Vietnamese Dong is ready to leave the unlikely past behind. If the Vietnamese economy resorted to currency devaluation in the past, there’s no longer any reason for the currency to stoop down further. Luckily, the Vietnamese economy is likely to reach stability in 2012. Thanks to various economic developments pursued by the government of Vietnam.
Vietnamese Dong Update: Discover A Promising 2012
Indeed, it is noteworthy to take a glimpse on 1993 and 2011. These are the years when the Vietnamese Dong had to step back. Vietnam’s national currency, in effect, had to encounter monetary devaluation. For instance, the government decided to devaluate the Vietnamese Dong for the betterment of national trade and commerce.
Nonetheless, 2012 shall be another remarkable year for the Vietnamese Dong. This year shall mark the renaissance of Vietnam’s national currency. Since the Vietnamese economy, particularly trade and commerce, is getting stable, there is no reason to place the Vietnamese Dong on the back seat. Instead, it is ready to take the wheels toward full revaluation.
Vietnamese Dong Update: Exclusive To Investment
Although the Vietnamese Dong encountered currency devaluation, the state has never turned its back on the national currency. As a matter of fact, the Vietnamese government encouraged the trade of Vietnamese Dong exclusively for purposes of investment. That is simply consistent with the anticipation of currency revaluation soon. Besides, there’s nowhere to go for the Vietnamese Dong but up in the valuation chart.
As a consequence of the government policy on the Vietnamese Dong trade, national economy has been harbouring investments amidst currency devaluation in 2011. Even the financial market has been active in the previous year. Investors are hopeful that the Iraqi economy shall revive the Vietnamese Dong real soon. Barclay Capital, Citigroup, and Deutsche Bank even sold 10-year bonds in favour of $1 billion return.
Vietnamese Dong Update: WTO Accession On The Side
Of course, accession to the World Trade Centre rings a bell to the global community. WTO membership, in particular, grants many different privileges. The organization facilitates trade agreement and dispute resolution at the same time. Sure, Vietnam is in excellent company upon accession in the prestigious organization that can also help strengthen the Vietnamese Dong.
In 2006, Vietnam successfully joined the pool of WTO member countries. WTO succession happens to be the ticket of Vietnam to reach global export market. The same can also help generate cheap imports in favour of the Vietnamese economy. Odds, however, suggested that Vietnam cannot expect favourable results immediately. That makes 2012 the best time for the economy to make the most of WTO privileges.
Vietnamese Dong Update: Shifting Toward Industrialization
Vietnam, like most Asian countries, considers agriculture as the bread and butter of the national economy. Fair enough, the country takes pride of agricultural products fit for export such as rice, seafood, and wooden handicrafts. Rice export alone jumped to over $1 billion in 2005 based on General Statistics report.
In the recent years, moreover, the Vietnamese economy shifted in favour of industrialization. After all, foreign investors are pouring out resources in the country to support the development of infrastructures. Vietnam, in turn, offers youthful and skilful workers to support operation. In the same way, it can also fortify the value of Vietnamese Dong.
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