Submitted by jmurda on March 19, 2008

• Category: Business
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Vietnam

Some older projects with unrealized capitalization needs have closed down. The trend continues to convert unworkable joint ventures (with non-performing domestic JV partners) into fully foreign invested enterprises.

Dong Fluctuation. In early 2006, the value of the VN dong to the US dollar is close to 16,000 to one.

The Vietnamese currency (began to fluctuate widely in December 1997. At that time it dropped sharply against the US dollar from 11,500 to 14,200 on the free-trade, black market as against the official rate of 12,200. The national bank permitted the dong to be traded at up to 10% above State rates, and it held at 13,000 until early summer 1998...

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