The Government on December 7 issued a document on the socio-economic development in the country, asking all ministries, agencies and local authorities to carry out comprehensive measures in a determined manner to push growth and keep macro-economy at a steady pace. The State Bank of Vietnam has been asked to make efforts to develop supporting industries and economies, reduce interest rates on deposits and loans and help control high inflation. … [Read more...] about Government urges stable economic growth
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FIA unworried by FDI decline
The country has attracted nearly US$6.4 billion of newly-registered and additional FDI capital in the year to date, down 27.3% year-on-year, whereas the Government aims to lure US$15-17 billion of fresh FDI for the whole this year. However, FIA director Do Nhat Hoang said: "To achieve the target of raising FDI quality, we must accept registered capital decline in a short term. The more important things are disbursed capital volume and investment structure." Some US$840 million of FDI capital has been disbursed this month, taking the total amount of disbursed capital in Jan-Jun to US$5.4 billion, picking up 2% over the same period last year, show the data recently announced by FIA. … [Read more...] about FIA unworried by FDI decline
US group gets nod for $1.2 bln resort in Vietnam island
The US-based Rockingham Corporation has reached agreement in principle with Vietnam's southern Kien Giang province to lease land for a US$1.2 billion tourism complex on Phu Quoc Island. The province has agreed to make available 923 ha on the island but further details of the agreement are awaited. It will allot the land by next year. While awaiting central government clearance, the provincial authorities have told the Los Angeles-based company to go ahead with its planning for the complex. … [Read more...] about US group gets nod for $1.2 bln resort in Vietnam island
Profit taking puts brake on stocks’ consecutive gains
Profit taking Thursday put an end to the Ho Chi Minh Stock Exchange's VN-Index's mini-rally. After 11 consecutive gains, the benchmark index fell 6.32 points, or 1.14 percent, to close at 545.73. Among 150 index members, 132 fell while 10 gained. The gauge had risen 11 percent over 11 previous trading days, trimming the loss of the region's worst performing exchange this year to 41 percent. "The selling energy in the market has increased," said Fiachra MacCana, head of research at Ho Chi Minh City Securities Corp. … [Read more...] about Profit taking puts brake on stocks’ consecutive gains
Big projects launch in southern Dong Nai
Several projects worth more than US$1.2 billion in total broke ground in the southern Dong Nai Province, 28 km northeast of Ho Chi Minh City, this week. The ground-breaking ceremony for two new road projects in Dong Nai Province on Thursday … [Read more...] about Big projects launch in southern Dong Nai