January 21, 2012
The Asia Development Bank (ADB) on Tuesday signed a US$24.8 million support agreement to foster Vietnam’s "inclusive growth" and thus aid further poverty reduction in the country, the bank said in a press release. Through the support agreement, ADB will provide parallel financing to the Poverty Reduction Support Credit framework supported by a number of development [...]
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Posted in Politics | Comments Off
January 20, 2012
Many banks in Vietnam fear that bad debts could rise this year. Many banks in Vietnam say dealing with bad debts rather than credit growth is going to be a priority task for 2012. According to the Dau Tu (Investment) newspaper, even large banks in the country fear that bad debts could rise this year. State-owned Bank [...]
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January 17, 2012
Food retail sales in Ho Chi Minh City witnessed “skyrocketing growth” in recent year, a report said Despite economic difficulties the retail market in Ho Chi Minh City expanded last year as top retailers and brands continued to come in, property consultant Knight Frank said in a new report. The retail sales value of goods [...]
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Posted in Business | Comments Off
January 15, 2012
A woman fans coals to heat up a cooker on the railway track in downtown Hanoi. When investment decisions are made based on corruption, it is not only the honest firms that suffer, but also the public through lower quality and higher cost works. As Vietnam sits on the cusp of becoming a middle income [...]
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Posted in Life in Vietnam | Comments Off
January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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January 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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Posted in Business | Comments Off
January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
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Posted in Reports | Comments Off
January 3, 2012
A street vendor walks past a Chanel SA store inside the Rex Hotel in downtown Ho Chi Minh City, Vietnam, on Tuesday, Dec. 27, 2011. Vietnam’s growth held near 6 percent this quarter, reducing the pressure for further monetary tightening after higher interest rates limited the boost to the economy from exports and domestic consumption. [...]
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Posted in Business | Comments Off
January 2, 2012
Despite the tough economic climate, many foreign companies are continuing to expand operations in Vietnam in hope that their strategy will pay off when the recovery happens. BlueScope Buildings Vietnam, formerly known as BlueScope Lysaght Vietnam, inaugurated a US$4 million steel plant in Hanoi two weeks ago. The plant, located in the Quang Minh [...]
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Posted in Business | Comments Off
January 2, 2012
Vietnam will find it difficult to sustain into the new year the trade deficit reduction that it managed in 2011, given that it plans to reduce import tariffs on many products and that the ongoing global recession could hurt its exports, experts say. Vietnam’s trade deficit narrowed to US$9.5 billion from $12.4 billion in [...]
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Posted in Business | Comments Off
