On July 10, 2020, in Da Nang, Vietnam National Chemical Group (Vinachem) held a periodical conference to appraise producting and businessing result of quarter II and the first 6 months, deploying the task of the rest of year.
The US will lower tariffs on a batch of Chinese imports on 14 February, part of the phase-one trade agreement that the two countries signed earlier in the week.
China’s synthetic rubber market is expected to face tight supply in the first quarter of 2020 amid a slew of turnarounds for butadiene (BD) units in Asia.
The Vietnamese dong (VND) would average just slightly weaker by around 1 percent to VND23,475/USD in 2020 due mainly to an predicted decrease in foreign direct investment (FDI) inflows and higher imports.
The dong remained fairly stable against the U.S. dollar in 2019, contrary to the forecast that it would shed its value by 2-3%. That strength of the dong was ascribable to the economy’s stiffened resistance, and is expected to extend to 2020. Yet fluctuations in the world economy, if any, may still exert a negative impact on the local currency.
