Vietnam should reduce the level of debt it owes to foreign lenders and increase domestic debt in order to avoid foreign exchange rate-related risks, said the vice chairman of the National Financial Supervisory Committee, Le Xuan Nghia. "In each industry and locality, we need to clearly calculate how much investment we can mobilise from the State budget and other domestic sources, and how much we need to borrow from foreigners," agreed Dang Van Thanh of the National Assembly's Economic and Budget Committee. Thanh also urged the development of a system for better monitoring and evaluating public debt. The nation's foreign debt is overwhelmingly held by the Japanese, making the debt susceptible to foreign exchange rate risks, said Central Institute for Economic Management deputy director Vo Tri Thanh, noting large fluctuating range of the Japanese yen. Japan held nearly 42 percent of Vietnam's total foreign debt at the end of 2009, followed by Singapore at 27 percent. Although … [Read more...] about Foreign debt levels pose risks lúc : Wednesday, July 28, 2010 – 15:24:58
Foreign exchange trading strategies
Due to developments in both domestic and international economic sectors during the first quarter of 2017, the exchange rate is considered the most unpredictable factor influencing the monetary market in 2017, online finance newspaper cafef.vn reported. The exchange rate is considered the most unpredictable factor influencing the monetary market in 2017. According to experts, while the demand for foreign currency seems to increase, the currency supply tends to decrease. This is expected to pressure the exchange rate. Statistics from the General Department of Customs indicated that the country's trade deficit has reached US$1.8 billion from early this year through March 15, 2017, compared with a trade surplus of nearly $1 billion in the same period of 2016. The main reason is the strong increase in the demand for imported machinery and equipment, due to stronger economic growth in 2017. The exchange rate has also been affected by the US Federal Reserve (Fed) interest rate hike. The Fed … [Read more...] about Exchange rate: hard work for VN central bank this year
By the end of August, 2008, Vietnam’s trade deficit hit more than US$15.965 billion, a two-fold increase over the same period last year and equivalent to 36.85 percent of August’s total export turnover. About 85 percent of Vietnam’s imported products such as materials, fuels, machinery and production equipment mostly come from Asian and ASEAN countries. Meanwhile, its main export items are raw minerals and export manufacturing products. The current trade deficit has now affected negatively rather than positively national economic development. Therefore, the focus of the export policy in the following years will be on reducing trade deficit to keep trade balance, said Dr Vu Dinh Anh, Deputy Head of the Research Institute for Science, Market and Price under the Ministry of Finance. Weak competition among domestic businesses According to domestic and foreign economic experts, Vietnam should have an import surplus from developed countries such as the US and the Europe … [Read more...] about Trade deficit keeps rising Weak competition among domestic businesses A paradoxical result of management Is VND likely to depreciate?
Attendees listen to a speech by China's Commerce Minister Gao Hucheng during the opening ceremony of the 2016 G20 Trade Ministers Meeting in Shanghai, China July 9, 2016. Photo: Reuters/Aly Song In the face of a "worrying" rise in protectionism, trade ministers from the world's major economies have agreed to cut trade costs, increase policy coordination and enhance financing, China's Commerce Minister Gao Hucheng said on Sunday. The Group of 20 trade ministers, who wrapped up a two-day meeting in Shanghai on Sunday, approved a broad trade growth strategy aimed at reversing a slowing in global trade, and backed guiding principles for global investment policymaking. "The global recovery continues, but it remains uneven and falls short of our ambition for strong, sustainable and balanced growth. Downside risks and vulnerabilities persist," the ministers said in a joint statement. "We agree that we need to do more to achieve our common objectives for global growth, stability and … [Read more...] about G20 seeks to enhance trade growth in face of protectionism – China
Vietnam and the world will continue to suffer negative impacts of the global financial crisis, economic recession and political upheavals in many countries, said specialists at a recent seminar on "Vietnam Economy in 2011 Prospects for 2012 - Opportunities for Commodity Futures Trading" hosted by the Vietnam Chamber of Commerce and Industry (VCCI). In the opening remarks delivered at the seminar, Dr Vu Tien Loc, VCCI President, underscored the importance of conference in economic analysis, orientation and forecast for 2012 as it would help companies to orient and map out production and business strategies and future commodity trading. He stressed that Vietnam needed to lower inflation to a single-digit rate. The picture of the Vietnamese economy in 2011 was presented by Dr Nguyen Minh Phong, Director of Research and Development Department, the Hanoi Institute for Socioeconomic Development Studies. The Vietnamese economy faced five major shocks: frequent changes in exchange rate … [Read more...] about Opportunities for Commodity Futures Trading