Topic: increase

Total industrial production value estimated at $2.62 billion.

A recent inspection by the Civil Aviation Authority of Vietnam (CAAV) into airline ticket sales, pricing, and disclosures has found no violations of government regulations. However, the review highlighted inconsistencies in how airlines present fare information to consumers and a lack of awareness regarding promotional offers.

Import turnover from neighboring country stood at $373 million in the opening month of the year.

State-owned commercial banks such as Vietcombank, VietinBank, and Agribank increased deposit interest rates by 0.8 to 1.3 per cent on September 27. This will likely push up all deposit rates.

The selling price of USD at the State Bank of Vietnam (SBV) and commercial banks is still much lower than the ceiling, despite inflation rising in the US and major currencies depreciating against the dollar. According to analysts, while the US Fed is set to raise interest rates, demand for foreign currency in Vietnam has not shown any strong increase.

Coastal real estate prices in Ha Long city in northern Quang Ninh province have increased sharply over recent years. They are still, however, only two-thirds of those seen in traditional coastal real estate markets such as Da Nang, Nha Trang, and Phu Quoc Island. According to investors, price rises will therefore be difficult to stop in Ha Long city, especially given the shortage of real estate in prime locations.

The pressure to issue government bonds to fund public investment projects is not overly high so interest rates should increase slowly. However, according to some analysts, rates may increase faster as the pace of public investment disbursement increases from now to the end of the year.

Vietnam’s inflation rate will come in at 2.25 per cent for the opening months of 2022, which is controllable, State Bank of Vietnam (SBV) Governor Nguyen Thi Hong told the third session of the 15th National Assembly on June 8. The rise mainly stems from higher prices for goods globally. Therefore, until the end of the year, monetary policy must closely follow the disbursement of recovery packages to avoid an impact on inflation.

According to the General Statistics Office, increases in food and gasoline prices pushed up the CPI in May by 0.38 per cent compared to April. The CPI in the first five months of the year rose 2.25 per cent year-on-year. Core inflation in May was 0.29 per cent month-on-month. There are concerns that Vietnam’s economy will face inflationary pressure into the future.