Vietnamplus

The third Vietnam Coffee Day will run in Pleiku City, the Central Highlands province of Gia Lai from December 8 – 10, with coffee-drinking culture in focus.

Remittances to Ho Chi Minh City are expected to reach some 5.3 billion USD in 2019, a year-on-year surge of 9 percent, despite unfavourable global financial and monetary market, according to Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City branch Nguyen Hoang Minh.

A seminar, themed “ASEAN’s Economic Powerhouse amid Strategic Power Balance and Diversity”, took place at the University of Economics in Prague on December 3.

Vietnam’s foreign trade is forecast to hit 500 billion USD at the end of 2019, according to the General Statistics Office of Vietnam.

The Consumer Price Index (CPI) of November increased by 0.96 percent compared to last month, the highest growth for November’s CPI in the last nine years.

Mobile phones and components, computers, electronic products and spare parts are the two largest foreign currency earners of the country, according to the General Department of Vietnam Customs.

The Government has issued a decree specifying regulations on administrative fines for violations in the monetary and banking sectors.

Minister of Industry and Trade Tran Tuan Anh sounded the alarm about the high risk of power shortages at a meeting earlier this week.

The State Bank of Vietnam (SBV) is working on a new decree to regulate cryptocurrency.

The Vietnamese dong was expected to remain broadly stable against the US dollar over the remainder of 2019 and to be slightly weaker on average over 2020, buoyed by robust foreign direct investment (FDI) inflows, dollar purchases by businesses, and a healthy foreign reserve position, experts forecast.

The ninth conference on economic corridor cooperation of five provinces and cities, namely Hanoi, Hai Phong, Quang Ninh and Lao Cai of Vietnam and China’s Yunnan is underway in the northern province of Quang Ninh from October 24 – 26.

Indonesia's central bank cut interest rates for the fourth month in a row on October 24 as Southeast Asia's largest economy looks to counter slowing global growth.

Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.

Singapore on October 14 decided to ease monetary policy for the first time in more than three years as the national economy has narrowly avoided recession in the third quarter of 2019.

The Vietnamese Ministry of Finance (MoF) has said that Moody's Investors Service’s decision to place Vietnam’s Ba3 rating under review for downgrade due to delayed payments on an obligation of the Vietnamese Government was improper as the Government has never delayed meeting debt repayment obligations.

Thailand’s currency has surged in value to a 6-year high of 30.33 baht per US dollar at the end of October 9.

The Vietnam National Oil and Gas Group (PetroVietnam) has fulfilled and surpassed most of the production targets set for September and the first nine months of this year.

Vietnam’s coffee exports in the first nine months of this year fell by 13.3 percent in volume to 1.25 million tonnes and 21.9 percent in value to 2.15 billion USD compared with the same period of last year.

Lack of disclosed information, listing plans and risks of non-performing loans are dragging OTC-traded bank stocks down.

Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.