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 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 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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December 23, 2011
The Politburo, Vietnam’s Communist Party decision making body, aims to create a “fair business environment” for entrepreneurs in the country as it recognizes their importance in the economy, according to a resolution on the government’s website. The nation will make socio-economic development plans public and “transparent” to help reduce business risks for entrepreneurs, according [...]
Tags: Business, Communist Party, economic, entrepreneurs, In The Economy, Ldquo, Politburo, Rdquo, The country, The economy, The Nation, The Politburo, Vietnam
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November 26, 2011
A woman pulls shopping carts through the aisle of a Target store on the shopping day dubbed “Black Friday” in Torrington, Connecticut November 25, 2011. Retailers were hoping for more shoppers like Shawn Elzia as the annual Black Friday bargain stampede marked the unofficial start of what is widely expected to be a middling [...]
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November 15, 2011
 Several economists are saying the government should not commit itself to any gross domestic product target, adding economic growth cannot be a forced process. Vietnam should just follow other countries and release regular economic forecasts instead, they suggest. Vu Quang Viet, who has worked with the United Nations Statistical Division, said GDP growth [...]
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November 14, 2011
Workers at a ship yard of the Vietnam Shipbuilding Industry Group, or Vinashin. Many in Vietnam hope the government will pursue reforms that are broad enough and deep enough to fix debt-ridden state banks and rein in inefficient state enterprises (SOEs) such as Vinashin, which embarrassingly defaulted last year. After four years of economic instability, [...]
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November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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November 9, 2011
Vietnamese lawmakers backed a plan that aims for annual economic growth of as much as 7 percent through 2015 and seeks to quell Asia’s highest inflation. The National Assembly approved an objective of 6.5 percent to 7 percent annual economic expansion from 2011 to 2015 and a goal of reducing inflation to 5 percent [...]
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