International organisations lauded the exchange rate and amplitude adjustments made by the State Bank of Vietnam (SBV) as a timely and appropriate move to cushion external shocks.
International organisations lauded the exchange rate and amplitude adjustments made by the State Bank of Vietnam (SBV) as a timely and appropriate move to cushion external shocks.
Head representative of the International Monetary Fund (IMF) in Vietnam Jonathan Dunn said the widening of the trading band provides an enhanced buffer against external shocks and provides more scope for Vietnam to have an independent monetary policy, and thus will help the authorities achieve the broader goal of maintaining macroeconomic and inflation stability. He also said the enhanced two-way flexibility is also important to facilitate fundamental changes in Vietnam’s economy, such as in response to new trade arrangements and other structural reforms.
Acknowledging the SBV’s accurate assessment and prompt response to external developments, Country Director of the World Bank (WB) in Vietnam Victoria Kwakwa said the step showed a more flexible in exchange rate management, allowing market elements to have a more active role in determining the exchange rate while contributing to stabilising the financial market.
However she cautioned that Vietnam should continue to maintain macroeconomic stability in the long run, develop “policy buffers” and consolidate a macroscopic foundation to strengthen the economy’s capacity to resist and recover from outer shocks such as the recent devaluation of the Chinese Yuan.
Agreeing with Kwakwa’s point view, General Director of Vietnam Standard Chartered Bank Nirukt Sapru reckoned that in the short term, the SBV’s adjustments will benefit competitiveness in exports, but in the long term, the government should focus on macroscopic elements.
He also praised the country’s progresses in the past two years, adding that the widened exchange rate amplitude gave more scope to cope with future risks while enabling the government to manage the domestic currency more effectively.
Natalia Ansell, General Director of Vietnam Citibank said the SBV’s timely adjustments reflected its response speed and flexibility while maintaining Vietnam’s economic competitive edge, ensuring growth targets.-VNA
The SBV’s recent adjustment of the VND/USD trading band up by 1 percent is a timely and sound response to the currency market’s movement amid the Chinese yuan's sharp weakening gainst the US dollar.
The State Bank of Vietnam (SBV) has increased the average inter-bank exchange rate between the VND and USD applicable to August 19 by 1 percent, from 21,673 VND to 21,890 VND per one USD.
Vietnamese export enterprises said they are not likely to be affected by the State Bank of Vietnam (SBV)’s adjustment of the average inter-bank exchange rate between the VND and USD.
Nguyen Thi Hong, Deputy Governor of the State Bank of Vietnam (SBV), on August 19 met the media to explain the SBV’s decision to raise the interbank USD/VND exchange rate.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative image (Source: VNA)
