Daily reference exchange rate

Deputy Governor of the State Bank of Vietnam Pham Thanh Ha In the remaining months of 2023, monetary policy management is forecast to continue facing many challenges, as both the world and domestic economies are still experiencing complicated developments. The State Bank of Vietnam (SBV) continues to closely monitor economic and monetary developments at home and abroad in order to proactively and flexibly use monetary policy tools to control inflation and support economic growth. Deputy Governor of the State Bank of Vietnam, Pham Thanh Ha, spoke with the media about the management of monetary policy. How have external difficulties and challenges, as well as within the country, affected monetary policy management in the first five months of the year? What solutions has the central bank implemented to ease the pressure? In the first months of 2023, many countries continued to face the risk of economic recession and high inflation. The trend of monetary tightening is … [Read more...] about SBV encouragse banks to reduce lending interest rates

Fertiliser products of Petro Viet Nam Ca Mau Fertilizer JSC (DCM) being processed. DPM is among the Top 50 prestigious and effective public companies of 2023 (VIX50). — Photo DPM The Top 50 prestigious and effective public companies of 2023 (VIX50), recently announced by the Vietnam Report JSC, has witnessed a significant change compared to 2022 with cautious forecasts. This list in 2023 has seen an amazing change with the spectacular performance of the banking industry. The Vinhomes Joint Stock Company, topping the list in 2022, has been plunged to the bottom of the ranking to make room for the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank). A series of popular enterprises such as Hoa Phat, Masan, The Gioi Di Dong had to leave the Top 10 list to make room for PetroVietnam Fertiliser and Chemicals Corporation (DPM); FPT Joint Stock Company and a series of banks such as Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Military … [Read more...] about Top 50 public companies of 2023 sees major changes

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - The 15th National Assembly's fifth session continued its ninth working day in Hanoi on May 31, under the chair of NA Chairman Vuong Dinh Hue. Moderated by NA Vice Chairman Nguyen Duc Hai, the NA convened a plenary session to discuss the supplementary assessment of the implementation of the socio-economic development plan and State budget for 2022, as well as the performance in the early months of 2023. Read full story - Deputy Prime Minister Tran Hong Ha welcomed Dutch firms and partners to join in the pilot scheme for rooftop solar installation in Vietnam during a reception in Hanoi on May 31 for Dutch Ambassador to Vietnam Kees van Baar. Deputy PM Ha said Vietnam and the Netherlands are strategic partners in climate change adaptation, water management, sustainable agriculture and food security. Read full story VUFO President Ambassador Nguyen Phuong Nga receives … [Read more...] about ☀️ Morning digest June 1

According to recent statistics, foreign direct investment (FDI) disbursement in Vietnam in 2022 reached a record of $22.4 billion, an increase of 13.5 per cent on-year. Peter Ryder - CEO at Indochina Capital Vietnam’s attractive geographical location, ample supply of young and skilled labourers, and a consistent track record of high-performing economic growth have contributed to the country’s success in attracting FDI. Additionally, the Vietnamese government has implemented attractive incentives, making the country a desirable destination for foreign investors. One notable example of FDI in Vietnam’s high-tech sector is Samsung, which has invested heavily in the country. In December 2022, Samsung opened Southeast Asia’s largest research and development centre in Hanoi, with an estimated cost of $220 million. The company also announced plans to increase funding in Vietnam from $18 billion to $20 billion. Moreover, the Samsung Electro-mechanics Vietnam project … [Read more...] about Insights garnered in high-tech FDI

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - Prime Minister Pham Minh Chinh on May 30 visited educational institutions for disadvantaged children in Hanoi on the occasion of International Children’s Day (June 1) and Action Month for Children. At the SOS Hermann Gmeiner School, established in 1994 with its construction funded by the SOS Children’s Village, Chinh presented gifts to the school and its outstanding students. Read full story - A Child Rights and Business Forum was organised in Hanoi on May 30 by UNICEF Vietnam and the Vietnam Chamber of Commerce and Industry (VCCI), emphasising the need for responsible business practices that respect child rights and prevent adverse human rights impacts. Read full story - The national steering committee for green growth should work out specific solutions to realise green growth targets based on the country’s socio-economic conditions, Deputy Prime Minister and head of … [Read more...] about ☀️ Morning digest May 31

How do you assess the potential of the supporting industry in Vietnam? Jun-Ho Lee, deputy director of the Vietnam-Korea Technology Consulting and Solution Centre (VITASK) Vietnam’s supporting industry sector has a large room for growth because the Vietnamese electronics industry has a fairly large position as one of the top 15 largest electronics exporting countries in the world. Besides that, this sector leads in the total import and export turnover of all industries in Vietnam. A report from the Department of Industry under the Ministry of Industry and Trade (MoIT) shows that in 2022, the electronics industry had an export turnover of $114.4 billion, an increase of about 6 per cent on-year, and accounting for over 30 per cent of the total export turnover of the whole country. Among the six groups of goods with export turnover of over $10 billion in Vietnam, there are also computers, mobile phones, electronics, and components. The export market of Vietnam’s … [Read more...] about Enhancing competition capacity of nation’s supporting industries

Hotel supply in Vietnam has tripled over the past decade, photo Le Toan According to a report by DKRA Vietnam, the supply of villas and town houses across the country continued to decrease from the end of the second quarter of 2022. Specifically, in April only two projects were opened for sale, providing 12 apartments to the market, down 69 per cent from the previous month and down 98 per cent compared to the same period last year. Particularly, the Central region recorded the fourth consecutive month that no new projects were introduced to the market. “It is expected that in the next few months, supply and demand may increase slightly. However, the market will not have obvious fluctuations with key transactions, except from expected transactions on Phu Quoc island,” according to DKRA’s report. The primary selling price did not alter greatly compared to the previous month. Instead, investors have aggressively launched discounts up to 30-40 per cent to stimulate market … [Read more...] about Second home real estate on the slow path to recovery