The State Bank of Vietnam has said it will have measure to stabilize the domestic gold market as prices kept soaring recent days.
Vietnam’s plan to privatize state-owned enterprises has fallen further behind schedule partly due to the Covid-19 pandemic that has been taking tolls on economies, Ministry of Finance said.
Vietnam’s export is set to grow 5% annually between 2021-2025 to reach $340 billion in 2025, according to the Ministry of Industry and Trade’s plan on socio-economic development for the period.
Vietnam posted a trade surplus of $8.4 billion in the first seven month of this year, much higher than $1.8 billion surplus in the same period of 2019, according to customs data.
- Covid-19 pandemic hits Vietnam’s State-Owned Enterprises privatization plans 1
- Vietnam's export set to hit $340 billion in 2025 2
- Vietnam’s Jan.-July trade surplus widens to $8.4bln despite virus 3
- Vietnam bags $2bln from fruit and vegetable exports in first seven months 4
- Government gets $9.4bln from State-owned enterprise equitisation 5
- Central bank cuts compulsory reserve interest rates to support pandemic-hit economy 6
Vietnam earned nearly $2 billion from fruit and vegetable exports in the first seven months, down 12.3% from a year ago, according to the Ministry of Agriculture and Rural Development.
Between 2016 and June 2020, equitisation of State-owned enterprises and State capital divestment brought $9.4 billion, reported the steering committee for enterprise reform and development.
The State Bank of Vietnam announced late Thursday it has lowered rates on compulsory reserves at banks by 0.2-0.5 percentage points to back the economy devastated by the Covid-19 pandemic.
BCPG, a renewable energy arm of Thailand’s Bangchak Corporation plans to build Southeast Asia’s largest wind farm in Laos and sell its electricity to Vietnam.
When source economies have been devastated by the impacts of COVID-19 pandemic, global remittances in 2020 are expected to drop $108,6 billion while Vietnam’s remittance is projected to fall 18.1% against 2018.
Being hurt by coronavirus pandemic, Vietnam’s economy could expand 2.8 percent in 2020 and 6.8 percent in 2021, World Bank said in the latest report.
Vietnam reported a trade surplus of $6.5 billion during the first seven months of this year, larger than $1.8 billion surplus of the same period in 2019, said the General Statistics Office.
Some 32,700 businesses ceased operations in the first seven months of this year, a 41.5% percent year-on-year increase, according to data from General Statistic Office.
The index of industrial production witnessed a modest increase of 2.6 percent in the first seven months of 2020, the lowest level in several years, according to the General Statistics Office.
The consumer price index expanded 4.07% year-on-year in the first six months of 2020, according to the General Statistics Office.
Agriculture sector reported $5.2 billion trade surplus in Jan.-June period though export value fell 2.8% from a year earlier, according to the Ministry of Agriculture and Rural Development.
Vietnam received $18.82 billion in FDI in the first seven months of 2020, down 6.9% from a year ago, according to data released by Ministry of Planning and Investment on Monday.