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Tag Archive for ‘Inflation’

Vietnam’s spending deficit sees sharp fall in eight months of 2017

Vietnam’s 2017 spending deficit as of August 15 fell by 63.8% from the same period of 2016, which the National Financial Supervisory Commission (NFSC) attributed to improved revenues from oil and export activities. Official data showed that the government revenues reached almost VND707 trillion (US$ 31.1 billion), up 17%, while spending was estimated at VND747 […]

Vietnam’s eight-month credit growth rate touches 11.5%

Credit growth rate in the first eight months of 2017 has been estimated at 11.5% compared to the end of 2016, the National Financial Supervisory Commission (NFSC) reported. As per the report, this figure is 1.3 percentage points higher than the first eight months of 2016. Short-term loans rose by 14.1%, accounting for 45.9% of […]

Vietnam market to maintain upward trend in September 2017

It’s expected to be a strong September on the local stock market, as investors are maintaining confidence after positive economic data in August and a period of prolonged net buying by foreign traders. The VN-Index on the HCM Stock Exchange increased 2.2 per cent last week, with gains in four out of total five sessions. […]

Vietnam minimum wage hikes seen sending production costs soaring

The forthcoming spikes in the region-based minimum wages are expected to improve workers’ incomes but production costs in labor-intensive industries will certainly pick up. The Ministry of Labor, Invalids and Social Affairs, which is drafting a decree on the region-based minimum wages, proposes a wage increase of 6.5%, or VND180,000-230,000 a month, which would go […]

Vietnam interest rates forecast to inch down in H2 of 2017

Average interest rates will decrease slightly in the second half of this year, market research firm Market Intello forecast. According to the firm, the continuous fall in inflation led the State Bank of Việt Nam (SBV) to decrease interest rates to stimulate credit activities, which led to a decrease in market interest rate. However, the […]

Vietnam Luxury Product Companies Optimistic Amid Low Sales

A street vendor walks past a Chanel store at the Rex Hotel in downtown Ho Chi Minh City Luxury product companies are expanding even as sales contract amid the economic slump, with economists citing the potential of Vietnam’s large young population and the newly rich to fuel more consumption. Notices offering discounts of up to 50 percent on all items can be seen at most shops at Vincom Tower, Parkson or Grand Plaza in Hanoi, where Italian shoes and French perfumes are sold to the urban middle and upper classes. But the stores are vacant save for a few sales people…

Vietnam Putting an End to Dollarization

According to schedule, to 2015 – 2016, deposits and loans in foreign currency will be fully terminated in the Vietnam market. According to the roadmap against the gold and dollarization of the Vietnamese Government, gold influence will be demolished by 2012 and dollarization by 2015. ‘Goldization’ should have ended on November 25 last year, but […]

Vietnam Ministry In Talks For Foreign Loans

The Ministry of Finance is now in talks with foreign creditors over 22 credit agreements, and the amount having been tentatively approved in such loan agreements has reached some US$2.6 billion as of now, the ministry said. In a press statement on Monday, the ministry said that the loans are to replenish capital sources used […]

Vietnams Initial Success In Macroeconomic Stabilization

Vietnam has achieved a degree of macroeconomic stabilization,but ANZ warns the shift to a banking system viable over the long term will still take time and continue to impact growth prospects. * Commercial banks start to loosen purse strings * Bad debts are falling, says central bank * New regulations place restrictions on bank listings […]

Stubborn Lending Rates In Vietnam

Enterprises still want lower lending rates, but banks have little room to manoeuvre because of the need to control inflation…. Based on State Bank figures, the loans lent at the rate of 15 per cent comprise 90 per cent of total outstanding loans until now, and the credit growth in the first 10 months this year is 3.3 per cent against the end of 2011. Although 15 per cent is still a high capital cost for enterprises, some experts claim the State Bank should not loosen the monetary policies further. According to Le Xuan Nghia, former vice chair of the National Financial Supervisory Committee, the pressure…