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Overview of Vietnam Economy in 2013-2014

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Submitted By thusoi
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2013 1. VPursuant to Government Resolution No. 02, SBV issued Circular No.11, offering a VND30 trillion credit package to support social housing buyers. The package is expected to be one of the fundamental solutions to relieve the burden of mounting unsold local real estate stock.ND 30 trillions ($1.4 billion) credit package for potential house buyers deployed.
However, as of mid- December, the disbursement rate was reported to hit VND555 billion, or less than 2% of the total value of the package, according to the Ministry of Construction. 2. Gold prices fall by VND 11.6 million, gold bullion tender sessions held during the year.
By the end of the last day of 2013, the bid and ask prices of SJC gold bullion were quoted at VND34.62 million and VND34.92 million per tael (1 tael = 1.2 ounces), down VND11.62 million ($545) per tael compared to early 2013 – a record price drop for any one-year period ever recorded.
The dramatic decrease of gold prices made the role of gold investment – usually a safe haven – fade away in 2013.
After the sales of 26,000 taels of gold bullion, or around 0.98 ton in the first auction session held on March 28, 2013, SBV sold a total of 1.82 million taels, or almost 70 tons of gold bullion, during 76 sessions in which the central bank offered 1.932 million taels throughout the year. 3. Interest rates matching those of 2005-2006 4. Macroeconomic stability maintained, inflation under control. 5. Stock market makes strong recovery. 6. Ongoing negotiations for Trans-Pacific Partnership trade agreement. 7. FDI on a rise, investigation on transfer pricing at FDI firms launched.

2014 1. Record low inflation and beyond expectation GDP

Vietnam’s inflation rate in 2014 was 4.09 percent, the lowest rate ever for the last 10 year and 2.91 percent lower than the NA norm of 7 percent. Several experts said the

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