Vietnamplus

Gold prices on global markets have made strong gains in the past two months, but investors with short-term appetite seem uninterested in gold.

The State Bank of Vietnam (SBV) has reported a foreign currency reserve amount of 68 billion USD in the first half of 2019, the highest level so far.

Power prices will increase by an average of 8.36 percent at the end of this month, said Deputy Minister of Industry and Trade Hoang Quoc Vuong on March 5.

Vietnam is deemed highly likely to curb its inflation below 4 percent in 2019, experts said at a seminar in Hanoi on January 3, which focused on national market and price movements during 2018 and forecasts for 2019.

In 2018, the banking sector witnessed many achievements such as increasing foreign exchange reserves, remittances, and profit, but also faced challenges in interest and foreign exchange rates.

Vietnamese companies are depending too much on bank loans, and when the number of companies increases, it will reduce their chance of receiving financing from financial institutions.

Many commercial banks raised deposit interest rates in recent months, triggering worries about the increasing pressure on the lending rates.

Deputy Prime Minister Vuong Dinh Hue, Chairman of the National Financial and Monetary Policy Advisory Council, chaired a meeting in Hanoi on September 28 to review monetary policy for the third quarter of 2018 and outline tasks for the coming time.

Many Vietnamese airlines have sought permission for fare hike on the ground that the world prices of fuel, which accounts for a big proportion of airlines’ operating expenses, are rising.

Prime Minister Nguyen Xuan Phuc inspected the wastewater treatment and manufacturing process at Hung Nghiep Formosa Ha Tinh Steel Company on July 20.

The daily reference exchange rate opened the week up 5 VND from the end of previous week to 22,653 VND/USD.

The daily reference exchange rate for VND/USD continued the rising trend on July 12, going up 5 VND to 22,652 VND/USD.

Foreign exchange rates are likely to rise strongly due to concerns that the US-China trade war may be escalating, said Director of the Vietnam Institute for Economic and Policy Research (VEPR) Nguyen Duc Thanh.

Deputy Prime Minister Vuong Dinh Hue has asked the State Bank of Vietnam to actively and proactively direct monetary policy; closely combine with fiscal and macro-policies to control inflation; and prevent double inflation caused by higher foreign exchange rates and global fuel prices.

Thailand does not intervene with foreign exchange rates to gain competitiveness in trade, the local central bank’s chief was quoted by Asian Nikkei Review as saying.

Focusing on business production development and creating a healthier business environment remain major requirements for all departments and sectors, Prime Minister Nguyen Xuan Phuc said.

Vietnam has made significant socio-economic strides in February despite the week-long Tet holiday, heard a regular Cabinet meeting in Hanoi on March 1.

The Government convened its regular meeting, the first sitting in the Lunar New Year, in Hanoi on March 1 chaired by Prime Minister Nguyen Xuan Phuc.

The securities market is likely to be the most attractive investment channel for investors in the Vietnamese economy this year, analysts said.

The State Bank of Vietnam (SBV) is collecting feedback for a decree on gold trading, which will include a monopoly for the central bank on accepting gold deposits.