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The State Bank of Vietnam lent out US$1.4 billion Tuesday

Reported in Vietnam Biz, this is a huge sum of money relatively speaking. With the State Bank also continuing to issue treasury bills to suck money out of the economy and reduce pressure on the exchange rate, t looks very much like there is an interbank lending problem–the specifics of which would be good to know.

Of note, the length of these injections has been extended. In the past they were only for seven days, however, the last few instances have been for 14 days at a time.

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Vietnam power prices rise an average of 4.8 percent, still below cost

October 12, 2024

Of note, EVN has been running at a loss for some time and banking huge losses with no retail power prices increases in the four years to November 2023. For reference, the average electricity price for the world is 15.5 US cents per kilowatt-hour with electricity in Vietnam running at about 7.5 US cents per kilowatt-hour…

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Vietnam needs change in ‘thinking and vision’ for economic development: Economist

October 12, 2024

Vietnamese economist Tran Dinh Thien, has told local news outlet Vietnamnet that Vietnam’s ‘socialist-oriented market economy’ model needs a revamp, with its progress hindered by an over emphasis on the ‘socialist-oriented’ part rather than the ‘market economy’ part. “…Development inclines to ‘socialist orientation’, while the ‘market’ factor has been somewhat restrained which makes it unable to develop in [sic] the right track,” he told the publication…

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Vietnam Ministry of Planning and Investment sets 2025 growth target at 7-7.5 percent

October 12, 2024

Vietnam’s Ministry of Planning and Investment has set a target for GDP growth for Vietnam in 2025 of 7 to 7.5 percent in 2025, aiming to become one of the top 33 global economies, Tuoi Tre has reported. The goal includes achieving a GDP of US$500 billion and increasing per capita income to around US$4,900, up from US$4,284 in 2023. The article does not detail the Ministry of Planning and Investment’s rationale for setting this target…

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Vietnam C.Bank raises reference rate slightly, Friday

October 11, 2024

This Vietnamese Dong Tracker records the latest news and developments with respect to the local currency. It includes the current prices as well as State Bank of Vietnam monetary policy and open market operations including treasury bill issuances and interbank lending.

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