VietNamNet Bridge - Vietnam is economically lagging behind other countries in the region and in the world. There is a big gap in GDP per capita between Vietnam and other countries, which makes it difficult for Vietnam to catch up with them. The core of the doi moi (renovation) in Vietnam is the shift from single-ownership into a multi-ownership economy, where the central planned regime no longer exists. The 1987 Law on Foreign Investment, the 1990 Corporate Law & the Law on Private Enterprises, and the 1999 Enterprise Law have encouraged the development of Vietnam’s private economic sector. One of the revolutionary viewpoints of the 1999 Enterprise Law was that ‘people can do anything that are not prohibited by the laws’, rather than ‘people can only do the things allowed by the laws’, which was one of the major reasons hindering economic development in many decades before. Soon after the Enterprise Law took effect, the then PM Phan Van Khai set … [Read more...] about Why does Vietnam lag behind?
Why remove popcorn ceiling
North Korea Minister of Foreign Affairs Ri Yong-ho said Pyongyang has brought forth a ‘practical offer’ at the second summit between its leader Kim Jong-un and U.S. President Donald Trump, in which North Korea only pursued the removal of parts of existing sanctions, not all of them. North Korea was suffering from 11 sanctions and only asked the U.S. to remove 5, said Ri. Pyongyang would give up on all productions of nuclear materials, including plotium and urania, as well as letting U.S. experts inspect the process if the U.S. agree to remove some sanctions that have affected North Korea’s economy and their people's lives, the conference heard. The U.S. has asked North Korea to take an extra step besides dismantling the Yongbyon nuclear complex, which indicated that the U.S. did not accept North Korea’s offer, said Ri. North Korea explains why no summit agreement reached Triều Tiên đang tổ chức họp báo There was no … [Read more...] about North Korea explains why no summit agreement reached – VnExpress International
Sebastian Eckardt, lead economist of the World Bank in Vietnam, has recommended the State Bank of Vietnam (SBV) to remove the credit growth quota set for each year and let the market determine the credit demand in the economy on its own, as the capital adequacy ratio (CAR) is not deemed sufficient. He advocated the abrogation of administrative measures limiting banks’ credit growth and supported the idea of controlling such growth by a safety ratio instead. However, he also warned about the high credit-to-GDP ratio in Vietnam. According to the ‘Taking stock: An update on Vietnam’s recent economic developments’ report released by the World Bank in December 2018, although local monetary policies remain accommodative, credit conditions have been tightened. The SBV trimmed its credit growth target to 17 per cent in 2018 from the 18 per cent set in the previous year. The monetary authority has also reinstated its view on controlling lending to high-risk sectors, … [Read more...] about Is it time to wave good bye to the credit growth ceiling?
The ceiling promotion rate of 20 per cent for pre-paid subscribers has cut telecom providers’ revenue. — Photo vtv.vn The Ministry of Information and Communications is considering a proposal from telecom providers to remove the ceiling promotion rate of 20 per cent for pre-paid subscribers. The ministry’s Department of Telecommunications said they were working with the Finance Ministry to consider the proposal of adjusting the rate from the current 20 per cent to 50 per cent. Previously, the ministry issued Circular 48/2017 which took effect on March 1, 2018 regulating mobile rates for mobile operators. Telecom providers in the country are only allowed to offer up to 20 per cent of a service’s value to pre-paid subscribers as a bonus during promotional campaigns. The maximum promotional value however has been set at 50 per cent for post-paid subscribers. The limit applies to different forms of promotion, including bonus credits, in-kind benefits, and other … [Read more...] about Ministry considers removing mobile phone promotion cap
Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?