More than VNĐ16.8 trillion was pumped into the market by the State bank last week. — Photo vietnamfinance.vnViet Nam News HÀ NỘI — The State Bank of Việt Nam (SBV) injected more than VNĐ41 trillion (US$1.75 billion) into the monetary market in the first half of October to boost the liquidity of the banking system. According to the latest report from the Bảo Việt Securities Company (BVSC), a net value of more than VNĐ16.8 trillion was continuously pumped into the market last week. In the previous week, the central bank added VNĐ24.4 trillion. The move proves that the liquidity of the banking system is not as abundant as it used to be, BVSC analysts said. In the inter-bank market, the interest rates for overnight loans slid by 0.1 percentage points in the past week to 2.84 per cent per year while the rate for two-week loans remained unchanged at 3.31 per cent. In contrast, the one-week loan rate rose … [Read more...] about SBV adds $1.75 billion to the market in October
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Over 1.7 million poor people get access to loans
Photo: vbsp.org.vnAccordingly, the loans contributed to creating jobs for over 192,000 labourers, including over 4,400 labourers sent to work abroad; and helping over 14,000 disadvantaged students continue their education. Additionally, they were used to build nearly 1.2 million safe water supply and hygienic constructions; over 22,000 houses for poor families; and nearly 800 social houses. Some VND14.56 trillion was also lent for creating jobs in the first 9 months of this year. “Loans for job creation have proven their efficiency, especially among rural and low-income people, thus making important contributions to boosting economic development and political stabilization,” said Nguyen Van Ly, VBSP Deputy General Director./. Compiled by BTA … [Read more...] about Over 1.7 million poor people get access to loans
L2FH No.1 of Vietnam really significant: UNMISS senior staff
Answering the People’s Army Newspaper reporter’s questions about the support of the UNMISS Sector North for the L2FH No.1 of Vietnam, Ms. Hiroko Hirahara said that this is the first time Vietnam has deployed a field hospital (as a military unit) to a UN peacekeeping mission; therefore, she encouraged the Vietnamese peacekeepers to find her if they have any questions. Ms. Hiroko Hirahara, Chief of the UNMISS Field Office in Bentiu She said the UNMISS has provided favorable conditions for the level-two field hospital of Vietnam to operate. Therefore, the staff of the hospital can now focus on implementing their professional jobs and do not have to worry about other issues. The working environment is also safe for the hospital as the section is protected by a Mongolian infantry battalion (850 troops), a Ghanaian infantry battalion (850 troops) and a police unit of Ghana stationed nearby. All of the troops there rely on the L2FH No.1 of Vietnam for medical … [Read more...] about L2FH No.1 of Vietnam really significant: UNMISS senior staff
Dong Nai to shut down Bien Hoa 1 IP
Dong Nai to shut down Bien Hoa 1 IPThe Saigon Times Daily A corner of Bien Hoa 1 Industrial Park - PHOTO: DONG NAI NEWSPAPER HCMC - The Dong Nai government is intent on shutting down Bien Hoa 1 Industrial Park, which is considered the main cause of the pollution on the Dong Nai River. In 2009, the then-prime minister approved the industrial park’s shutdown and the relocation of enterprises in the park, but the project remains stagnant, sparking public concern, according to Nguoi Lao Dong newspaper. As of October 12, some factories in the industrial park were still operational. Residents nearby complained that the industrial park has caused not only water pollution on the Dong Nai River but also air pollution. According to urban experts, the industrial park’s infrastructure has deteriorated and its untreated wastewater and exhaust fumes are directly discharged into the environment. Meanwhile, the industrial park is located in one of the most developed … [Read more...] about Dong Nai to shut down Bien Hoa 1 IP
VND likely to depreciate 1% toward end-2018 as CNY weakens
The Hanoitimes - As the CNY is expected to continue sliding, the Vietnamese dong (VND) could in turn see it value lost by a further 0.5-1 per cent toward the year end, requiring the central bank to be more flexible with its FX policy. The weakness of the Chinese currency seen in the past months and forecast for its additional devaluation are prompting HSBC to be on the alert for further depreciation of the VND toward the end of 2018, with the local currency to lose some 0.5-1 per cent in value, according to HSBC Vietnam CEO Pham Hong Hai. Illustrative photo “This would help ease the pressure on the competitiveness of the VND against the CNY and other currencies in the region,” said Hai on an interview in Hanoi last week. The CNY has felt to its 19-month low at the beginning of October with major factors including the People’s Bank of China lowering its reserve requirement ratios (RRR) for some banks for a fourth time this year. What’s more, the … [Read more...] about VND likely to depreciate 1% toward end-2018 as CNY weakens