Adb: policy tightening will lower inflation

In its Asian Development Outlook 2011 Update (ADO Update), the ADB said Resolution 11, a comprehensive policy package, has made good initial progress by helping the exchange rate to stabilise, allowing foreign reserves to be replenished, and lowering monthly inflation outcomes during June – August.

Tighter spending helps curb inflation

The report was launched by the Asian Development Bank (ADB) in Ha Noi yesterday. Bank country director for Viet Nam Tomoyuki Kimura said being faced with double-digit inflation, dwindling foreign reserves and a weakening currency, the Government’s Resolution 11, adopted in February this year, was a comprehensive policy package of fiscal and monetary tightening measures to curb inflation. Progress has been made but year-on-year inflation remained at more than 20 per cent, Kimura.

Vietnam borrows $75m from ADB to upgrade traffic system

Previously, under the authorization of the Prime Minister, on February 23, 2011 in Hanoi, the State Bank of Vietnam (SBV)’s governor, Nguyen Van Giau, signed the loan agreement on the aforementioned project with representatives of Asian Development Bank (ADB) in Vietnam.

ASEAN+3 eye higher, more strategic financial ties

During the one-day meeting, the ministers exchanged views on recent global and regional economic development and policy management, and reviewed progress of the regional financial cooperation since their last meeting, including the Chiang Mai Initiative Multilateralisation (CMIM), the Asian Bond Markets Initiative (ABMI) and the ASEAN+3 Research Group.

Vietnam sees need for more staff in health care

With an aim of increasing equality in the health care services in Asian countries by renewing personnel training, speeches delivered at the conference focused on analysing national plans on human resource development and orientations for the renovation. The participants also took the occasion to share their countries’ experience in this field.

Break news

Viet Nam to compete in 10th Asian Individual Chess Champs - VN martial artists to attend World Taekwondo tourney - VFF appoints new coach for national men's U-16 team - Top national striker Tran Thi Kim Hong sidelined with injury.

Asia’s $1 trillion infrastructure opportunity

Traditionally, most Asian infrastructure projects have been funded by governments or domestic banks. Foreign investors were mostly excluded. Those that were allowed to participate faced severe restrictions, including complex regulatory and legal regimes, uneven workforce quality, and occasional political interference. In the wake of the financial crisis, however, we have started to see signs that global private capital is increasingly welcome. The combined effects of increased stimulus spending and reduced tax receipts have increased deficits, with the result that restrictions on foreign investment are easing and a growing number of projects are being carried out under public–private partnerships (PPP). We estimate that over the next ten years fully $1 trillion of the $8 trillion of projected infrastructure projects will be open to private investors under PPPs. The questions for owners of global capital are how to identify the opportunities, how to mitigate the main risks, and how to develop appropriate entry strategies.

Policies aim to slow growth, control inflation

The Viet Nam country director of the Asian Development Bank (ADB), Ayumi Konishi, spoke to Viet Nam News reporter Ha Phuong about the impact of the measures so far.

Premier Oil fields in Indonesia, Vietnam to begin output soon

Asian gas and oil markets represent a major portion of Premier’s future growth potential to 75,000 barrels of oil equivalent per day in 2010 from 42,800 last year, said Robin Allan, the firm’s Asia director, at an industry conference in Singapore.

Piaggio picks Vietnam as Vespa’s Asian R&D centre

The R&D centre complements the group’s manufacturing investment in the country. Since beginning local production in June 2009, Piaggio has sold more than 100,000 scooters in the Asian market.

Van Ngoc Tu wins first medal for Vietnam at Asian Judo Champs

Tu, the defending champion of Southeast Asia, won the first medal for Vietnam after defeating strong rivals, Devi Khumujarn Tombi from India and Alexandra Podryarova from Kazakhstan, in the under 49-kg category on April 5.

First Inclusive Business Investment Forum held in Vietnam

The Ministry of Planning and Investment (MPI), the Asian Development Bank and the Netherlands development organization (SNV) organized the forum jointly. The event aimed to discuss possible investment opportunities, promote an exchange between companies interested in “Inclusive Business (IB)” and possible financial institutions and set up the Inclusive Business Fund in Vietnam.

Hanoi hosts science meeting with Asian theme

As many as 100 scientists from several major universities across Asia gathered in Hanoi on March 2 for a meeting on sustainable sciences.

National cycling team to join Asian champs

The team includes 8 veteran and four young cyclists. The event will be held from February 14-19.

Park to play in VN charity match

Park, who played a key role in South Korea's World Cup 2010 campaign, also introduced his JS Foundation that focuses on charitable activities in Southeast Asia on Wednesday. Park said goodbye to the national team in January after winning his 100th cap in a match against Japan during the Asian Cup.

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