Economy

Vietnam’s central bank considers interest rates cut to support growth amid virus fears

The State Bank of Vietnam is considering to lower interest rates to support enterprises suffering business slowdown due to coronavirus, Vice Governor Dao Minh was cited in a Government news portal’s posting.

Vietnam posts larger trade surplus despite coronavirus fears

Vietnam recorded a larger trade surplus in the first two months of this year, despite the economy is suffering business slowdown from the coronavirus outbreak, according to customs data released on Wednesday.

Coronavirus could cost Vietnam up to $3.7bln in the worst situation

The ongoing coronavirus outbreak is hurting Vietnam’s economy through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects.

Vietnam’s central bank proposes $12.3bln credit package for virus-hit firms’ ...

The State Bank of Vietnam has announced a credit package worth of VND285 trillion ($12.3 billion) to support local enterprises to recover their businesses amid coronavirus crisis.

Vietnam announces $1.16bln stimulus package to help virus-hit firms

Vietnam plans to spend $1.16 billion to help businesses cope with the coronavirus epidemic and help the economy stick to its 6.8% growth target this year, state media said on Tuesday.

Vietnam’s Feb. CPI falls 0.17% on coronavirus and low purchasing ...

February’s consumer inflation in Vietnam fell 0.17% against the previous month, General Statistics Office said on Saturday, in a sign of weak consumption after Lunar New Year Holiday and coronavirus fears.

FDI inflow to Vietnam falls 23.6% in first two months to $6.47 ...

FDI inflow from newly registered, adjusted, capital contributed to Vietnam in the first two months of 2020 seen to drop 23.6% to $6.47 billion, Ministry of Planning and Investment said.

Agro-forestry-fishery sector runs trade surplus in two months

The agro-forestry-fishery sector recorded a trade surplus of over 1 billion USD in the first two months of 2020, a year-on-year rise of 18.4 percent.

Vietnam’s 2020 GDP growth forecast revised to 6.3% from 6.8% on virus ...

The country’s fast-growing economy is expected to achieve 2020 economic growth at 6.3%, lower than earlier forecast of 6.8% due to the worsening global Covid-19 outbreak, Fitch Solutions said in a report.

South Korean investment in Vietnam grows amid U.S.-China trade war

Samsung Electronics and other South Korean companies are increasing investment in Vietnam against the backdrop of slowing exports resulting from trade friction between the U.S. and China.

Coronavirus urges Vietnam to further reduce reliance on Chinese ...

The on-going coronavirus outbreak reminds that Vietnam’s economy strongly relies on China’s market, especially the export of farm produces.

Vietnam’s exports fall 17.4% amid coronavirus fears

Vietnam reported double-digit decrease on both exports and imports in the first month of 2020 due to the negative affect of coronavirus outbreak, preliminary statistics of the General Department of Customs show.

Vietnam trims 2020 economic growth forecast to around 6% as coronavirus ...

The coronavirus outbreak may cost Vietnam’s full-year economic growth rate by between 0.55-0.84 percentage point in 2020, according to official from Ministry of Planning and Investment during Wednesday government meeting.

EU seen opening up trade to Vietnam, closing door to Cambodia: ...

The European Union is expected to open its markets to Vietnam on Wednesday, while closing its trade doors with Cambodia on labor guarantees and sanctioning the latter for human rights abuses.

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Economy

Vietnam posts trade surplus of nearly $1 billion in first half of March despite pandemic

Vietnam jumps 23 notches in economic freedom index

Vietnam 2020 inflation seen at 4.22% if pork prices can be cut