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Tag Archive for ‘VND’

Vietnamese University Plans to Accept Bitcoin Despite Central Bank Ban

FPT, a private Vietnamese university is planning to accept tuition fees in bitcoin with a workaround of the central bank’s ban on using cryptocurrencies as payment instruments. FPT University is a private academic institution with campuses in Ho Chi Minh City, Hanoi and Da Nang, Vietnam’s three major cities. The university will soon begin accepting […]

Vietnam Bans Bitcoin as Payment Method; Adopters Face USD$9,000 Penalty

Vietnam’s central bank has ruled that cryptocurrencies like bitcoin are prohibited as a method of payment in the country. The State Bank of Vietnam (SBV), Vietnam’s central bank, has completed developing a legal framework for cryptocurrencies in the country following orders by Vietnamese Prime Minister Nguyen Xuan Phuc earlier this year. In a newly released […]

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 reference exchange rate down by VND15, 6th Sept 2017

The State Bank of Vietnam offered its reference VND/USD exchange rate at VND22,434/USD on September 6, down by VND15 from the day ago. With the current +/- 3% VND/USD trading band, the ceiling exchange rate is VND23,107 per USD and the floor rate is VND21,761 per USD. Major commercial banks also kept their rates quite […]

Ho Chi Minh City’s economy on steady growth track

Ho Chi Minh City’s economy continued its steady growth in the first eight months this year, said the municipal authorities during a working session reviewing the city’s performance in the period on September 5. Speaking at the event, Director of the municipal Department of Planning and Investment Su Ngoc Anh said the total retail value […]

Vinacomin mines 24.58 million tonnes of coal in 8 months of 2017

The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced 24.58 million tonnes of coal in the first eight months of the year, accounting for 68.3 percent of the annual plan. Of the total output, 21.38 million tonnes were consumed domestically while 866,000 tonnes were exported, raking in over 35.3 trillion VND (1.55 billion […]

Vietnam, Laos foster agriculture and forestry cooperation

An annual meeting on the Vietnam – Laos cooperation in agriculture and forestry was held in Hanoi, on September 5, under the chair of Vietnam’s Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong and Lao Ministry of Agriculture and Forestry Liane Thykeo. At the event, the two sides evaluated the outcomes of the […]

Vietnam, Laos sign cooperation deal in agriculture, forestry for 2017-18

The agriculture ministers of Vietnam and Laos signed a cooperation agreement on agriculture, forestry, fisheries, and rural development in 2017-2018 at a meeting in Hanoi on September 5. Vietnam’s Minister of Agriculture and Rural Development Nguyen Xuan Cuong and Laos’ Minister for Agriculture and Forestry Liane Thykeo co-chaired the annual event on bilateral agro-forestry-fisheries ties. […]

Vietnam’s August 2017 retail sales in huge surge

Vietnam’s total revenue from retail sales and services reached 2.58 quadrillion VND (114.7 billion USD) in the first eight months of this year, a year on year increase of 10.3 percent, reported the General Statistics Office (GSO). The figure amounted to an 8.9 percent increase, excluding the price factor, the highest rise recorded since the […]

VND reference exchange rate drops on August 29, 2017

The State Bank of Vietnam set the daily reference VND/USD exchange rate on August 29 at VND22,438 per USD, down VND5 from the previous day. With the current trading band of +/-3%, the ceiling rate applied for commercial banks during the day is VND23,111 and the floor rate VND21,765 per USD. The opening hour rates […]