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BINH DINH – The central province of Binh Dinh would accelerate information transparency and organise frequent dialogues with enterprises to help them address challenges they faced in business in order to raise its provincial competitiveness index (PCI), said the provincial People's Committee chairman, Le Huu Loc. The province dropped eighteen...
Posted date: Sat, 19 May 2012 - From: Economy News
QUANG NGAI – Two projects have been licensed to build wharves in the Dung Quat Economic Zone, a key destination for foreign direct investment in central Viet Nam. Total investment capital include more than VND1.4 trillion (US$67.4 million). Licenses will remain operational for 49 years since the day of granting. The first wharf will be...
Posted date: Sat, 19 May 2012 - From: Economy News
HA NOI — Viet Nam National Chemical Group (Vinachem) plans to reach an average growth rate of 14.5 per cent per year to meet domestic fertilizer demand by 2015. According to the group's five-year plan, recently approved by the Prime Minister, Vinachem will become a national leader in the production of everyday chemicals and chemical products...
Posted date: Thu, 17 May 2012 - From: Economy News
Vietnam’s May 2012 consumer price index (CPI) is forecast to accelerate to +0.15% increase from April 2012, analysts with the local news provider NDH Money forecast. The forecast is based on Leontief and ARIMA models. If the forecast comes true, Vietnam’s May CPI will records the lowest on-month rise level compared with May since 2004,...
Posted date: Tue, 15 May 2012 - From: Economy News
The nation’s inflation rate in the second quarter will ease to 10.9 per cent, before dipping back into single-digit territory in the third and fourth quarters, Standard Chartered Bank has forecast. Inflation in March fell to 14.1 per cent from a peak of 23 per cent last August, the bank noted. Moderated inflationary pressures, coupled with...
Posted date: Tue, 15 May 2012 - From: Economy News
At the 8th session of the 13th Standing Committee meeting of the National Assembly in Hanoi on May 5, it was discussed that even though public investment funding on construction projects had increased, he results were far from effective. Vietnam is planning on restructuring its economy, which will include cutting down on public investment...
Posted date: Fri, 11 May 2012 - From: Economy News
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) forecasts that Vietnam can expand its economy by 5.8% this year, compared to the government’s target of 6.0-6.5%, the state-run online newspaper Vietnam Plus reported. In 4M/2012, the country’s macroeconomic conditions were improved, ESCAP said in its latest...
Posted date: Fri, 11 May 2012 - From: Economy News
HCM CITY — Vietnamese firms should study the market and act fast to take advantage of trade and investment opportunities in Myanmar as it opens its doors wider to foreign investors, experts said at a conference yesterday. Dam Trung Bac, honorary consul general of Myanmar in HCM City, said that after the US and EU lifted sanctions on Myanmar,...
Posted date: Wed, 09 May 2012 - From: Economy News
HCM CITY — HSBC Viet Nam yesterday released for the first time its April Viet Nam Manufacturing Purchasing Managers' Index (PMI), which said the index slightly declined to 49.5 in April from 50 in March, and the figure signalled that overall business conditions worsened slightly. The index has been compiled for HSBC by Markit, a global...
Posted date: Wed, 09 May 2012 - From: Economy News
HCM CITY —The Prime Minister has approved the Viet Nam Rubber Group's 2011-2015 business plan, which calls for an annual increase in turnover by 15 per cent and before-tax profits of 22 per cent a year. If the plan's expectations are met, the group would likely contribute an annual estimate of VND3,500 billion (US$168 million) to the State's...
Posted date: Wed, 09 May 2012 - From: Economy News
The fundamental flaws of Vietnam’s economy, as reflected in measures of productivity and efficiency, arise mainly from institutional shortcomings. Without structural changes, it would be impossible to make the allocation of resources in the economy more efficacious. After almost five months of preparation, the Government’s plan, which seeks...
Posted date: Tue, 08 May 2012 - From: Economy News
Japanese economists shared experiences with Vietnamese partners at a seminar on ‘Economic Bubbles: Lessons Learnt from Japan’, held in Hanoi on May 5. A “bubble economy” is one in which a lot of trade takes place with discrepancies between the trading price and the intrinsic value of products. When the prices of assets, such as stocks...
Posted date: Tue, 08 May 2012 - From: Economy News
The number of jobs created last quarter was higher than expected; due to the Governments policies to bolster certain sectors, said Dang Quang Dieu, Director of Vietnam General Confederation of Labour’s Institute of Workers and Trade Union. Dieu predicted that the second quarter will be difficult for many enterprises. “However, because the...
Posted date: Mon, 07 May 2012 - From: Economy News
Continued high inventory levels and low industrial production growth are threatening the government’s economic growth target. Firms’ high inventory levels and negative credit growth are symptoms of economic stagnancy The Ministry of Planning and Investment (MPI) last week reported that Vietnam’s inventory level in this year’s first...
Posted date: Mon, 07 May 2012 - From: Economy News
HSBC Vietnam has adjusted down Vietnam growth forecast from 5.7% to 5.1% for this year, as the credit crunch is occurring faster than expected, says the bank’s macroeconomic report announced last Thursday. Like other countries in the region, Vietnam’s economic growth has been led by credit over the last ten years, resulting in an average...
Posted date: Mon, 07 May 2012 - From: Economy News