Posts Tagged ‘ The stimulus ’

Recovery remains a bumpy road

January 23, 2010
Recovery remains a bumpy road

The Vietnamese economy is heading to a higher growth in 2010, but a lot of challenges are waiting ahead. As public investments keep on expanding, efficiency continues to raise questionsAs public investments keep on expanding, efficiency continues to raise questions Since Vietnam’s economic growth bottomed out at 3.1 per cent in the first quarter of [...]

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Lenders say new customers have hard access to loans

December 4, 2009
Lenders say new customers have hard access to loans

LookAtVietnam – Banks have said new customers will find it hard to obtain bank loans as they have difficulty mobilizing funds from the public despite higher interest rates. Nguyen Quoc Sy, deputy general director of Western Commercial Bank, said his bank had been unable to lure as much capital from the public as expected and [...]

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Vietnam to withdraw stimulus earlier than expected

December 3, 2009
Vietnam to withdraw stimulus earlier than expected

LookAtVietnam – Vietnam’s Government said on Tuesday it would stop stimulus in the year-end, three months earlier than expected, citing rapid credit growth as a key reason. The Government keeps subsidizing loans extended to farmers and rural areas as well as medium- and long-term bank loans, but the level of subsidization will be reviewed.This is [...]

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Stimulus package exacts its toll

November 13, 2009
Stimulus package exacts its toll

The government’s stimulus package has come with a cost as inflation has recently been on the rise again. While it has staved off the worst impacts of the global crisis, Vietnam needs to phase out government stimulus, says IMF Senior Resident Representative Benedict Bingham. Thanh Nien: How has the stimulus package contributed to Vietnam’s economic [...]

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G20 reluctant to remove stimulus, differs on climate change financing

November 10, 2009
G20 reluctant to remove stimulus, differs on climate change financing

It is still too early to remove stimulus, and climate change financing remains the key to success of the Copenhagen conference, the G20 finance ministers and bank governors said Saturday. Britain’s Prime Minister Gordon Brown (L) talks to the Chairman of the U.S. Federal Reserve Ben Bernanke (back to camera), U.S. Treasury Secretary Timothy Geithner [...]

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Turning negatives into positives

October 31, 2009
Turning negatives into positives

LookAtVietnam – Vietnam has fortified its economy in 2009 through effective economic stimulus measures and is looking at some ambitious socio-economic targets for 2010. Many enterprises have prospered during the global economic downturn, while many regional competitors have struggledMany enterprises have prospered during the global economic downturn, while many regional competitors have struggled This year [...]

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More stimulus: Who’s for, who’s against?

October 28, 2009
More stimulus: Who’s for, who’s against?

LookAtVietnam – Sentiment on whether to extend the stimulus in some way seems about evenly divided.  We survey recent opinions. The 2009 stimulus package, valued at $8 billion in additional spending, featured tax exemptions, reductions and deferments for businesses, increased bond sales, and an interest rate subsidy program. It is widely credited with enabling Vietnam to [...]

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Some say subsidized loans missed firms that needed them most

October 20, 2009
Some say subsidized loans missed firms that needed them most

LookAtVietnam – Small enterprises have found it hard to obtain preferential loans. That’s why economists don’t support second demand stimulus package. High on the agenda of the National Assembly session that opened on October 20 is whether or not to the government’s economic stimulus package, implemented this year as a counter-recession measure, ought to be extended.  Over [...]

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Stimulus packages drive recovery of trade, industry sector: officials

October 15, 2009
Stimulus packages drive recovery of trade, industry sector: officials

The industry and trade sector has recovered with an average monthly increase of 10 per cent since July as a result of the Government’s economic stimulus packages. Workers at the Viet Nam Garment Group’s Phong Phu Company. Sales of garments and textiles have risen 18 per cent in the last nine months.They said the sector [...]

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Economy not secure, needs new stimulus

October 10, 2009
Economy not secure, needs new stimulus

A second stimulus package that is smaller in scale and more focused than the first is required to sustain Vietnam’s still fragile recovery from the economic crisis. Nguyen Huu Canh Street in HCMC cost VND419 billion to build but it has been plagued by flooding since it opened in 2002The global economy is showing signs [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...