Rate hike date

Illustrative image (Source: VNA) Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,167 VND/USD on December 9, up 3 VND from the last working day of previous week (December 6). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,862 VND/USD and the floor rate 22,472 VND/USD. The opening hour rates at most commercial banks remained stable. At 8:15 am, Vietcombank listed the buying rate at 23,090 VND/USD and the selling rate at 23,240 VND/USD, unchanged from December 6. BIDV also kept both rates unchanged at 23,120 VND/USD (buying) and 23,240 VND/USD (selling). Similarly, Techcombank maintained both rates at the same level as on December 6, listing the buying rate at 23,088 VND/USD and the selling rate at 23,228 VND/USD. During the week from December 2 to 6, the daily reference exchange rate followed a downward trend in the first two days then turned around to go up for the next two … [Read more...] about Reference exchange rate up 3 VND at week’s beginning

More than 1,000 cases were detected by June this year involving 2,600 victims. In 829 of them, the traffickers sold 2,319 people to China, according to ministry data released at a meeting on Tuesday. Most cases had been found in northern border provinces such as Lao Cai, Ha Giang, Dien Bien, and Quang Ninh, and most of the victims were women and children. In just six months from July last year Chinese authorities rescued more than 1,100 trafficked women, many them sold as brides, in a joint operation with Cambodia, Laos, Myanmar, Thailand and Vietnam. Besides the financial situation of victims, police officers have said negligence, easy immigration procedures and gender imbalance in destination countries are also responsible for human trafficking. China, the world’s most populous country, suffers from one of the worst gender imbalance rates due to its one-child policy and illicit abortion of female fetuses by parents wanting sons. This has led to increasing trafficking of … [Read more...] about 80 percent of Vietnamese human trafficking victims end up in China

Vietnam could drop out of the Top 20 economies of global growth. Is this because Vietnam is going more slowly or the world is going faster? Vietnam is now considered a ‘rising star’ after the US-China trade war breakout. While other countries have to struggle with economic growth slowdown or the fluctuations of local currencies, Vietnam still keeps high economic growth rates and macrostability. Vietnam is now considered a ‘rising star’ after the US-China trade war breakout. While other countries have to struggle with economic growth slowdown or the fluctuations of local currencies, Vietnam still keeps high economic growth rates and macrostability. By 2024, the global growth rate is predicted to soar to 3.6 percent. However, the major reason behind the growth would be related to emerging and developing countries, not big economies such as the US, Germany and Japan. Kim Chi  Vietnam’s economy stays positive amid global growth slowdown: PM … [Read more...] about How long will Vietnam stay in the top 20 in economic growth?

Vietnamese income has improved significantly, but it has not reached the $3,000per capita threshold as calculated by General Statistics Office, economists say. GSO announced it has applied a more reasonable calculation method, with which Vietnam’s GDP per capita is $3,000 per annum, or $400 higher than the figure found with the old method. GSO announced it has applied a more reasonable calculation method, with which Vietnam’s GDP per capita is $3,000 per annum, or $400 higher than the figure found with the old method. Whether to take the underground economy into account remains controversial in Vietnam. Mai Lan  Vietnam's GDP climbs 6.76 per cent in six months Vietnam’s gross domestic product (GDP) grew 6.76 per cent in the first half of this year, the second highest rate since 2011.   Services sector could boost Vietnam’s GDP growth to over 7% in 2019 The services sector in case of growing over 7.2% in 2019 could boost Vietnam’s … [Read more...] about Vietnam’s GDP per capita is $3,000 per annum

While Vietnam's plastic consumption per capita is far lower than its Asian neighbors, the Southeast Asian country is still among the top five countries in the world in terms of producing plastic waste, the Vietnam Plastics Association (VPA) said at an event on Wednesday. Each Vietnamese consumes approximately 45 kilogams of plastic per year compared to the 200kg consumed by each Japanese and 150kg by each Thai, VPA chairman Ho Duc Lam said at a ceremony to sign documents marking its cooperation with the Ho Chi Minh City Association for Conservation of Nature and Environment. But the amount of plastic waste produced by the country is much bigger, according to Lam, who added Vietnamese households discharge 80,000 metric tons of waste into the environment each day. Of that amount, plastic waste makes up three to five percent, equivalent to 2,400-4,000 metric tons. Lam noted that only 20 percent of the plastic waste is recycled. Vietnam is among countries which discharge the … [Read more...] about Vietnam has low plastic consumption, but huge plastic waste: association