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.
Cambodia’s economy is projected to expand 7 percent in 2019, lower than the rate of 7.5 percent recorded in the previous year as export moderate in line with a fall in global demand, according to the World Bank (WB)’s report.
While the world’s largest emerging economies such as Russia, Brazil and China falter, Vietnam’s steady economic growth at nearly 7 percent this year will make it among the fastest-growing markets.
November 15 this year marks 15 years since Vietnam became a member
of the Asia-Pacific Economic Cooperation (APEC) forum, a move which has
proved greatly beneficial to the country’s international integration
policy.
The year 2013 will likely be better for Vietnam’s economy than 2012
amid slowly improving domestic and external demand and the initial
results from the country’s recent reform efforts.
According
to the report “Vietnam at a glance” released on January 3 by Hong
Kong and Shanghai Banking Corporation (HSBC), Vietnam’s economy
slowed to 5.0 percent in 2012 from 5.9 percent in the previous year.
Sell-off pressures remained strong among domestic investors on the HCM
City Stock Exchange on Dec.23, while the approaching Christmas holiday
appeared to cause foreign investors to back away from the market
following a furry of buys on Dec.20, said a market analyst with a HCM
City-based securities firm, Nguyen Cong Chinh.
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