Thread: Latest news on the Dong!

Originally Posted by Countrygirl70

Will someone put it simple for me as to what all the news means in reference to the Dongs value? There was talk about RV & WTO but somewhere I have lost that connection.

I was just saying that to a friend today. Why are we expecting the Dong to RV??? I thought it had something to do with its admission on to the WTO. I think I remember reading that with admission into the WTO, their currency had to be in line with the outer lying countries, and when I checked they were around .30 to .40centsUS to 1 of their dollars...If I am correct haven't they been members of the WTO for a couple of months now..Can anyone respond to this.
Thanks, barmurphy

Originally Posted by barmurphy

I was just saying that to a friend today. Why are we expecting the Dong to RV??? I thought it had something to do with its admission on to the WTO. I think I remember reading that with admission into the WTO, their currency had to be in line with the outer lying countries, and when I checked they were around .30 to .40centsUS to 1 of their dollars...If I am correct haven't they been members of the WTO for a couple of months now..Can anyone respond to this.
Thanks, barmurphy

i read on a diff thread from the wto website that admission is not automatic-there is a 60 day + waiting period (im probably off on the time line) for acceptance of admission.

Originally Posted by lglwzrd

i read on a diff thread from the wto website that admission is not automatic-there is a 60 day + waiting period (im probably off on the time line) for acceptance of admission.

Actually I just took this from another thread/ re: WTO status

Quote:
Originally Posted by PAn8tv View Post
Is the VND fully convetable? If not how did Vietnam gain entry?

blackwulf
I read it in an article "somewhere" that (this is in line with my latest post on Iraq's application status) they got entry only if they'd agree to non-market status for 3 to 5 years. Under non-market status they don't have to have a revaled currency. However, I posted an article in the VND section a few days ago. That said Vietnam has grown so much that it will eventually have to reval.

Originally Posted by SimplyD

I am certainly no economics expert, but it is amazing to me how Vietnam is so properous now, with building investments, their booming stock exchange, foreign investment and the list of positive economic developments continues......so why have they not revalued their currency? I find it hard to believe that they are waiting on Iraq and the dinar.

Vietnam is an EXPORT country while Iraq is (currently) an IMPORT country.

Most of the news coming out of Vietnam is very good, however, for the sake of brevity, I only try and post those articles that seem to directly reflect upon an increase in the value of the currency.

That having been said, here are a few recent examples:

Vietnam becomes the 150th member of the WTO on Jan. 10, 2007.
http://www.thanhniennews.com/politics/?catid=1&newsid=24080

Vietnam, with a small but fast-expanding economy, wants the restricted Vietnamese dong to be convertible in the international market, a central bank official said on Thursday. http://www.thanhniennews.com/busines...2&newsid=27027

Vietnam Prospers Under WTO Membership

As a new World Trade Organisation (WTO) member, Viet Nam enjoyed many new opportunities to expand Vietnamese goods across the world market, particularly to the US and EU markets which were restricted by quotas before WTO membership.
http://vietnamnews.vnanet.vn/showart...um=06ECO040507

Vietnam the Second Thailand
The VND, the currency of Vietnam, the fastest growing economy in Southeast Asia, has been drawing the special attention of derivatives traders....
According to Peter Soh, Foreign Exchange Director in Singapore under DBS group, the biggest bank in Southeast Asia, all believe that Vietnam will follow the path China has gone, and that the VND will increase in value.http://farang.pai-nai.com/article.ph...econd-Thailand

Exchange rates may trip economy in 2007
Since September 2006, local banks have experienced US dollar surpluses for the first time with massive dollar inflows into the booming stock exchange and sharp increases in FDI attraction. This situation has put pressure on the State Bank, as the ultimate purchaser of local banks’ dollar surpluses, to revalue local currency.
http://english.vietnamnet.vn/biz/2007/05/694428/

Mr. A

I am not a donger only a dinarite, lol but i figured you all who invested in dong may find this positive


American Group invested 30 billion dollars in Vietnam
.The Vietnamese media yesterday that it is likely that an American group has invested 30 billion dollars in establishing a complex of steel in Vietnam, making it the largest foreign direct investments in the communist state.

.The newspaper said "Thanh Nien" (young people) that the group "Aminins" held a ceremony in Hanoi on the day before yesterday to the project, which will be held in the territory of Thanh Hoa, located 150 kilometers south of the capital Hanoi.

.The newspaper said that the establishment of the foundry operations will be divided in two phases, the first phase will be implemented with effect from 2007 until 2013 with investments worth eight billion dollars and the second from 2014 to 2020, with investments worth 18 billion dollars.

.And would foundry production capacity of 30 million tons of steel annually, and will operate 10 thousand people in most of the production would be exported abroad.

.The group also intends to invest four billion dollars in building support other installations including seaport and the power plant and a cement factory and the basin for ships and residential area and the Center for Research and Development.

.The newspaper said that the American company will submit a request for a license for the project from the government during the current month.
(د ب أ)(DPA)



5/17/20075 / 17 / 2007




Translated version of http://www.e-ahli.net/Fron_P/MainP_List_F.asp

Originally Posted by Mr. A

Most of the news coming out of Vietnam is very good, however, for the sake of brevity, I only try and post those articles that seem to directly reflect upon an increase in the value of the currency.

That having been said, here are a few recent examples:

Vietnam becomes the 150th member of the WTO on Jan. 10, 2007.
http://www.thanhniennews.com/politics/?catid=1&newsid=24080

Vietnam, with a small but fast-expanding economy, wants the restricted Vietnamese dong to be convertible in the international market, a central bank official said on Thursday. http://www.thanhniennews.com/busines...2&newsid=27027

Vietnam Prospers Under WTO Membership

As a new World Trade Organisation (WTO) member, Viet Nam enjoyed many new opportunities to expand Vietnamese goods across the world market, particularly to the US and EU markets which were restricted by quotas before WTO membership.
http://vietnamnews.vnanet.vn/showart...um=06ECO040507

Vietnam the Second Thailand
The VND, the currency of Vietnam, the fastest growing economy in Southeast Asia, has been drawing the special attention of derivatives traders....
According to Peter Soh, Foreign Exchange Director in Singapore under DBS group, the biggest bank in Southeast Asia, all believe that Vietnam will follow the path China has gone, and that the VND will increase in value.http://farang.pai-nai.com/article.ph...econd-Thailand

Exchange rates may trip economy in 2007
Since September 2006, local banks have experienced US dollar surpluses for the first time with massive dollar inflows into the booming stock exchange and sharp increases in FDI attraction. This situation has put pressure on the State Bank, as the ultimate purchaser of local banks’ dollar surpluses, to revalue local currency.
http://english.vietnamnet.vn/biz/2007/05/694428/

Mr. A

This is really a ice job summarizing some of the most important news articles. I for one am glad to be involved with this investment. I too believe it must Reval.

Originally Posted by Mr. A

Most of the news coming out of Vietnam is very good, however, for the sake of brevity, I only try and post those articles that seem to directly reflect upon an increase in the value of the currency.

That having been said, here are a few recent examples:

Vietnam becomes the 150th member of the WTO on Jan. 10, 2007.
http://www.thanhniennews.com/politics/?catid=1&newsid=24080

Vietnam, with a small but fast-expanding economy, wants the restricted Vietnamese dong to be convertible in the international market, a central bank official said on Thursday. http://www.thanhniennews.com/busines...2&newsid=27027

Vietnam Prospers Under WTO Membership

As a new World Trade Organisation (WTO) member, Viet Nam enjoyed many new opportunities to expand Vietnamese goods across the world market, particularly to the US and EU markets which were restricted by quotas before WTO membership.
http://vietnamnews.vnanet.vn/showart...um=06ECO040507

Vietnam the Second Thailand
The VND, the currency of Vietnam, the fastest growing economy in Southeast Asia, has been drawing the special attention of derivatives traders....
According to Peter Soh, Foreign Exchange Director in Singapore under DBS group, the biggest bank in Southeast Asia, all believe that Vietnam will follow the path China has gone, and that the VND will increase in value.http://farang.pai-nai.com/article.ph...econd-Thailand

Exchange rates may trip economy in 2007
Since September 2006, local banks have experienced US dollar surpluses for the first time with massive dollar inflows into the booming stock exchange and sharp increases in FDI attraction. This situation has put pressure on the State Bank, as the ultimate purchaser of local banks’ dollar surpluses, to revalue local currency.
http://english.vietnamnet.vn/biz/2007/05/694428/

Mr. A

Thank You, this is great
Barmurphy

I must get more Of This i only have 5 mi.

Originally Posted by Harold4187

I must get more Of This i only have 5 mi.

I think 20 million would do nicely.