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Vietnam Insurance Market: Keeping Double-digit Growth

The Vietnamese insurance market is being competed by both domestic and international insurers and is hurt by economic challenges. Hence, insurers are forecast to face difficulties in funds and premiums. Optimistically, insurers reported revenues growth of 10-15 percent in the first eight months.

Economic crisis hits leather, shoe exports

The industry currently faces many challenges, ranging from macroeconomic policies and trade barriers to the world market, in hitting its export targets while continuing to develop. Nguyen Thi Tong, general secretary of the Viet Nam Leather and Footwear Association, spoke about these issues.

Further fiscal & monetary tightening in coming months

The Vietnamese authorities deserve our applause for facing up to tough economic issues. Today’s rate hike was just another step in the long battle against inflation. Although the policy stance has clearly shifted from boosting growth to improving economic stability since February, the data flow remains challenging.

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.

Can Vietnam contain inflation and achieve development goals?

Kenichi Ohno, an economic expert from Japan, proposed a number of measures, including developing practical industrial and financial policies, to deal with inflation and maintain growth rate. However, this remains a challenge for Vietnam, which was still considered as a low middle income country in 2008, despite having abundant human resources and holding a strategic position in the region.

Hong Kong-invested GreenFeed puts Dong Nai factory online

The new facility covers three hectares in Song May Industrial Park in Trang Bom District. The designed capacity for the beginning is 120,000 tons of products per year. The factory is just 15 kilometers north of Bien Hoa, the industrial city nearest to Ho Chi Minh City – the country’s biggest southern economic hub.

IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011

According to IMF’s regional economic outlook, Vietnam has overcome the global crisis thanks to the substantial financial stimulus package worth 5 percent of its GDP and monetary easing policies. The IMF commented that Vietnam is of the fastest growing economies in Asia. In 2010, Vietnam posted a growth of 6.8 percent thanks to demand for both domestic and international growth. However, the expansion policy adopted during the crisis also has increased macroeconomic risks.

Experts call for austerity measures

Latest figures from the Ministry of Planning and Investment show 30 ministries and central agencies, 63 provinces and cities, and 12 economic groups and state-run corporations have pledged to put off 1,387 projects worth VND3.4 trillion.

Cathay climbs with local aviation scene

It is undeniable that Vietnam is of the fastest and largest growing aviation markets in South East Asia and the world. With good government support, economic and infrastructure development, its aviation has gone a long way to reach today’s standards. The continued growth of the Vietnamese economy, people’s increasing purchasing power and desire to travel are obviously vital elements for Vietnam’s aviation to grow in significance.

Prices likely to climb another 2 percent in May

Inflation will continue to be high for the near future due to impacts of economic and policy factors on the domestic economy, including the deregulation of electricity rates (slated to begin fluctuating under free market rules in June) and a minimum wage increase in May, said former State Bank of Vietnam Governor Cao Sy Kiem. The current bout of high inflation was ignited when the Vietnam dong was devalued by 9.3 percent against the US dollar in February, followed by hikes in petrol costs and electricity rates in March. Inflation was also spreading globally, especially in Asia, exerting great pressure on the Vietnamese economy.

Mid-term CG meeting to take place in June

The mid-term CG meeting provides a forum for the Vietnamese government and international donors to review the country’s socio economic development and assess the progress of Vietnam’s commitments from the previous meeting and measures to improve the efficiency in using Official Development Assistance (ODA) resources.

Mekong Expo 2011 opens in Can Tho Province

Businesses from the Mekong Delta provinces, Ho Chi Minh City, Tay Ninh, Lam Dong, Khanh Hoa, Dong Nai and Da Nang participated in the expo. The expo highlighted the economic achievements and the specialities of each province and city, as well as displayed the fine arts, handicrafts, machinery, technology, foods and various equipments of the regions.

VN Business Summit opens in HN

It is estimated that Việt Nam needs about US $300 billion for investment development within 2010-2015. Therefore, the innovation in business environment, growth model transforming, synchronous development of labor, science-technology markets toward liberation of trade and investment will be prioritized. The Deputy PM also re-affirmed the Vietnamese Government’s consistent policy to pursue economic reform, active integration, stable trade and investment ties with foreign partners.

Prime Minister orders to tame 2011 inflation at 12-13%, GDP at above 6%

WB said on the East Asia and Pacific Economic Update report on March 21 that Vietnam is taking important step in the right direction after the recent policy on stabilizing the country’s macro economics. WB forecast that Vietnam real GDP will slow down to 6.3% this year from 6.8% in 2010 due to tighten policy while inflation will stand at a single digit of 9.5%.

Mekong Delta Economic Cooperation Forum to start in July

This year’s forum, themed “the Mekong Delta-Connectivity for Sustainable Development”, will focus on working out effective measures to boost the regional economic connectivity.


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