International institutions agree that Vietnam’s economy is recovering strongly while seeing a bright outlook for its continued growth.
The decline of the Chinese economy will have a negative impact on Vietnam, but the impacts will be insignificant in the short term. Vietnam’s import/export activities will suffer the most, according to a Ministry of Planning and Investment’s report.
The Vietnamese economy is steadily recovering, but growth remains below the country’s real potential. Keeping a flexible monetary policy will help the economy grow sustainably. Eugenia Fabon Victorino, economist of ANZ in the ASEAN and Pacific, shares her views with VIR.
(VOV) - Vietnam banks have been in a restructuring mode lately as part of their attempt to get the banking system in shape for the Association of Southeast Asian Nations (ASEAN) economic integration at the end of the year, say leading industry analysts.
(VOV) - The ANZ-Roy Morgan Vietnam Consumer Confidence index (CCI) rose 1.6pts to 135.3pts in September, and is 0.3pts higher than a year ago.
The ANZ-Roy Morgan Vietnam Consumer Confidence Index slid 4.9 points to 133.7 in August over July, caused by weaker sentiment across all components in a monthly survey.
Crude oil futures dipped on August 26 on fears of a hard landing for China's economy despite central bank moves to bolster stumbling growth and concerns about a supply glut.
Some international institutions have predicted that the dong will depreciate by 5% this year, while economists have urged the government to devalue the currency by more than 10%.
(VOV) - The State Bank of Vietnam (SBV) raised its USD/VND reference rate by 1% to 21,890/USD on August 19, the third adjustment to-date this year.
The State Bank of Vietnam will not weaken the dong by more than 2 per cent this year to protect national interests, Deputy Governor Nguyen Thi Hong has said.
(VOV) - Vietnam Consumer Confidence is up 2.9 to 143.1pts in June – a new record high, according to ANZ-Roy Morgan.
The Ministry of Planning and Investment recently urged the prime minister and the State Bank to allow Singapore-based United Overseas Bank to become the seventh wholly foreign-owned bank in Vietnam.
The Vietnam consumer confidence index is unchanged at 140.2 in May, well above its long-term average of 135.2, according to research by the ANZ Bank.
The central bank’s recent move to devaluate the Vietnamese dong is expected to shore up Vietnam’s exports while curbing its imports.
Vietnam’s trade deficit is inevitable in Vietnam for 2015 and 2016 but the coming deterioration in the country’s trade balance is assessed as ‘good’, said ANZ Bank.
ANZ has forecast an annual GDP growth of 6.5 % for Vietnam in 2015 and 2016, with the bank's economic experts saying the actual result may be even better when taking into account the notable achievements of the first quarter.
Vietnam’s economy has bottomed out and is now showing signs of recovery with stable foreign direct investment (FDI) capital and increased trade surpluses, said ANZ Chief Economist for South Asia, the ASEAN & Pacific Glenn Maguire.
(VOV) - ANZ Bank forecast that Vietnam’s GDP growth to 6.5% year on year for both 2015 and 2016 (from 6.2% and 6.4% respectively).
ANZ Bank predicted that the Year of the Goat could well be an auspicious year for household consumption in Vietnam after consumer confidence has grown this month.
HSBC and ANZ gave positive reviews on the State Bank of Vietnam (SBV)’s decision to raise the VND/USD daily reference rate by 1% starting from January 7.