Viet Nam News HÀ NỘI — Bad debts in Việt Nam are being tackled thoroughly but there are still many insufficiencies in the handling work. Phạm Mạnh Thường, Deputy Director of Việt Nam’s Debt and Asset Trading Corporation (DATC), made the statement at a forum held in Hà Nội on Thursday. The forum, themed “A Road To Strengthening Asia’s Financial Safety Net And Resolution Mechanism”, gathered policy-makers, international experts and representatives of asset management companies from five Asian countries, discussing financial security and the handling of bad debt in the Asian region. Representatives from China, Kazakhstan, the Republic of Korea, Thailand and Việt Nam attended the forum, organised by DATC, Việt Nam’s Ministry of Finance and the Asian Development Bank (ADB). Thường said, since its inception, the DATC had handled over VNĐ90 trillion in domestic and … [Read more...] about Vietnam and partners discuss bad debts handling
Globalization good or bad
VietNamNet Bridge - Hot issues in the APEC Summit 2016 are Brexit and the rise of populism in politics, especially in the US after Donald Trump was elected the new president, which appears to have added strength to the voices protesting globalization. Protectionism is about to "rise", trade and investment are "losing momentum" and gradually they are no longer a top strength of economic globalization. After the Brexit "shock" will there be a shock of globalization? Mercantilism caused instability in the world for decades. Before the Industrial Revolution, the regulations restricting imports by tariffs and quotas in order to promote domestic productionreduced the strength of opponents and increased global influence. These measures actually created some short-term gains but they caused political tensions, territorial expansion and persistent and costly wars. The consequences of the new mercantilism of the US President-elect Donald Trump, especially for China, may not be so bad, but … [Read more...] about APEC 2016: what is the future of globalization?
■ The government has mentioned the possibility of having a fundraising market for Vietnamese startups. Do you think the idea is feasible in the current circumstances? The formation of such a market would depend on a number of important factors: (i) the development of the stock market and the readiness of the government to manage new stock boards; (ii) the quality of public investors, and (iii) the quality of the startups themselves. The governments of developed countries have had many years of experience in managing different public markets and been through many periods of boom and bust, and their public investors have a long history of conducting stock trading with a good understanding of what it entails and a willingness to take risks. Businesses have started up and sought access to capital in these countries for decades, while in Vietnam the private sector has only been encouraged since the "doi moi" (renovation) process was adopted in 1986. It will take time for Vietnam to … [Read more...] about Local startups in good shape but improvements needed
The Hanoitimes - On May 24 afternoon, President Obama met with the business community in Vietnam at the headquarter of the Dreamplex Co-Working Space at the Miss Ao Dai Building in District 1, Ho Chi Minh City. After leaving Hanoi, the US President Barack Obama arrived in Ho Chi Minh City. After visiting the Ngoc Hoang (Jade) Pagoda in Ho Chi Minh City, the US President Barack Obama met with young Vietnamese entrepreneurs and delivered his remarks on entrepreneurship and opportunity for the Vietnamese people. The top US leader was impressed by dynamic young Vietnamese entrepreneurs who are believed to have a wealth of opportunities to do great things. President Obama said he would support Vietnam in startup activities and English language teaching while expressing his confidence in the development of entrepreneurship in the country. "What makes start-ups successful is good ideas and human capital. Investors and infrastructure are important but most is people. If look at Vietnam … [Read more...] about President Obama: Trading is not easy whether in the US or Vietnam
Editor's note: Branko Milanović is an economist who specializes in development and inequality. He is currently Visiting Presidential Professor at City University of New York Graduate Center and an affiliated senior scholar at the Luxembourg Income Study (LIS). He was formerly the lead economist in the World Bank's research department. His more recent book is Global Inequality: A New Approach for the Age of Globalization.As many of the world’s richest and most powerful individuals gather at the World Economic Forum in Davos this week, we again find ourselves talking about economic inequality. New figures from Oxfam show the world’s billionaires increased their fortunes by a handsome $762 billion in just 12 months, enough to end extreme poverty seven times over.Oxfam uses Credit Suisse data to show that 82 percent of new wealth created last year went to the top 1 percent. This is a long-term problem – the World Inequality Report[i], reveals … [Read more...] about Income inequality rising globally: economist