The foreign exchange market is still vulnerable to latent exogenous risks, especially crisis risks arising from emerging markets, said the Vietnam Institute for Economic and Policy Research (VEPR).
USD exchange at a Vietnamese commercial bank (Photo: VNA)
Hanoi (VNA) ဣ– The foreign exchange market is still vulnerable to latent exogenous risks, especially crisis risks arising from emerging markets, said the Vietnam Institute for Economic and Policy Research (VEPR).
Under an annual report released by VEPR on May 10, t he US Federal Reserve's decision to increase its interest rate will make the US dollar stronger, placing pressures on the domestic foreign exchange rate.
Assessing the forex rate policy in recent time, economic experts said the State Bank of Vietnam (SBV)’s application of the central rate for the Vietnam dong against the US dollar helps stablise the exchange rate during the last five months.
However, they also noted that there are great pressures on the exchange rate as the US dollar is forecast to continue strengthening thanks to the US’s economic recovery and FED’s plan to lift its interest rate, and China’s decision to renovate its exchange rate policy.
According to the report, Vietnam’s economy saw satisfactory signals, especially in the last two years, as investment flows to the country are on the rise after the Trans-Pacific Partnership (TPP) Agreement was officially signed.
Strong growth of the industrial production and the recovery of real estate market are attributed to the recovery, the report said, noting that the tendency is forecast to remain during the year.
Economic experts also mentioned the weakness of the banking system - the foundation of the national economy, saying bad debts are creating potential risks for the system.
VEPR Director Nguyen Duc Thanh voiced that Vietnam finds it difficult to realise its set growth target in 2016 and eventually cannot exceed the existing growth rate of 6.5 percent.
The country is likely to cope with a higher inflation rate due to the loosened monetary policy and the adjustment of goods and public service prices, he added.-VNA
The margin limit for exchange rates remains at +/-3, Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong told a press conference in Hanoi on January 4.
The central bank's new exchange rate management policy has helped reduce the US dollar speculation in the domestic economy, an official said at an online discussion.
Though experts forecast a rise in lending interest rates in 2016, a central bank official believes it is feasible to keep the rates stable and reducing it slightly this year.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
USD exchange at a Vietnamese commercial bank (Photo: VNA)
