Chronic shortcomings in Vietnam economy yet to be tackledThuy Dung One of current problems is the increasing number of complaints about land use and management policies - PHOTO: DINH DUNG HANOI – Despite positive results in socio-economic development, National Assembly (NA) deputies have pointed out chronic shortcomings in the local economy, especially those related to land, regulations, capital disbursement and business conditions, which must be remedied if the economy is to sustain growth. Such issues were tabled at a NA meeting on May 25 on the nation’s socio-economic performance and the State budget-related problems last year and in the first months of this year. Deputy Vu Tien Loc from the northern province of Thai Binh nevertheless said the country has kept public debts from rising and replenished the State budget by using one-off revenues from public land and asset sales, and sales of stakes in State-owned enterprises. When these sources dry up, the Ministry … [Read more...] about Chronic shortcomings in Vietnam economy yet to be tackled
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Japan capital stimulates Vietnam economy
Japan capital stimulates Vietnam economyTrung Chanh Delegates at the “Meeting Japan-Mekong Delta” conference in Can Tho City on April 18 - PHOTO: TRUNG CHANH CAN THO – Grants and official development assistance (ODA) loans of the Japanese Government have played a crucial role in fueling Vietnam’s economic development, especially in the Mekong Delta, heard a conference in Can Tho City on April 18. At the conference “Meeting Japan-the Mekong Delta,” Luu Quang Khanh, director of the Foreign Economic Relations Department under the Ministry of Planning and Investment, expressed appreciation of Japan’s support for the Mekong Delta and Vietnam as a whole. The Japanese Government has offered Vietnam grants totaling US$1.6 billion for healthcare, customs, agriculture and rural development projects, with Bach Mai Hospital, Hue Central Hospital and fresh water supply projects among the beneficiaries. Japan has also pledged to provide Vietnam … [Read more...] about Japan capital stimulates Vietnam economy
Vietnam economy seen expanding 6.83% in 2018
Vietnam economy seen expanding 6.83% in 2018The Saigon Times Daily Discounted travel bags are on sale at a booth of a local company at a trade fair. Inflation in quarter one rose slightly compared with previous quarters, largely influenced by upward adjustments of public services fees such as healthcare and education - PHOTO: THANH HOA HCMC – Vietnam’s gross domestic product (GDP) growth is forecast to reach 6.83% this year, the Vietnam Institute for Economic and Policy Research (VEPR) is quoted by news website Nguoi Dong Hanh as saying. Given the strong growth of 7.38% in quarter one, VEPR says the 2018 growth target of 6.5-6.7% approved by the National Assembly (NA) could be achievable thanks to a host of favorable conditions. However, there remain uncertainties such as growing protectionism in global trade and a possible trade war between the United States and China, the world’s two biggest economies. VEPR expects the 2018 growth model will be different … [Read more...] about Vietnam economy seen expanding 6.83% in 2018
Vietnam economy runs on loans: economist
VietNamNet Bridge - Tran Du Lich, a respected economist, said at a recent annual workshop on the economy that there are two risks for Vietnam – the middle-income trap, and the risk of growing older (working-age population) before becoming rich. Mr Tran Du Lich In order to avoid the risks, the country will have to gain high and stable economic growth rates over the next several decades. The economy is running on the basis of borrowing: the state borrows money from the public through bond issuance, while enterprises borrow money from banks. Regarding the interest rate policy, Lich commented that the economy is running on the basis of borrowing: the state borrows money from the public through bond issuance, while enterprises borrow money from banks. RELATED NEWS Gov’t targets 6.7% 2018 GDP growth GDP grows sharply as economy relies on foreign-invested enterprises Thanh Mai … [Read more...] about Vietnam economy runs on loans: economist
Vietnam economy grows at best rate in a decade
Vietnam's economy saw its strongest first-quarter growth in a decade, data showed on Thursday (Mar 29), driven by a surge in electronics manufacturing and exports. While agriculture and wholesale and retail trade have seen steady rises, manufacturing remains a the pillar of Vietnam's growth. (Photo: AFP/Hoang Dinh Nam) The reading comes as the communist country is poised to expand its overseas markets after signing an 11-nation Asia-Pacific trade deal this month that replaces the Trans-Pacific Partnership (TPP), scrapped by the US last year. Observers said a spike in exports was a promising sign that Vietnam's market has not been dented by US President Donald Trump's protectionist agenda. The 7.38 per cent GDP expansion in January-March was sharply up from the rate of just over five per cent seen in the same period last year, according to the Government Statistics Office, and well above the government's annual target of 6.7 per cent. The figures are the best since a 7.40 per … [Read more...] about Vietnam economy grows at best rate in a decade