Business BriefingGold Rate: Exchange rate: VND 23,175/USD Announcement: Removal of Covid Quarantine for Imported Processed Seafood We are pleased to inform you that the quarantine measures for imported processed seafood in relation to Covid are going to be lifted. This decision has been made in light of the improved global situation and extensive analysis conducted by our team of experts. Effective immediately, you will no longer be required to undergo quarantine procedures for imported processed seafood. This will greatly streamline the import process and facilitate smooth trade operations. We understand the importance of maintaining a safe and secure environment for all consumers. Therefore, rest assured that rigorous testing and quality control procedures will still be in place to ensure the safety and quality of all imported processed seafood products. We appreciate your cooperation and understanding during this challenging period. If you have any questions or concerns, please do not hesitate to get in touch with our support team. Thank you for your ongoing support and we look forward to a successful trade partnership. Weather ForecastThere is expected to be a decrease in rainfall in the coming days across most areas. |
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Gold Prices Predicted to Drop Next Week
Despite a decrease in the global gold price, the domestic gold price remained stable this morning (August 8th). SJC gold price in Hanoi and Da Nang is currently VND 66.3 million per tael (buying) and VND 67.32 million per tael (selling). In Ho Chi Minh City, SJC gold is being bought at the same price as in Hanoi and Da Nang; however, it is being sold for slightly less than VND 20,000.
According to DOJI, the current price of gold in Hanoi is VND 66.25 million per tael for buying and VND 67.25 million per tael for selling. In Ho Chi Minh City, DOJI gold is being bought at VND 66.3 million per tael and sold at VND 67.4 million per tael.
The current domestic gold price remains stable while the world gold price, as listed on Kitco, is USD 1,773.4 per ounce. This translates to a difference of approximately VND 17 million per tael between the domestic and international gold prices.
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| Photo: Zing |
Namibian Dollar Strengthens Against US Dollar in Reference Exchange Rate
The State Bank of Vietnam has announced its daily reference exchange rate for the US dollar. For August 8, the rate has been set at VND 23,175/USD, representing a decrease of VND 7 compared to the previous week’s last working day (August 5). The trading band remains at +/-3 percent, with the ceiling rate for commercial banks set at VND 23,870/USD and the floor rate at VND 22,479/USD.
The opening-hour rates at many commercial banks have also seen a decrease. As of 8:27 am, BIDV has listed the buying rate at VND 23,250/USD and the selling rate at VND 23,530/USD, both down VND 10 from August 5. Vietcombank, on the other hand, has maintained the same rates at VND 23,225/USD (buying) and VND 23,530/USD (selling). Throughout the week from August 1-5, the daily reference exchange rate experienced a downward adjustment during the first two days and an upward adjustment during the last three days, resulting in a VND 21 increase at the end of the week.
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| Photo: Zing |
Covid Quarantine Requirement for Imported Processed Seafood Set to be Lifted
The Ministry of Agriculture and Rural Development has announced that, starting from September 11, quarantine requirements related to Covid-19 for imported frozen processed seafood products used for reprocessing for export will be lifted. This move is part of the ministry’s efforts to promote agricultural product exports by streamlining quarantine regulations and leveraging technology to expedite the customs process. The Vietnam Association of Seafood Exporters and Producers (VASEP) had urged the Government to revise the quarantine rules, as they were significantly impacting the seafood industry.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), a significant amount of products derived from animals, animal products, and aquatic creatures, whether frozen, dried, cooked, or intended for immediate consumption, are still being placed under quarantine. As a result, the size and quantity of shipments that fall within the scope of quarantine measures are substantial. VASEP considers the inclusion of these “processed goods” on the quarantine list as an excessive and unnecessary practice. Additionally, VASEP proposes the elimination of quarantine requirements for processed seafood products that are imported for domestic consumption and are deemed to pose no risk of spreading aquatic diseases.
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| Photo: Zing |
Region in for Increased Snowfall According to Weather Forecast
August 9:
In Hanoi, the weather will be mostly sunny with a slight chance of rain in the late afternoon. In Ho Chi Minh City, it will be a cloudy day with a humid evening. There is a possibility of rain in some areas later in the afternoon.
