Vietnam’s outbound tourists, who still prefer paying in cash, could surpass the number of Thailand's in the next decade, according to a report from the tourism consulting firm Outbox Consulting.
Cyber crime has become complicated in recent years, especially online gambling and football betting, causing an outflow of foreign currencies, Prime Minister Nguyen Xuan Phuc has admitted.
A circular amending and supplementing several provisions of Circular 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign currencies in the territory of Vietnam became effective on May 13.
Capital mobilisation by banks in Ho Chi Minh City exceeded VND2.135 quadrillion (about US$92 billion) as of early July, up 1.69% from the previous month and 13.83% year-on-year, said the municipal Department of Statistics.
The State Bank of Vietnam (SBV)’s net purchase of foreign currencies exceeded US$11 billion in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately US$63.5 billion.
The Vietnam dong’s interest rate on the interbank market exceeded 3% per annum for the first time over the past more than six months.
Over the course of January, the total overseas remittances wired from compatriots to families and relatives living in Vietnam saw a notable increase, especially with Tet Holiday just around the corner.
Exporters will no longer be allowed to borrow bank loans in foreign currencies beginning next year, if the State Bank of Viet Nam (SBV) does not extend a circular regulating the loans.
People are investing their money in five main channels of stocks, gold, foreign currencies, property assets and savings but which of these offered the highest returns in 2016?
Following the continuous decline over the past weeks, inter-bank rates across all tenors hit a record low, staying at below 1% per year.
Business performance at commercial banks is forecast to continue its upwards trend this quarter after making some improvements in the first half of the year, a State Bank of Vietnam (SBV) survey said
Despite the Government’s willingness to enter into free trade agreements, Vietnamese companies are not taking advantage of such pacts to increase exports and are even losing out on their home turf to foreign rivals.
Vietnam’s foreign exchange reserves, exclusive of gold, reached a record high of US$38 billion in mid-June, said State Bank of Vietnam Governor Le Minh Hung.
After March 31 certain enterprises will be not permitted to borrow foreign currencies from banks and then exchange it into VND to buy materials, according to Circular No. 24 from the State Bank of Vietnam (SBV).
Many credit institutions are optimistic about their business this year thanks to a growing economy and the ability of businesses to take loans.
The State Bank’s policies on the dollar have influenced consumers, many of whom are not saving gold to preserve their assets. However, they continue to hold dollars.
The Government has proposed international bond issuance worth US$3 billion, to restructure domestic debts arising during 2015-2016.
Foreign direct investment (FDI) enterprises and foreign investors can now open direct investment capital accounts in Vietnamese dong from September 25, besides accounts in foreign currencies.
There is no need to worry about credit growth in foreign currencies in the first half of this year as the ratio of dollar loans versus mobilisation is within its safe threshold.
(VOV) - Vietnam has a comparative advantage in agriculture production, said deputy minister of Agriculture and Rural Development Le Quoc Doanh at a seminar in Can Tho city on June 24.