Hanoi (VNA) - The State Bank ofVietnam (SBV) has reported a foreign currency reserve amount of 68 billion USD inthe first half of 2019, the highest level so far.
This has helped the centralbank to stablise foreign exchange rates.
According to a macroeconomic report by the BankingUniversity of Ho Chi Minh City, foreign direct investment (FDI) flows annually pouredinto Vietnam are important resources for the nation’s foreign currency reserves.
The report also pointed out challenges facing Vietnam in the coming time,including the US-China trade war which causes impact on global economicactivities.
Vietnam’s export growth in the first half of thisyear expanded only 7.3 percent, 10.5 percent lower than that of the same periodlast year.
Trade deficit was at 37 million USD in the period, while the country enjoyed atrade surplus of 4.12 billion USD a year before.
Export turnover of the domestic economic sector increased by 10.8 percent.Meanwhile, that from the FDI area, which plays a crucial role in offsetting tradedeficit from the domestic economic sector, rose by only 5.9 percent in thereviewed period.-VNA
The socio-economic situation in the first six months of 2016 reaped positive outcomes with the macro-economy being stable, Prime Minister Nguyen Xuan Phuc reported.
So far this year the State Bank of Vietnam has bought over 10 billion USD in foreign exchange, increasing the country’s reserves to a record high of more than 40 billion USD.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: Vietcombank) 
