Time not right to declare victory in fighting inflation

The government and the State Bank of Vietnam (SBV) are right to focus policy on reducing inflation and achieving stability for the value of dong. High interest rates have been a significant part of enforcing those policy aims. While the pace at which inflation is growing has slowed down, it would be viewed badly by the market if “victory” was declared too early and interest rates lowered before it is clear that inflation is on a downward trend. Once it is on a downtrend, there may be scope to reduce interest rates gradually.

Cautious rate rise on cards

The announcement dispels doubts that the government will ease monetary policy which could blow up already high inflation rates. “The government determines to cap the credit growth this year at 20 per cent and money supply growth at 16 per cent in accordance with Resolution 11,” said Vu Duc Dam, Government Office chairman.

Vietnam interbank Dollar falls under vnd20,700 to lowest level in 1 month

Local banks quoted dollar prices VND50-60 lower than yesterday levels and they offered dollar at VND60-100/dollar lower than the ceiling prices and broadly widened spread between bid and ask to VND205-220 to minimize risks.

Vietnam is top spot for Singapore investors

Vietnam, Malaysia and Indonesia are the most popular investment destinations within asean among Singapore firms, according to a new survey.

Business confidence stays high

Alan Keir, HSBC’s Global Head of Commercial Banking, said: “Increased private consumption, global re-stocking and liquidity from the West have helped boost the emerging market economies. The emerging markets play a vital role in driving the global economy and SMEs in these markets are again demonstrating their strength and positivity on the global stage.”

Vietnam’s SMEs optimism level ranks 2nd in the world

This information was announced by the Hongkong and Shanghai Banking Corporation (HSBC) through its global survey on SMEs’ optimism level, on January 20. 60 percent of the surveyed enterprises said Vietnam’s economy would continue to grow in the next six months.

Growing up fast: Vietnam discovers the consumer society

Retailers cannot afford to skip Asia’s youngest market. Here’s why. McKinsey has worked in Vietnam with a number of domestic and international companies. In June 2010, we spoke with a dozen executives who do business there. We offer the following observations, based on these interviews and our own experiences, about what it takes to succeed in this dynamic market.

October’s CPI rise imposes harder missions

The consumer price index (CPI) in October rose by 1.05% against the previous month, imposing harder missions for the last two months this year, according to the General Statistics Office (GSO).

Trades sustain sluggish market

Active negotiated trades helped the VN-Index stave off losses on Oct. 28 to close essentially unchanged at 450.07 points.

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