As part of its remit of maintaining monetary stability, the State Bank of Vietnam (SBV) manages the dong’s exchange rate against the US dollar, with an eye on preventing sharp depreciation. In recent years, it has loosened the dollar peg and moved in the direction of market rates. The exchange rate regime is sometimes described as a managed...
Vietnam has been a member of the ASEAN since 1995, when it joined as part of its ongoing process of integrating into the global economy and opening to the world. In recent years, it has taken an increasingly active stance in the organisation, while its economy has closed the gap on the more affluent founding members.
Vietnam’s economic success over the past three decades has been built in no small part on its openness to international trade and investment. It is now among the world’s most open economies, according to the IMF – in the last 15 years alone, its share of world trade has quintupled, with combined imports and exports now equal to around 160-170...
The EU is one of Vietnam’s biggest trading partners, accounting for nearly a one-fifth of the country’s exports. Hanoi established diplomatic and commercial relations with the bloc in 1990, not long after the beginning of the Doi Moi economic and political reforms. This was followed by a cooperation agreement in 1995 which gave Vietnam...
After years of strong economic growth and surging foreign direct investment, Vietnam today is emerging as a key middle-income country in the Southeast Asian political and economic sphere. A nation of ancient traditions, with a youthful and energetic population, the Socialist Republic is also moving through a period of additional economic...
For the second time in its history, Vietnam is set to host the APEC summit and related activities in 2017. Focusing on the overarching theme of “Creating New Dynamism, Fostering a Shared Future”, the summit will gather economic leaders of 21 APEC members to discuss the future of free trade, new drivers for economic growth and the role of APEC...
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