Vietnam’s macroeconomy in 2020 is forecast to face somewhat more challenges of growth and inflation than in 2019. However, basically, the overall picture will not have many hues different from last year.
VOV.VN -Two Chinese citizens have been arrested at the Km15-Ben tau Dan Tien checkpoint in the border city of Mong Cai for illegally transporting Chinese Yuan into Vietnam on May 27, according to Nguyen Huy Dong, head of the checkpoint.
The sharp appreciation of the US dollar after the news about the US election and the fall of the Chinese yuan to a 6-year low could create risks for Vietnam’s economy.
With a double dose of the Federal Reserve’s possible rate hikes combined with the Chinese yuan’s 1.5% retreat in May, there is concern it could trigger the dong’s further devaluation and have an unkind impact on the local economy as a whole.
VOV.VN - In 2015, the Vietnam trade deficit with China hit an all-time record high of US$32.3 billion and the effect on the nation’s economy has not been beneficial, says the Ministry of Industry and Trade (MoIT).
(VOV) - Vietnam’s banking sector has pursued a flexible monetary policy, helping to drop interest rates and increase credit to an appropriate level.
The recent inclusion of the Chinese yuan (CNY) to the reserve currency basket of the International Monetary Fund (IMF) will not have any significant impacts on Vietnam’s economy, experts said, adding that it takes at least six months or even a year to see any impacts.
(VOV) - The Vietnam Financial Officers Association (VCFO) has unveiled that 300 leading international finance professionals will gather in Ho Chi Minh City on November 24 to discuss strategies to cope with the threat of a global 'Currency War'.
Singapore and China on October 13 agreed to new initiatives to further promote the international use of Chinese yuan through Singapore.
(VOV) - Chinese President Xi Jinping’s official visit to the US has drawn positive comments as well as skepticism about the likelihood of any breakthrough.
The Vietnamese economy is projected to continue recovery in the four remaining months of the year, bolstered by Government efforts to maintain macro-economic stability against fluctuations in the world markets.
Businesses and analysts have questioned the State Bank of Vietnam’s (SBV) statement that it would not devalue the dong any further until the end of 2015.
Importers of electronics products are weighing spiking prices weeks after the devaluation of the Vietnam dong against the US dollar, which is claimed to have pushed up the prices of imports denominated in the dollar.
The government of Vietnam has said that the national economy has not been hurt by the Chinese yuan devaluation but analysts are less optimistic.
The forex market has begun to stabilize as the central bank has, once again, pledged that it would not devalue the dong any further for the rest of the year.
(VOV) - The biggest 3-day devaluation of Chinese yuan since the establishment of the modern forex system in 1994 has shocked regional and global financial markets.
(VOV) - Foreign Minister Pham Binh Minh on July 16 extended sympathy to his Chinese counterpart Wang Yi over the recent floods and landslides in Sichuan and some southern provinces of China that caused great human and material losses.