​Vietnam's foreign exchange reserves above $60 billion: prime minister

HANOI - Vietnam’s foreign exchange reserves have exceeded $60 billion, Prime Minister Nguyen Xuan Phuc said on Friday.

The amount appears to be a record high. Foreign exchange reserves of the Southeast Asian country have been growing steadily in recent years, backed by robust exports.

The government reported a trade surplus of $1.3 billion for the first quarter of 2018.

“We are trying to improve Vietnam’s business environment, aiming to make it one of the most favorable and competitive among ASEAN countries,” Phuc said in a speech to a Greater Mekong Subregion Summit in Hanoi.

The prime minister reiterated that the government intends to cut the corporate income tax rate to 15-17 percent from 20-22 percent.