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.

HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale

“VietinBank has made a good choice of advisers,” said Alan Pham, chief economist at VinaCapital Investment Management Ltd. HSBC has a depth of expertise and wide distribution network globally that will help get the Hanoi-based bank a “good rate,” he said.

Vietnam govt to service debt for troubled cement projects

On Wednesday, state-backed newspaper Tuoi Tre said Dong Banh Cement Joint Stock Co, a subsidiary of state-owned Song Da Group, was asking the government for help in paying $3.4 million back to ANZ.

Calm heads prevail as the forex market to remain cool

Last week, the central bank decided to increase the reserve requirement ratio by 1 per cent to 8 per cent for foreign currency deposits less than 12 months and to 6 per cent for foreign currency deposits over 12 months.

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.

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.

Vietnam’s dong has best week since 1997 after dollar rates curb

The State Bank of Vietnam set a ceiling on dollar deposit rates on April 13, restricting interest payments for individuals to 3 percent and those for non-credit institutions to 1 percent. Holdings of dong can attract returns of as much as 14 percent.

Vietnam tightens control over state-bank partnership

“The government wants to protect state assets because state-run banks have huge assets, many of which are not profitable now,” a Vietnamese analyst was quoted by Reuters.

Foreign investors list problems in Vietnam

“There is a big difference between what the regulations state and their actual implementation, hindering investors’ plans,” Han Jae Jin, chairman of the Korean Chamber of Commerce’s foreign affairs board, said.

Foreign invested enterprises complain about customs procedures

Arepresentative from Amcham, said at the workshop on the investment environment improvement workshop held in HCM City on April 26, that enterprises not only have to spend money, but also a lot of time to fulfill customs procedures. It takes exporters three or four days on average to get customs clearance. Especially, it would be a big trouble to enterprises, if they export perishable products and they have to wait for customs procedures.

Vietnam freight transport q1 2011 – road building and road usage are both expanding strongly

Business Monitor International’s Vietnam Freight Transport Report provides industry professionals and strategists, corporate analysts, freight transportation associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam’s freight transportation industry.

High inflation may force Vietnam to tighten policy

Vietnam, which last year pushed for strong growth, now is battling some of the highest inflation in Asia. In February, the government devalued the dong 8.5 percent and it has taken other steps, but so far inflation rates have continued to rise.For April, the consumer price index rose 3.32 percent from March, the highest since May 2008, the General Statistics Office said on Sunday. The annual inflation in April – 17.51 percent – was the highest for the past 27 months.

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.

Product piracy damaging economy

Those who engage in violations as well as those who support them by buying counterfeit products should know that they harm the economy, businesses as well as a majority of the consumers, they said.

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