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.

Interest rates are set to head South

Vietnam’s consumer price index (CPI) for August was up only 0.93 per cent on-month, the lowest rise this year. August was also the first month the CPI rose under 1 per cent, signaling a slowdown in price rises as tightening monetary policies begin to bite.

New rules for firms in fuel trade

As part of the new policies, fuel-trading activities between licensed traders and producers will be required to operate in accordance with General Department of Customs procedures.

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.

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.

New decree on labelling to promote energy conservation

Producers and importers must register for certification to affix energy labels within 60 working days of the effective date of the regulation. The decree also requires major energy users to apply energy management systems under which they must promulgate energy efficiency and conservation policies and targets; conduct energy audits; and assign staff and propose managerial and technological solutions to promote energy efficiency and conservation.

HCM City hosts seminar on attracting foreign investment

Over the past 20 years Ho Chi Minh City has led the country in foreign investment thanks to its policies to improve the investment environment.

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.

Vietnam should stick with tight monetary policy: economists

Le Xuan Nghia, deputy chairman of the National Financial Supervisory Commission said, inflation may slow in May, when the government’s monetary policies start taking effect.

Exchange rate adjustment and tightening monetary policies major issues of Q1

Resolution 11/NQ-CP dated February 24, 2011 has clearly shown the political determination in the fight against macro instability. This resolution demonstrates drastic and powerful moves, in which growth target is entirely eliminated from the top targets in 2011. Six groups of synchronous measures are pointed out, in which the most important point is to carry out tightening monetary and fiscal policies.

Nation urged to draft housing strategy

The meeting, chaired by deputy Prime Minister Hoang Trung Hai and the steering committee of housing and real estate policies, aims to collect information and ideas on how to draft the plan.

Banks’ dividend incomparable with saving rates

As for TrustBank, despite facing the tightening of monetary policies during the last half of 2010, the lender still posted a good performance with a dividend of 8.5% (passed by its annual shareholder conference on March 28). The dividend is relatively high, but in the current situation, its Chairman Hoang Van Toan expected the sharing from shareholders. In 2011, TrustBank plans to pay a dividend of 9%, 0.5% higher than 2010’s actualized level.

Experts explore potential products for securities market

At the meeting held by the State Securities Commission of Viet Nam (SSC), Nguyen Thanh Ky, general secretary of Viet Nam Association of Securities Business suggested that Ministry of Finance (MoF) and SSC should consider policies to help create more new products for the stock market. Suggestions include allowing an investor to sell and trade shares during the same session while being able to open more than transaction account at different securities firms.

AEM Retreat wraps up in Laos

The officials shared the view that ASEAN is facing challenges due to a lack of legal regulations for many regional integration commitments and lower than expected harmonisation of policies among ASEAN members. Especially, in the 2010-2011 period of the 104 measures to be completed in the AEC roadmap, 60 percent of them have been left to be done in 2011.

Real estate market in 2011 to depend much on government policies: Experts

In 2011, experts forecast that the property market would entirely depend on the government’s policies applied to curb price increases and seek capital sources for the market. According to Prof Dr Dang Hung Vo, there would be two main scenarios for property market in 2011.

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