January 25, 2012
State-owned shipbuilder Vinashin almost collapsed under debts amounting to US$4.5 billion. Vietnam’s Prime Minister Nguyen Tan Dung told state-owned companies to submit restructuring plans, stepping up a drive to bolster the economy by raising efficiency and competitiveness. Detailed proposals involving steps such as selling stakes to private investors and disposing of non-core businesses must be [...]
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January 25, 2012
Consumer demand for holiday goods and transportation will grow 10 percent from last year, according to a government forecast that urged authorities to monitor and stabilize prices. Asia’s fastest inflation is the last thing on Tran Hang’s mind as she jostles fellow shoppers at a street stall in Hanoi’s Old Quarter to snap up [...]
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January 23, 2012
Vietnam’s benchmark stock index on January 19 rose the most in seven months and the currency rallied to a one-month high on speculation the central bank will cut interest rates and limit declines in the dong. The Ho Chi Minh City Stock Exchange’s VN Index climbed 3 percent to 373.43 at the 11 a.m. [...]
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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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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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January 8, 2012
A clothes shop offers discount of 50 percent in Hanoi. Vietnamese consumers like to purchase products on sale, a survey has found. All major retailers have been offering attractive discounts to encourage recession-wary shoppers to loosen their purse strings for the festive season, and the initial response has been positive. The discount sales began prior [...]
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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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January 3, 2012
Vietnam’s trade deficit narrowed sharply to $9.5 billion in 2011, the lowest level in a decade, government estimates showed Wednesday, though concerns over the country’s economic stability remain. Exports rose 33.3 percent year-on-year to $96.2 billion, while imports were up 24.7 percent to $105.7 billion, the General Statistics Office (GSO) said in a preliminary [...]
Tags: billion, Country, deficit, exports, Exports Rose, goods, Government, inflation, percent, Percent year, The country, The Trade, The Trade Deficit, trade, Trade deficit, Vietnam
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December 30, 2011
Strong small banks should be allowed greater lending growth A local commercial bank’s employee counts money next to piles of dong notes in Hanoi on Monday The application of different credit caps on different banks based on their operational capacity is expected to correct a situation where banks with customers cannot offer loans while [...]
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