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 "Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

"Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19

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 "Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19 Empty "Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19

Post by Ssmith on Sat Jan 26, 2019 10:03 am


TIM » January 25th, 2019

gm Samson, Thank you so much for keeping us updated on Vietnam as well as our IQD news. Vietnam is going to be in the same basket. The economy and reserves are too strong for them not to be once again

Samson » January 25th, 2019

Vietnam named in top 60 innovative economies


Việt Nam has been named among the 60 most innovative economies in the world by the 2019 Bloomberg Innovation Index.

South Korea continues to stand in first place, followed by Germany.

A number of other emerging economies appeared in Bloomberg’s rankings for the first time, including the United Arab Emirates, India, Mexico and Saudi Arabia.

Việt Nam’s total score was 45.92 points, compared with 87.38 points for South Korea.

Việt Nam had the lowest score of 34 points in high-tech density and the highest score of 59 points in productivity criteria.

In Southeast Asia, Singapore (6), Malaysia (26) and Thailand (40) all featured in the rankings.

The annual Bloomberg Innovation Index, in its seventh year, analyses dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

The 2019 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn’t report data for at least six categories were eliminated, trimming the total list to 95. Bloomberg publishes the top 60 economies. LINK

Vietnam : IZs, EZs attract $8.3 billion in 2018

Industrial zones (IZs) and economic zones (EZs) operating in the country lured more than US$8.3 billion in investment in 2018, a report from the Ministry of Planning and Investment’s Department of Economic Zone Management revealed.

Of the sum, $5.3 billion came from 560 newly-licensed projects while the remainder was contributed by 500 existing projects raising their levels of capital.

The latest addition had brought the investment registered in these zones as of last year up to $187 billion, with VNĐ970 trillion ($41.6 billion) from 7,500 domestically-invested projects and more than $145 billion from 8,000 foreign-invested ones.

The occupancy rate of operational IZs across the nation hit 73 per cent in 2018, according to the report. As of the end of 2018, the country had 17 coastal EZs established on a total land and water area of over 845,000ha. In addition, plans have been outlined to build the Nhân Cơ EZ in the northern province of Nam Định.

Currently, there are 326 IZs across 63 cities and provinces, 250 of which are operational. The rest are under construction or awaiting land clearance. More than 87 per cent of the active IZs had their own waste water disposal plants with a capacity of 950,000 cubic metres per day.

In an effort to improve efficiency of IZs and processing zones, the Department of Economic Zone Management will complete a legal framework to lure more domestic and foreign investments, ensuring that they fit local potential and socio-economic development orientation.

Amendments should be made to ensure clearer and more transparent investment procedures, the department said, adding that prudent assessment is a must to choosing quality projects which make contributions to the State budget, improving the quality of human resources, and protecting the environment. The department will study and propose that competent authorities build and issue a law on industrial parks. Under Decree No 82/2018/NĐ-CP on regulating the management of IZs and EZs in Việt Nam, projects focusing on the infrastructure development of IZs in areas with difficult socio-economic conditions will get capital support from the central budget.

As per the decree which came into effect in July, 2018, the provincial people’s committees will also support investors through local budgets in the development of technical infrastructure systems inside and outside the IZs and arrange other sources of capital for the construction of IZs’ infrastructure. Large-scale infrastructure investment projects, which are important for the development of EZs, can mobilise capital by issuing bonds in accordance with the provisions of law. LINK

State Bank of Vietnam building currency reserves

25th November, 2019

By the end of last year, the country’s forex reserves reached $63.5 billion

The State Bank of Việt Nam (SBV) has so far this year bought more than US$1 billion from commercial banks to build up the nation’s foreign currency reserves.

The latest report from Saigon Securities Co’s Retail Research cited SBV Governor Lê Minh Hưng as saying that the central bank could purchase another $1-2 billion in the next few weeks thanks to the available US dollar supply in the domestic market.

Besides increasing the country’s forex reserves, the purchase also helps increase the Vietnamese đồng supply source in the local market, which supports the liquidity of commercial banks.

By the end of last year, the country’s foreign reserves had built up to and remained at a relatively high level of $63.5 billion, helping the central bank stabilise the foreign exchange rate.

Analysts from the Military Bank Securities Company (MBS) expect that the central bank is capable of managing the foreign exchange rate to keep it within the margin of safety in 2019, given the country’s abundant dollar supply and stable macro-economic balance.

Besides, the MBS analysts said, SBV’s current zero per cent interest rate on dollar deposits encourages dollar holders to exchange their money to đồng to get higher interest, helping the central bank manage the forex market. The gap between interest rates of the đồng and the dollar remained high. The rate for dollar deposits is zero per cent while the rate for the đồng is 7-8.5 per cent per year so dollar holders will still make less than if they deposit đồng at local banks.

In addition, MBS says the dollar likely reached its peak in 2018 and will inch down in 2019. The US Federal Reserve (Fed) will likely only raise interest rates once in 2019 instead of the four times it did so in 2018.

The reduction, together with the country’s trade surplus of $7.2 billion last year, would help reduce pressure on the exchange rate in the domestic market this year, MBS analysts said. They anticipate SBV will depreciate the đồng against the dollar slightly by some 1.5-2 per cent this year to support the Government’s targets of increasing exports and stabilising macro-economic indicators.

Besides helping build up the nation’s foreign currency reserves, the SBV’s dollar purchase has so far this year also contributed to lowering interest rate of đồng loans in the inter-bank market sharply over the past few weeks. The overnight rate slid to 3.93 per cent per year on January 17 from 5 per cent on the last working day of 2018.

Interest rates for đồng deposits with terms of less than one year listed at commercial banks have been kept stable while the rates for 12-13 month deposits have inched up to 6.8-8.0 per cent per year, depending on the bank.

SSI analysts forecast interest rates for đồng deposits would remain unchanged from now until the Lunar New Year, which falls on February 5, given the stable liquidity of commercial banks. LINK

Prospects look good for Vietnam’s economy in 2019

18th January, 2019

Representatives discuss Việt Nam’s economic prospects in 2019

Việt Nam has experienced a year of socio-economic achievements. For example, economic growth continues at a high level; the macroeconomic environment remains stable; inflation is under control; the trade surplus is at record levels; and the State budget deficit is stable.

The statement was made by Nguyễn Đình Cung, director of the Central Institute for Economic Management (CIEM), at a conference held in Hà Nội on Thursday.

“More importantly, the macroeconomic foundation continues to be strengthened, the balance of monetary and fiscal governance is maintained even in the context of external shocks and cyclical growth risks. Therefore, Việt Nam still has favourable conditions to conduct fundamental reforms to economic institutions as well as its business environment," Cung said.

According to CIEM’s report, in 2019, Việt Nam’s GDP growth is forecast at 6.93 per cent, export growth is estimated at 9.4 per cent, trade surplus at US$2.04 billion and the average consumer price is expected to increase about 3.88 per cent.

The report also analyses the effects of the fourth industrial revolution and the country’s readiness to participate in the revolution. As a result, it concludes that Việt Nam will see great benefits from participating in Industry 4.0.

Participation in the fourth industrial revolution will determine the pace of economic restructuring, while transforming the growth model to achieve higher productivity, better competitiveness and greater levels of prosperity, said Nguyễn Anh Dương, from CIEM’s Macroeconomic Policy Department.

In addition to improving the business environment in accordance with international practices and developing sectors with comparative advantages, Việt Nam should focus on improving technology, innovation and quality of human resources as well as the quality of public services, Dương suggested.

The confidence of the domestic and foreign business community continues to increase after the Government’s commitment to reform as well as the ability of the Government to respond effectively to external shocks. New free trade agreements (CPTPP, EVFTA, RCEP) can create additional impetus for reform and access to resources (skills, technology, capital) from the outside.

According to CIEM’s director, Việt Nam should continue to handle the fundamental challenge of institutional quality, infrastructure and human resources. Strategic competition between the US and China continues, forcing Việt Nam to consider more carefully its participation in initiatives involving these two countries. Economic, trade and investment activities may face a number of uncertainties, especially in the first half of 2019, due to the risk of economic decline in many key economies.

Cung also emphasises that policy should continue to focus on improving microeconomic foundations and innovating economic institutions in the direction of being more friendly to the environment, and effectively handling risks in a volatile international economic environment. The event was organised by CIEM in cooperation with the Australian-funded programme Aus4Reform. LINK

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 "Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19 Empty Re: "Vietnam" - Fri. AM KTFA Thoughts/News 1/25/19

Post by Kevind53 on Sat Jan 26, 2019 11:38 pm

No basket, so I would not worry too much ... how long will people keep listening tot the same old BS?

Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

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