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Vietnam Currency

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BUSINESS
August 15, 1994 | From Reuters
In a bid to curb widespread use of U.S. dollar bills, the Vietnamese government has served notice that most foreign currency will have to be channeled through banks beginning Oct. 1. The aim of the measure decided by Prime Minister Vo Van Kiet is to control an estimated $600 million now circulating in dollar notes and to increase use of the Vietnamese dong, a senior government economist said.
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BUSINESS
August 7, 1998 | From Times Staff and Bloomberg News
A currency devaluation by Vietnam sparked fears that China and other Asian nations would also devalue their currencies, moves that could worsen the region's economic crisis. Such fears triggered sharp declines in several Asian stock markets today, with Hong Kong's benchmark Hang Seng stock index falling in early trading as much as 2.7% to its lowest level since January 1995. Stocks also tumbled in Malaysia, Singapore and the Philippines.
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NEWS
June 10, 1991 | CHARLES P. WALLACE, TIMES STAFF WRITER
Trinh Ngoc Bao has an enormous headache. As deputy director of Hanoi's Chien Thang Sewing Factory, Bao has been struggling to keep the state-owned firm afloat under economic reforms requiring that he turn a profit or go bankrupt. Bao has slowly built up a small clientele in Sweden, South Korea and Japan that pays in hard currency. Last year, he built a new executive office complex with the profits.
BUSINESS
August 15, 1994 | From Reuters
In a bid to curb widespread use of U.S. dollar bills, the Vietnamese government has served notice that most foreign currency will have to be channeled through banks beginning Oct. 1. The aim of the measure decided by Prime Minister Vo Van Kiet is to control an estimated $600 million now circulating in dollar notes and to increase use of the Vietnamese dong, a senior government economist said.
BUSINESS
August 7, 1998 | From Times Staff and Bloomberg News
A currency devaluation by Vietnam sparked fears that China and other Asian nations would also devalue their currencies, moves that could worsen the region's economic crisis. Such fears triggered sharp declines in several Asian stock markets today, with Hong Kong's benchmark Hang Seng stock index falling in early trading as much as 2.7% to its lowest level since January 1995. Stocks also tumbled in Malaysia, Singapore and the Philippines.
BUSINESS
September 16, 1991 | From Times Staff and Wire Reports
Economy Is Called a 'Mess': Vietnam's top official in charge of fiscal policy believes the country's economy is "a mess" and bound to get worse unless the government steps up its fight against inflation, inefficiency and corruption. Deputy Premier Phan Van Khai said low tax returns, an unstable currency and continued dependence on government handouts threatened future growth, according to a Friday edition of the Saigon Newsreader.
BUSINESS
April 11, 2009 | Don Lee
Just a couple of years ago, this city was among the hottest investment zones in Asia. Multinationals as large as chip maker Intel Corp. and smaller firms such as Ampac Packaging, a Cincinnati-based maker of shopping bags for Gap and Target, flocked here and to other parts of Vietnam. They set up plants to complement or, in some cases, replace facilities in China that were becoming increasingly expensive to operate. "China plus one," they called it.
BUSINESS
August 8, 1998 | From Times Staff and Wire Reports
U.S. stocks' rebound continued for a second session on Friday, with the broad market finishing higher despite a mixed showing by key indexes. Smaller stocks, beaten down severely in recent weeks, led the charge. But the market's strong midday gains faded sharply in afternoon. On Wall Street the Dow Jones industrial average closed out a wild week with gain of 20.34 points to 8,598.02. The Dow had been up as much as 112 points before falling back.
NEWS
April 11, 1998 | DAVID LAMB, TIMES STAFF WRITER
Twenty years ago, Vietnam's Communist government set out to destroy free enterprise. Not surprisingly, its storm troopers headed straight for Cholon, the sprawling, prosperous Chinese district of Ho Chi Minh City. Truckloads of soldiers and volunteers wearing red armbands descended on the maze of crowded, narrow streets to inventory personal property--everything from gold watches to factory machines--that was to be turned over to the state.
OPINION
March 31, 2002 | PETE PETERSON
As a Vietnam veteran and former prisoner of war, I remember the horrors of the battlefield and understand how difficult healing can be. In 1997, when I returned to Vietnam as the U.S. ambassador and was chauffeured to my destinations, I could not forget the times when I had traveled those same roads in the back of a prison truck, handcuffed, shackled, blindfolded and often gagged. Nor did I forget the days when I only thought of Vietnam as a war, not a country.
BUSINESS
May 30, 1994 | From Times Staff and Wire Reports
Nation Aims to Boost Its Currency: The government said it plans to reduce the use of U.S. dollars for internal transactions. In a speech opening a new session of Parliament last week, Deputy Prime Minister Phan Van Khai said the government aims to introduce measures to ensure the national currency, the dong, is the only one used internally.
NEWS
June 10, 1991 | CHARLES P. WALLACE, TIMES STAFF WRITER
Trinh Ngoc Bao has an enormous headache. As deputy director of Hanoi's Chien Thang Sewing Factory, Bao has been struggling to keep the state-owned firm afloat under economic reforms requiring that he turn a profit or go bankrupt. Bao has slowly built up a small clientele in Sweden, South Korea and Japan that pays in hard currency. Last year, he built a new executive office complex with the profits.
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