Thread: Latest news on the Dong!

Credit growth limit in 2012 to be allocated according to bank groups: SBV deputy governor

At the Consultative Group (CG)’s annual meeting of Donors for Vietnam 2011, the State Bank of Vietnam (SBV)’s Deputy Governor Le Minh Hung answered the recommendations of CG whereby in 2012 the central bank will implement monetary policy to ensure the inflation at below 10% and credit growth at 15-17%.
Besides, this the central bank will continue directing commercial banks to adjust credit structure and focus capital for prioritized areas such as production and business, agriculture and rural areas, loans to small and medium sized enterprises (SMEs), especially continue strict controls on non-production and non-prioritized areas.
The central bank will strengthen supervision and inspection activities in 2012 to ensure the operation of commercial banks safely and in lines with the law.
Mr Hung also said that the credit growth limit in 2012 will be allocated according to the bank groups based on the assessment of performance quality in accordance with criteria to ensure for safety targets, good risk administration system and liquidity issue in lines with the central bank’s provisions.
Regarding credit to non-production and non-prioritized areas in 2012, the central bank will continue to control but have regulations in accordance with credit institutions and financial organizations operating mainly in the consumer lending sector and exclude the capital demand for the essential needs of people such as construction of houses for sale or lease to low-income earners and house for workers at industrial zones and house repairs.
In the near future, the central bank has built a draft decision on forward forex rate in the forward transactions, swap transactions and draft circular on foreign currency status of credit institutions and foreign bank branches. It is expected that these documents will be issued together with the new regulations on foreign currency lending activities in January 2012 to ensure the synchronization.
The central bank has also completed draft circular guiding foreign exchange transactions between the central bank and credit institutions and branches of foreign banks. This circular is expected to be issued within December 2011.

Do you think the Dong is a good investment?

Originally Posted by livefree

Do you think the Dong is a good investment?

Personally, not much, and technically, it has dropped in value over the past year, so this is never a good indication, and for this reason, I wouldn't count on much of an increase. I picked up a million several years ago, but as with the dinar, nothing yet. Atleast the dinar did go up in value over the years, and sooner or later it has to be restored to former value as I see it. Viet Nam does have oil reserves off shore, but not to the same level of Iraq, and not the same sweet crude, so this remains debatable.

Success to all,

Would you please translate into English. Not everybody reads this language and this is America where you are supposed to post in English as well as in your language. Thank you.

AlmadinaEshop.com and Havyequipment.com (each a “Site”, along the “Sites”) area unit electronic commerce platforms area unit preponderantly employed by business entities to facilitate electronic commerce and such business use doesn’t usually involve the gathering of non-public data of people.

what is dong?

Originally Posted by xMarkdSpot

what is dong?

Hi. Dong is what the Vietnamese currency is called. Do you really not this? By the way, Happy New Year.