The latest move from the Fed marked eight consecutive rate hikes since March 2022, with no signs that it has reached the peak of its hike journey. Assoc. Prof. Dr. Dinh Trong Thinh, a financial expert from the Vietnam Association of Financial Advisers, predicted that a rate hike of 25 percentage points was anticipated. Thinh stated that, in general, the pressure on the USD/VND exchange rate from the Fed’s interest rate hike is not significant. Pressure on to support new economic growth, photo Le Toan Dr. Le Dang Doanh, former head of the Central Institute for Economic Management, also believes that the Fed’s interest rate rise is targeted to contain inflation in the US, since inflation has begun to fall from the previous year’s low level. The USD price will adjust as a result. “A change in the price will influence the exchange rate between it and VND, impacting import-export businesses and foreign-invested enterprises,” said Doanh. On the other hand, deposit interest … [Read more...] about Pressure on to support new economic growth
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$8 billion to be pumped into Vietnam’s Central Coast
Seven international partners will support the investment in infrastructure, transport, urban development, and climate response. Nearly US$8 billion will be pumped into Vietnam's Central Coast region to support the socio-economic development of the region towards sustainability and climate adaptation. An overview of the signing and awarding ceremony. Photo: Trung Nhan/The Hanoi Times The value was announced at a signing ceremony held on February 5 between the Ministry of Planning and Investment and international partners. Accordingly, the local authorities granted investment certificates and approved investment policies and investment cooperation for domestic and international investors. Among the investment deals, seven development partners are committed to providing a total capital of more than US$1.7 billion in 45 projects. The partners included the Asian Development Bank (ADB), the French Development Agency (AFD), the International Fund for Agricultural … [Read more...] about $8 billion to be pumped into Vietnam’s Central Coast
☕ Afternoon briefing on February 6
Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6
Biggest spring blood donation festival kicks off
People join the Xuan Hong (Red Spring) Festival – the biggest annual blood donation campaign of the season staring on February 6. (Photo: VNA) Hanoi (VNA) – The National Institute of Hematology and Blood Transfusion (NIHBT) and Hanoi Youth Association for Blood Donation on February 6 kicked off the Xuan Hong (Red Spring) Festival – the biggest annual blood donation campaign of the season. The one-week event themed “Donating blood in spring, multiplying happiness” expects to receive about 8,000 blood units. Donors can visit one of the seven venues in Hanoi, including the institute, Agricultural General Hospital, No26 Luong Ngoc Quyen in Hoan Kiem district, No10, Hamlet 122, Lang Street in Dong Da district, No78 Ngueyn Truong To in Ba Dinh district and No132 Quan Nhan district in Thanh Xuan district and People's Committee headquarter of Trau Quy Town in Gia Lam district. NIHBT Director Nguyen Thanh Ha said that this year, thanks to the community's efforts, preparations for … [Read more...] about Biggest spring blood donation festival kicks off
Training course opened for Party Central Committee’s alternate members
Participants at the opening of the course (Photo: VNA) Hanoi (VNA) – The Ho Chi Minh National Academy of Politics (HCMA) and the Party Central Committee’s Organisation Commission on February 5 opened a training course to update knowledge for alternate members of the 13th Party Central Committee. Addressing the opening ceremony, permanent member of the Party Central Committee’s Secretariat Vo Van Thuong underlined the significance of the Party’s personnel training work. The 6-week course will focus on 29 topics covering such contents as those associated with the documents of the 13th National Party Congress and the 13th Party Central Committee’s meetings regarding the Party and State building, the promotion of socio-economic, cultural and human development as well as security, defence, external relations, and leadership and management science in the new situation. Permanent member of the Party Central Committee’s Secretariat Vo Van Thuong addresses the opening of the course … [Read more...] about Training course opened for Party Central Committee’s alternate members