Deputy Prime Minister Vuong Dinh Hue speaks at a forum held in Ha Noi on Tuesday. — Photo petrotimes.vn The Government of Viet Nam persistently pursues the policy of comprehensive integration, with a focus on international economic integration in a proactive, pragmatic and politic manner, Deputy Prime Minister Vuong Dinh Hue said at a forum held in Ha Noi on Tuesday. Hue said "Trade protectionism is now on the rise and seriously threatening the process of liberalisation and global economic integration. "The wider and deeper integration into the global economy means Viet Nam will face more impact from regional and global economic development trends, and that is why the country needs a proactive and flexible approach to cope with this issue," he added. Sudhir Shetty, Chief Economist for the East Asia and Pacific Region of the World Bank shared the ideas, saying that as a highly open economy and major trading partner of both the US and China, Viet Nam would be affected but these … [Read more...] about VN proactively integrates into global economy: Deputy PM
Viet Nam News HCM CITY – With Việt Nam signing many multilateral and bilateral trade agreements and attracting more and more foreign investment, it is hard to avoid grievances and disputes, a workshop heard in HCM City yesterday (June 22). Speaking at “Preventing and minimising international investor grievances and disputes,” Deputy Minister of Planning and Investment Vũ Đại Thắng said most foreign investors’complaints relate to issues like land lease, licence issuance, relocation of land owners, exploitation of natural resources, and environmental impacts. The number of grievances and disputes has increased recently and they are also becoming increasingly complex, he added. One of the country’s most attractive destinations for foreign investment, HCM City faces challenges in settling complaints and disputes involving foreign investors, according to Lê Thị Quỳnh Mai, deputy director of the city Department of … [Read more...] about VN aims to resolve investor disputes with Gov’t
The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) Agreement will be vital deal to expanding free trade and ensuring sustainable development in Viet Nam, said Minister of Industry and Trade (MoIT) Tran Tuan Anh. Therefore, economic sectors should take the initiative in economic restructuring in order to maximise the benefits of the pact, which was scheduled to be inked in Chile on Thursday (local time) by ministers from its 11 member countries, Anh told the Vietnam News Agency. The minister said such sectors as garment-textiles, footwear, food processing, beverage, confectionery, tobacco and wine and beer will benefit most from the deal. He cited a study jointly conducted by the World Bank (WB) and the research institute under the Ministry of Planning and Investment as saying that Viet Nam’s GDP would be 1.1 per cent higher than otherwise expected in 2030 thanks to the CPTPP. Like other member economies, Viet Nam has committed to market opening and trade … [Read more...] about CPTPP vital to VN economic reforms: minister
Sell-off deals VN-Index harsh blows (07-10-2008) An investor watches helplessly at VCB Securities as the VN-Index plunged 18.43 points to close at 433.71 yesterday. — VNS Photo Viet Thanh HA NOI — Massive sell-offs deepened share prices yesterday amid continuing uncertainty on world financial markets. The VN-Index dropped down 18.43 points or 4.08 per cent to close at 433.71. Liquidity remained low, as trading volume increased slightly to 13.95 million shares for a total value of nearly VND490 billion (US$29.7 million). Massive sales were seen for almost all codes, causing 147 codes to lose value on the HCM City Stock Exchange. The majority of stocks hit the floor, including major stocks such as Binh Dinh Minerals (BMC), Saigon Securities Inc (SSI) and the Corporation for Financing and Promoting Technology (FPT). Only 10 codes were gainers and seven remained unchanged. Sacombank (STB) was the most active for the day with 2.5 million shared traded, followed by Phu … [Read more...] about Sell-off deals VN-Index harsh blows
Groupon shopping model, which has been very successful in the US. However, despite the great advantages, analysts believe that the model is not likely to succeed in Vietnam. VNG on February 7 officially announced the closing of zing.deal.vn, a Groupon service, after published the decision on the website last week. The announcement has caught the special attention from the public because it not only declares the end of a part of a company, but may be the end of a type of business. Doan Do Ngoc Thi, a senior executive, said on Saigon Tiep Thi that VNG has decided to stop providing the service, because it plans to focus on technology products. "The lessons we draw from running Zing Deal could be applied for the new models of VNG, especially in e-commerce which has become a growing tendency," she said. "Having the community" doesn't mean "having everything" The ending of Zing Deal has raised a question about the future of the Groupon business model which has been developing … [Read more...] about Zing Deal gives up the games, what’s next?