Economy

Central bank cuts compulsory reserve interest rates to support pandemic-hit economy

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.

Central bank vows to intervene in gold market

The State Bank of Vietnam has said it will have measure to stabilize the domestic gold market as prices kept soaring recent days.

Thai firm to build Asean’s largest wind farm in Laos, sell electricity to Vietnam

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.

Remittances to Vietnam in 2020 could drop 18.1% from 2018 on Covid-19

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.

Vietnam’s 2020 economy could grow 2.8%, world’s fifth fastest-growing: ...

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’s Jan.-July trade surplus widens to $6.5bln from $1.8bln

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.

Vietnam business closures jump 41.5% in Jan.-July period

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.

Jan.-July industrial production grows 2.6%, lowest in years due to ...

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.

Vietnam’s consumer prices up 4.07% in Jan-July

The consumer price index expanded 4.07% year-on-year in the first six months of 2020, according to the General Statistics Office.

Vietnam’s agriculture sector posts $5.2bln trade surplus despite ...

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’s Jan.-Jul. pledged FDI drops 6.9% to $18.82bln

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.

Economists see Vietnam’s 2020 GDP to grow 3.8%

Economic growth could reach 3.8% this year if there is no second COVID-19 outbreak in the second half of the year, according to experts from Vietnam Institute for Economic and Policy Research.

Oxford Economics forecast Vietnam’s GDP to grow 2.3 percent in 2020

Vietnam’s effective containment of COVID-19 allows it to make a quicker rebound than other economies and its GDP growth can be around 2.3 percent this year, Sian Fenner of Oxford Economics said.

Vietnam’s Jan-June trade surplus seen expanding to $5.46bln despite ...

Vietnam estimated a trade surplus of $5.64 billion in first half of 2020 despite COVID-19 pandemic, expanding from $1.59 billion estimated for the same period of 2019, the General Customs Office said.

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Economy

Vietnam’s Jan.-July trade surplus widens to $8.4bln despite virus

Vietnam bags $2bln from fruit and vegetable exports in first seven months

Government gets $9.4bln from State-owned enterprise equitisation