Business to India and Vietnam
In this issue of Asia Briefing Magazine, we discuss why China is no longer the only solution for export-driven businesses, and how the evolution of trade in Asia is determining that locations such as Vietnam and India represent competitive alternatives. With that in mind, we examine the common purposes as well as the pros and cons of the various market entry vehicles available for foreign investors interested in Vietnam and India.
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Vietnam To Open Up Banking System
Feb. 28 – In an attempt to obtain additional capital for its already debt-ridden banking system, Vietnam is further opening the door to foreign ownership of its banks. Via a State Bank of Vietnam circular, the government announced that it has issued a draft decree that would allow the Prime Minister to permit foreigners on […]
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Vietnam To Revamp Its Economy
Feb. 27 – Vietnam has approved a plan to boost its economy by focusing on restructuring public investments, banks and state-owned enterprises (SOEs). Furthermore, in an attempt to generate sustainable growth by 2020, attention will also be placed on strictly controlling inflation. As he signed a 29-page directive that took effect on February 19, Prime […]
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Vietnam’s Trade Surplus Widens Through February
Feb. 27 – The General Statistics Office (GSO) in Hanoi released numbers indicating that Vietnam’s trade surplus widened in February with exports exceeding imports by US$900 million. The GSO also revised January’s trade balance to a surplus of US$776 million. Exports fell to US$7.5 billion in February from US$11.47 billion in January, a drop that […]