Some allege that hedge funds are holding large amounts of dong for future speculation that could hurt the economy. A teller counts packages of bank notes at a local bank in Ho Chi Minh City. … [Read more...] about Where has all the dong gone?
Which investment has the least liquidity
The word on the street is that Vietnam's stock market is hot, overpriced, a bubble, and all the related naysayer tones. As usual, it is all a question of perspective. If you are an investor with a long-term view - 10 years or more - Vietnam remains a great investment opportunity. Taken in relative terms, you have not missed the boat in seeking investment opportunities in the country, whether through the stock market or otherwise. … [Read more...] about You haven’t missed the boat!
Vietnam is better placed than many may realise, writes Mr Martin Rama, Acting Country Director at the World Bank, but the government still should keep its eye on the ball. There is much speculation and anxiety regarding the impact of the global slowdown on Vietnam, often reflecting (if not amplifying) the seemingly endless string of bad news coming from industrial countries. And it is certain that 2009 will not be a good year. But it may not be as bad as some claim. Vietnam may do better than other developing countries because of the substantial adjustment it went through in response to the overheating of late 2007 and early 2008. Preliminary data for the first quarter of the year tend to confirm this assessment. But holding better than other developing countries should not be a reason for complacency. … [Read more...] about Taking the strain
Dragon Capital has denied that its decision to sell its entire stake in Sacombank was because of rumours regarding the latter's business performance. There has been talk for some time and last month it was confirmed. Dragon Capital has sold its entire 8.17 per cent stake in the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to two foreign investors, marking an end to its ten-year investment in Vietnam's fifth-largest private bank by assets. … [Read more...] about Nothing out of the ordinary
This year, for the first time since "doi moi" was introduced in the late 1980s, Vietnam has had to change its economic growth targets. It was a difficult decision to make but the government finally decided to change its growth targets just weeks before the first session of National Assembly in early May after spending a month canvassing cabinet members. "We will try to record GDP growth of over 7 per cent in 2008," Prime Minister Nguyen Tan Dung said after his first-ever video conference with concerned ministries and localities late last month. "The top priority is to contain inflation and stabilise macroeconomic development." … [Read more...] about Cushioning the fall