Vietnam country currency

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

Amid the Covid-19 pandemic, the global investment flow is likely to contract by 40% in 2020, but in Vietnam, newly registered capital has risen 6.6% and the number of new FDI projects inched up over 22% during the pandemic, Do Nhat Hoang, head of the ministry’s Foreign Investment Agency (FIA), said while addressing a dialogue on FDI attraction held today, September 4. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES SEPTEMBER 8

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

For a while, ODA has played the role of channelling foreign currency mobilisation. However, according to the MPI’s assessment, ODA and concessional loans should only account for 30-50 per cent of a project’s investment and act as a primer or catalyst in addition to other capital sources. As such, Vietnam should prioritise their use in projects that directly promote sustainable growth and are capable of generating foreign currency income in the medium and long term. … [Read more...] about Balancing act required for efficiency of ODA in Vietnam

The rating agency also predicted that Việt Nam’s foreign reserves will increase to some US$66 billion by the end of this year from $49 billion in 2017, while the general government debt is likely to decline to below 50 per cent of the gross domestic product (GDP) by 2019. … [Read more...] about Fitch raises rating for Việt Nam