​Record $52bn in foreign reserves new momentum for Vietnam’s growth: official

The dong’s liquidity should be properly managed to help exchange rate stability In the first 10 months of this year, Vietnam’s macroeconomic and foreign market situation was relatively good. The country reached a trade surplus of US$2.56 billion, while US$14.2 billion in foreign direct investment (FDI) capital flowed in and commercial banks bought about US$2.5 billion from indirect foreign investors.Economists said apart from reducing interest rates to support enterprises, the SBV also did a good job in exchange rate management. The SBV’s performance, which was highly rated by international organizations, has increased foreign and domestic investors’ trust in the dong…... [read more]

The visit of the Vietnamese Party chief takes place from January 12 to 15.In 2015, China’s GDP stood at RMB 67,700 billion or USD 10,800 billion, up by 6.9% from the previous year. China has led the rest of the world in terms of both trade and foreign investment attraction. In 2015, its import-export was valued at USD 3,960 billion and attracted USD 126.3 billion.Over the past time, China has invested significantly in science and technology; as a result, it has attained stunning achievements in the field, particularly aerospace, information technology, new materials, oceanography and military technology.China has also invested…... [read more]

 President Tran Dai Quang addressing the ceremonyThe APEC Year 2017, especially the25th APEC Economic Leaders’ Meeting in the central coastal city of Da Nang in November, has been successful in all aspects,turning Vietnaminto a center of the global attention, the President said. The participation of leaders fromAPEC member economies along with over 11,000 delegates, businesspeople andreporters at home and abroad illustrated the special attention of the regionand the world to Vietnamand APEC in general, he said. Leaders of APEC member economieshighly appreciated the role of Vietnamin leading and creating a new momentum for the regional shared future of peace,stability and…... [read more]

HA NOI  (VNS)— Viet Nam's foreign reserves have surged to US$23 billion, equivalent to 11.5 weeks of imports, according to a member of a research team from the Bank for Investment and Develop-ment of Viet Nam (BIDV). The State Bank of Viet Nam has been buying up foreign currency each month since the beginning of the year, even soaking up over $600 million last month after the arrests of two leading figures in the banking industry sent shockwaves through local markets. On August 23, the State Bank lifted nearly all remaining policy barriers to encourage the selling of foreign currencies…... [read more]

Highest-ever foreign reserves help stabilize money marketThe Saigon Times Daily HCMC – Vietnam’s foreign exchange reserves have shot up to an all-time high of US$45 billion, which will facilitate the central bank’s effort to stabilize the money market and thereby the economy. A Government report, delivered by Prime Minister Nguyen Xuan Phuc on the first day of the National Assembly session in Hanoi on Monday, said the State Bank of Vietnam (SBV) had bought an additional US$6 billion since the end of last year, taking the total to US$45 billion. In his closing remarks at the sixth plenum of the…... [read more]

The State Bank of Vietnam (SBV) purchased more than $100 million in the past two days, capitalizing on a slight strengthening of the Vietnamese dong. The U.S. dollar/Vietnamese dong exchange rate hit VND22,300 per dollar earlier this week. Following the central bank's aggressive purchase, the dong edged slightly downward. The dong's daily mid-point rate against the U.S. dollar, which the central bank adopted earlier this year, dropped 0.14 percent from its 22,000 level last week. During a recent cabinet meeting, SBV Governor Le Minh Hung said current reserves exceed the record high of $40 billion and represent enough funds to…... [read more]

The State Bank of Vietnam (SBV) will work with Government members todiscuss the possibility of disclosing national foreign exchangereserves, SBV Governor Nguyen Van Giau told the Asian Development Bank's44th Annual Meeting of the Board of Governors in Hanoi this week.Although Giau admitted that publishing information regarding a bank'sactivities was a normal practice in many other countries, disclosingsuch information in Vietnam would be a different story. Such procedures not only involved the State Bank of Vietnam , butalso the Ministry of Industry and Trade as well as the Prime Minister,Giau said. According to the March 2011 ADB DevelopmentOutlook , Vietnam held…... [read more]

With the desire of turning APEC into a beacon of openness, inclusivity and innovation, members of the APEC Business Advisory Council (ABAC) gathered in Toronto, Ontario, Canada in late July 2017 to discuss and send recommendations to APEC economies on business priorities in the region. At this third meeting session, ABAC appreciated the positive effects of the rules-based world trading system and open markets. As a result, livelihoods of people in APEC member economies have been significantly improved. At the meeting, ABAC agreed that “Our long-term vision of a more open and integrated APEC region is not an end in…... [read more]

NDO - Vietnam’s foreign reserves continued to increase in the first half of 2017, reaching over US$42 billion, according to Governor of the State Bank of Vietnam Le Minh Hung.He told a conference on July 21 that the central bank purchased an additional US$1 billion in the last six months.Compared with the end of 2016, the US$1 billion rise was low but encouraging especially as trade deficit is returning, estimated at US$2.7 billion in the first half of the year.Governor Le Minh Hung also stated that in the first six months, the market had good forex liquidity and the USD-VND…... [read more]

The State Bank of Vietnam (SBV) purchased more than US$100 million in the past two days, capitalizing on a slight strengthening of the Vietnamese dong.The US dollar/Vietnamese dong exchange rate hit VND22,300 per dollar earlier this week. Following the central bank's aggressive purchase, the dong edged slightly downward.The dong's daily mid-point rate against the US dollar, which the central bank adopted earlier this year, dropped 0.14% from its 22,000 level last week.During a recent cabinet meeting, SBV Governor Le Minh Hung said current reserves exceed the record high of US$40 billion and represent enough funds to cover three months of imports. He estimated…... [read more]




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