Sector in economy

Tai Hui, head of the Standard Chartered Bank’s Asian research department, says that there are two factors that put pressure on the devaluation of the VND. First, the increase in the price of gold makes local investors pay more attention to gold than the Vietnamese currency. Second, the trade deficit may reach more than US$2 billion a month. Although this level is lower than in the first half of 2008 (about US$2.5-3 billion), it has raised great concern about the balance of payment, especially when FDI and overseas remittances are forecast to increase slightly. … [Read more...] about Increase basic interest rate – a good therapy for national economy

The city’s top leader called for drastic measures to create new opportunities and motivation for the city’s growth. Five key areas were identified to attract domestic and foreign investment: to resume and speed up production, trade and exports; to stimulate tourism and domestic consumption; to promote public investment, and to address difficulties for major projects that had been delayed for years. … [Read more...] about Đà Nẵng kickstarts economy after COVID-19 pandemic

The size of the DPPA program is expected to range 400-1000MW, and will be available for wind and solar producers with a capacity greater than 30MW and consumers in industrial manufacturing purchasing electricity at a voltage level of 22 kV or larger. Fitch Solutions believed these developments will encourage further growth and investment in the sector. … [Read more...] about Vietnam wind power sector to see growing opportunities: Fitch Solutions

The GSO said the total import and export turnover during the reviewed period dropped by 2.8% to US$196.84 billion in comparison to the same period from last year. Elsewhere the five-month period saw the export turnover of goods in the domestic sector enjoy an increase of 10.4% to US$33.3 billion, while the foreign invested sector grossed approximately US$66.06 billion, representing a decline of 6.9% on-year and accounting for 66.5% of the total export turnover figure. … [Read more...] about Nation racks up US$1.9 billion trade surplus over five-month period

Volkswagen said it was 'paving the way for more electric models and infrastructure'. (Photo: AFP/Ronny Hartmann) The German car giant said it will take a 50 per cent stake in JAG - the parent company of state-owned JAC Motors - and increase its holding in the JAC Volkswagen joint venture from 50 per cent to 75 per cent for around 1 billion euros. … [Read more...] about Volkswagen invests US$2.2b in Chinese electric vehicle sector