The marine spatial plan is set to be the cornerstone for the development of Vietnam’s coastline. It has, however, been a long time coming. Work began on the marine spatial plan in 2018 but is still ongoing with a broad range of stakeholders from a diverse range of industries–defence, oil and gas, fisheries, and tourism to name but a few. Not to mention the geopolitical implications related to carving out a swathe of the South China Sea or East Sea as it is known in Vietnam. With this in mind, it may be a while longer too…

Vietnam PM suggests foreign workers for executive roles at state-owned enterprises

the-shiv June 17, 2024

In the past the leaders of SOEs have always been members of the Communist Party of Vietnam which has significantly reduced the talent pool from which to draw–there are currently only a little over 5 million members of the party or around 5 percent of the population. This also leaves these positions open to being filled through political jostling and networking often connected to seniority and an individual’s position within the party more broadly, rather than merit and qualifications…

How the State Bank of Vietnam’s federal reserves are sold into the market

the-shiv April 23, 2024

The State Bank of Vietnam–the SBV–has started selling its US dollar reserves in order to stop the local currency from devaluing further. According to this article from Tuoi Tre it is doing this by selling its dollars to banks that hold negative foreign currency positions. They are allowed to buy

Vietnam has started dipping into its US dollar reserves to prop up dong

the-shiv April 21, 2024

The State Bank of Vietnam–the SBV–has begun spending US dollars in its foreign reserves to prevent the dong from sliding further against the US dollar Bloomberg is reporting. This follows on from a series of treasury bill issuances over the last month or so that have done very little to

Vietnam ambassador pressures US to remove ‘non-market economy’ label

the-shiv January 26, 2024

Vietnam’s ambassador to the US, Nguyen Quoc Dzung, has said that including Vientam among the 12 countries in the world the US considers be non-market economies is unacceptable, Reuters has reported. He goes on to say that “So I think if the DOC (Department of Commerce) turned down that, I

Vietnam banks expected to lend US$82 billion this year

the-shiv January 8, 2024

With a credit growth limit of 15 percent in place for 2024, Vietnam’s Banks are expected to issue loans to the tune of US$82 billion this year, VN Express is reporting. The publication also notes that credit growth for 2023 reached 13.71 percent in 2023. Food for thought: Credit growth

C.bank grants Vietnam’s banks 15 percent credit growth limit for 2024

the-shiv January 3, 2024

The State Bank of Vietnam has set a 15 percent credit growth limit for Vietnam’s banks in 2024, Tuoi Tre is reporting. Note that this is higher than the usual 14 percent a year probably due to a failure to hit 14 percent in 2023. Credit growth mid-December was just

British diplomatic cables raise series of concerns about Vietnam’s JETP

the-shiv December 12, 2023

British diplomatic cables seen by Political reveal a number of concerns about how Vietnam’s Just Energy Transition Partnership Resource Mobilisation Plan was put together, the publication reported December 8. Politico’s article has a number of choice quotes that reveal the development of the plan and its implementation may not be

Singapore bank predicts Vietnam interest rates steady in 2024

the-shiv December 11, 2023

Singapore’s United Overseas Bank (UOB) has said it believes the State Bank of Vietnam (SBV) will keep rates on hold next year to boost growth, Vietnam Plus is reporting. The UOB predicted back in September that rates would be cut before the end of this year, but this has not

Government procurement floated as means to grow Vietnam supporting industries

the-shiv December 4, 2023

VN Express is carrying an article about Vietnam’s supporting industries, or lack thereof, amid booming exports. Of interest, is one particular solution put forward by Pham Chanh Truc, former head of the Saigon Hi-tech Park. “The government has to create a market by ordering goods from domestic businesses. After some