The State Bank of Viet Nam (SBV) on Thursday announced its decision to cut the interest rate it pays on commercial banks' reserves by 0.2-0.5 percentage points as part of its efforts to help the economy weather the impact of the COVID-19 pandemic. … [Read more...] about VN central bank cuts reserve interest rate to aid the economy
Vietnamese economy
Vietnamese consumers became the most avid savers globally
“Government lockdowns to contain the COVID-19 pandemic started a domino effect, with businesses, especially hotels, bars and restaurants closing down temporarily or permanently and consumer spending dropping due to fewer spending opportunities,” Louise Hawley, managing director of Nielsen Vietnam, said. … [Read more...] about Vietnamese consumers became the most avid savers globally
Vietnamese consumers become the most avid savers globally
“Government lockdowns to contain the COVID-19 pandemic started a domino effect, with businesses, especially hotels, bars and restaurants closing down temporarily or permanently and consumer spending dropping due to fewer spending opportunities,” Louise Hawley, managing director of Nielsen Vietnam, said. … [Read more...] about Vietnamese consumers become the most avid savers globally
Central bank cuts reserve interest rate to aid the economy
The State Bank of Viet Nam (SBV) on Thursday announced its decision to cut the interest rate it pays on commercial banks' reserves by 0.2-0.5 percentage points as part of its efforts to help the economy weather the impact of the COVID-19 pandemic. … [Read more...] about Central bank cuts reserve interest rate to aid the economy
EVFTA offers new prospects to European economies
Hanoi (VNA) – The EU–Vietnam Free Trade Agreement (EVFTA), which came into effect on August 1, not only opens up opportunities to spur Vietnam's economy but also offers new prospects to European economies at a time of global financial uncertainties, according to the German press agency DPA. In a recent article, the agency quoted Vietnamese Prime Minister Nguyen Xuan Phuc as saying that the deal "opens up opportunities" to boost Vietnam's economy. In an opening speech at a video conference to optimise the deal, PM Phuc urged authorities to ensure international labour standards are met and measures are taken to protect the environment. He also expressed hope that the agreement will ensure Vietnam's products meet European standards and increase jobs. Jean-Jacques Bouflet, Vice Chairman of the European Chamber of Commerce in Vietnam, was also cited as saying that in a recent survey, 74 percent of European business leaders said the EVFTA will have a positive impact. … [Read more...] about EVFTA offers new prospects to European economies
