The Business Times: New circular puts limit on foreign currency loans

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• New circular puts limit on foreign currency loans
• ANZ predicts Vietnam’s GDP growth at 6.9% in 2016
• ANZ: USD to settle at VND23,000 at year-end
• Vietnam’s central bank says not cutting off dollar loans
• ASEAN +3 financial officials meet in Vientiane
• Private developers lead way in VN
• Central Bank Ups Anti-Dollar Efforts
• Falling Prices if Key Products Slow Export Growth in Q1
• Half Vietnam’s Rice Exports to Go to China
• State Budget’s Revenue Up 0.3% in Q1 of 2016

New circular puts limit on foreign currency loans Posted: 03 Apr 2016 10:32 AM PDT HSBC CEO Pham Hong Hai talked with Dan Tri about the effect of newly-issued Circular 24 by the State Bank of Vietnam on the Vietnam's dong's value and foreign exchange rates.   Pham Hong Hai On December 8, 2015, the SBV issued Circular 24 on providing foreign currency loans. It states that banks would stop The post New circular puts limit on foreign currency loans appeared first on Vietnam Business News.

ANZ predicts Vietnam’s GDP growth at 6.9% in 2016 Posted: 03 Apr 2016 06:32 AM PDT The ANZ Bank has forecast that Vietnam will post an annual GDP growth of 6.9% in 2016 and 6.5% in 2017 despite a decline in agricultural output. According to the bank's latest report on 'Greater Mekong outlook', Vietnam's GDP growth reached 5.6% in the first quarter of 2016, lower than ANZ's estimate of 6.2%. Agricultural The post ANZ predicts Vietnam's GDP growth at 6.9% in 2016 appeared first on Vietnam Business News.

ANZ: USD to settle at VND23,000 at year-end Posted: 03 Apr 2016 04:18 AM PDT According to ANZ's Asia Pacific Economics – Greater Mekong Outlook report released on March 31, the Greater Mekong currencies have generally strengthened against the USD on the back of a more dovish US Fed statement to hold on to its the target range for the interest rate at 0.25 to 0.5 per cent. "In the The post ANZ: USD to settle at VND23,000 at year-end appeared first on Vietnam Business News.

Vietnam’s central bank says not cutting off dollar loans Posted: 03 Apr 2016 04:18 AM PDT An undated photo of US dollar notes running through a counter at a bank in Ho Chi Minh City. Photo: Dao Ngoc Thach The State Bank of Vietnamhas denied claims that it is curbing dollar lending across the board, saying those who have “justifiable needs” will still be given access to loans in foreign currencies. The post Vietnam’s central bank says not cutting off dollar loans appeared first on Vietnam Business News.

ASEAN +3 financial officials meet in Vientiane Posted: 03 Apr 2016 04:18 AM PDT The ASEAN+3 Deputy Finance Ministers and Deputy Central Bank Governors Meeting aimed to discuss measures to further strengthen financial cooperation in the region, regional and global economic prospects in recent times, as well as macro economic development in ASEAN member nations and the bloc's three partners. Participants reviewed the outcomes in enhancing the Chiang Mai The post ASEAN +3 financial officials meet in Vientiane appeared first on Vietnam Business News.

Private developers lead way in VN Posted: 03 Apr 2016 04:18 AM PDT Seven in 10 of the most prestigious property developers in Việt Nam are private enterprises, with the top three being property developers with headquarters in Hà Nội, the Vietnam Report has announced.–Illustrative Image vneconomy.vn According to the report carried out by the Vietnam Report Joint Stock Company from February 2015 to February 2016, the top The post Private developers lead way in VN appeared first on Vietnam Business News.

Central Bank Ups Anti-Dollar Efforts Posted: 03 Apr 2016 04:04 AM PDT Central Bank Ups Anti-Dollar Efforts The State Bank of Vietnam (SBV) will tighten lending in foreign currencies in some cases from March 31 in an effort to step up its anti-dollarisation drive. Under Circular 24/2015/TT-NHNN, commercial banks will no longer be allowed to provide lending in foreign currency to exporters who do not need it The post Central Bank Ups Anti-Dollar Efforts appeared first on Vietnam Business News.

Falling Prices if Key Products Slow Export Growth in Q1 Posted: 03 Apr 2016 04:04 AM PDT Falling Prices if Key Products Slow Export Growth in Q1 Despite a robust rise in March, Vietnam's export growth in the first quarter of this year is still lower than in the same period last year due to lower prices of major export products, according to the Ministry of Industry and Trade. Vu Ba Phu, The post Falling Prices if Key Products Slow Export Growth in Q1 appeared first on Vietnam Business News.

Half Vietnam’s Rice Exports to Go to China Posted: 03 Apr 2016 04:04 AM PDT Half Vietnam's Rice Exports to Go to China The Vietnam Food Association (VFA) has forecast that China would account for around half Vietnam's rice export volume this year as the northern neighbor did last year. Huynh The Nang, chairman of VFA and general director of Vietnam Southern Food Corporation (Vinafood 2), said at a conference The post Half Vietnam's Rice Exports to Go to China appeared first on Vietnam Business News.

State Budget’s Revenue Up 0.3% in Q1 of 2016 Posted: 03 Apr 2016 04:04 AM PDT State Budget's Revenue Up 0.3% in Q1 of 2016 Total budget revenue in the first quarter of this year reached VND230.5 trillion (US$10.3 billion), equalling 22.7 per cent of this year's target revenue, an increase of 0.3 per cent over last year said the Ministry of Finance (MoF)'s office manager Ngo Chi Tung. Tung announced The post State Budget’s Revenue Up 0.3% in Q1 of 2016 appeared first on Vietnam Business News.

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