Economic growth inflation

GDP per capital (US$ current prices) … [Read more...] about Ernst & Young upbeats about Vietnam’s economic prospects

In addition, the Government cautiously recommended the NA consider and adopt the guideline on several specific mechanisms and policies to revive the economy in the new situation. Accordingly, the Government asked for the NA’s permission to proactively adjust the 2020 public investment plans among ministries, sectors and localities within the expenditure estimate on development investment; convert the investment mode for important transport projects from that of a public-private partnership to the use of the state budget; exempt and reduce a number of tax obligations concerning the areas and subjects suffering heavy losses due to COVID-19; postpone the increase of basic salary for civil servants, public employees and the armed forces and pensions from July 1, 2020; and consider launching new economic stimulus packages if the pandemic continues to be prolonged on a global scale. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30

Regarding the increase in interest rates, Tai Hui says it is the beginning of a new trend to raise the interest rate. “Currently we predict that the basic interest rate will surge to 10 percent by the fourth quarter of 2010, higher than our previous prediction of 9 percent. This may lead to an increase in the lending interest rate to around 15 percent,” he adds. … [Read more...] about Increase basic interest rate – a good therapy for national economy

Dr. Tran Dinh Thien, Associate Professor, Director of Vietnam Institute of Economics, made the statement at the opening ceremony of the Autumn Economic Forum held yesterday in the southern city of Vung Tau. Dr Thien also pointed out some paradoxes in the Vietnamese economy such as local banks having large amounts of money, while many enterprises complain about accessing capital. “Many outstanding problems relating to land disputes, lax management at state-owned enterprises or risks to the banking system, etc. are bringing more difficulties to the economy and people’s lives,” he said, while proposing solutions including setting out a long range development plan, removing quotas for provincial GDP growth, and providing more assistance to enterprises. National Assembly Deputy Tran Du Lich from HCM City also agreed with Dr Thien, saying that it was necessary to lower corporate income tax and help firms access credit. Dr Nguyen Dinh Cung, Deputy Director of the … [Read more...] about Forum discusses the problems facing Vietnam’s economy