Category Archives: Industry

State Bank of Vietnam cuts some interest rates

  The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16.   Accordingly, the interest rate of compulsory reserves

Reference exchange rate down 5 VND on August 6

The State Bank of Vietnam set the daily reference exchange rate at 23,203 VND per USD on August 6, down 5 VND from the previous day.   With the current trading band of+/-3 percent, the ceiling rate applied to commercial

Industrial production declines in HCM City in seven months

The index of industrial production (IIP) in Ho Chi Minh City went down 5.5 percent year-on-year in seven months of this year due to COVID-19 pandemic, according to the municipal Department of Industry and Trade.   In July alone, the

Footwear exports likely to bounce back at year’s end

Footwear exports were estimated to hit 9.53 billion USD in the first seven months of 2020, a year-on-year decline of 7.9 percent, according to the Ministry of Industry and Trade.   The sector is among the hardest hit by the

CPTPP countries discuss post-pandemic recovery plan

  Economic and trade ministers of signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) met online on Thursday to discuss how to best intensify cooperation and prepare an action plan to boost post-pandemic economic recovery. The third meeting

WTO sees global trade down 13% due to pandemic

The World Trade Organization expects global trade to fall 13% this year due to the coronavirus, significantly less than its most pessimistic scenario of a 32% slump. WTO chief Roberto Azevedo said on Tuesday that there is growing concern within

Digital economy enhances connectivity in Indo-ASEAN-Oceanic region

  At an online meeting with ambassadors of countries participating in the Indo-ASEAN-Oceanic Business Summit and Expo that opened on Tuesday, Vietnamese Ambassador to India Pham Sanh Chau urged countries to push ahead with the digital economy and IT application

Samsung to shift PC production from China to Vietnam: Nikkei Asian Review

Samsung Electronics will close its personal computer manufacturing plant in Suzhou, China, in August, said Nikkei Asian Review.  Parts of the facility will be converted into a research and development center. Samsung plans to transfer its production to an existing

Vietnam, China address difficulties in agricultural outlets

  -Vietnamese Deputy Minister of Agriculture and Rural Development Le Quoc Doanh on Wednesday worked with Commercial Counsellor of the Chinese Embassy in Vietnam Hu Suo Jin to address difficulties in Vietnamese farm exports to China. The Deputy Minister expected China to help

Reference exchange rate up 7 VND on August 4

The State Bank of Vietnam set the daily reference exchange rate at 23,214 VND per USD on August 4, up 7 VND from the previous day.   With the current trading band of+/-3 percent, the ceiling rate applied to commercial