“High budget overspending is expected to last during the coming years because the government continues to apply a loosened fiscal policy to support the economic growth” A soaring trade deficit and budget overspending will continue fuelling the country’s macroeconomic instability. Many National Assembly deputies said continued big trade deficit and budget overspending were the two direct major causes of macroeconomic instability in 2010 and during the following years. “The country’s macroeconomy is continuing to be unstable and is exposing more risks,” said National Assembly Economic Committee vice chairman Vu Viet Ngoan. The government reported that Vietnam’s total export and import turnovers were estimated to be $68 billion and $81.5 billion, respectively, in 2010. The trade deficit of $13.5 billion was estimated to be equivalent to 19 per cent of total export turnover. This came in line with the government’s goal to curb the trade … [Read more...] about Negative indicators sparking concerns Top News , News headlines from Vietnam and the world
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Hanoi (VNA) – The ongoing 12th National Congress of the Communist Party of Vietnam (CPV) has been widely covered by international press in recent days. Japan’s NHK World website on January 21 ran an article saying the National Party Congress is the most important political event for Vietnam and is held once every five years. More than 1,500 representatives from across the country will choose the leadership and discuss national policies. The meeting is also expected to call for further economic reforms and sustainable growth in line with recent progress in regional economic integration, especially in the context of Vietnam being one of 12 signatory countries to the Trans-Pacific Partnership (TPP) agreement last year, and a member of the ASEAN Economic Community, which was established last month, the article said. Sankei newspaper of Japan on January 22 quoted a political report presented by Party General Secretary Nguyen Phu Trong at the Congress, which called for economic … [Read more...] about Bản in : 12th National Party Congress makes headlines in foreign countries
Viet Nam News *Supalak Ganjanakhundee Rhetoric has come full circle in the dispute over the South China Sea but can the Philippines, the current chair of Asean and a claimant state, deliver a peaceful solution for the area? So far, there is little to see apart from wishful thinking from Manila as it pledges to conclude the Code of Conduct (CoC) for the South China Sea by the end of this year. A joint working group of officials from China and Asean have agreed on a set a series of meetings to speed up the work towards creating an international legal instrument that would control the behaviour of the signatories in the contentious sea. But their actions reveal a different mindset. China and many countries in Southeast Asia have had territorial conflicts over the sea for several decades. China, however, asserted itself and occupied the Paracel and Spratly archipelagos in the 1970s and 1980s respectively. In addition to China, its rival Taiwan as well as Asean countries Brunei, … [Read more...] about Wishful thinking on Code of Conduct for South China Sea – Opinion – Vietnam News Politics, Business, Economy, Society, Life, Sports
National Assembly (NA) members are voting to delay the implementation of the newly amended Penal Code 2016 after several legal loopholes in the code were detected. The one-day voting session will end at 3pm today, and President Tran Daii Quang is expected to announce a resolution tomorrow morning to postpone the date the amended Penal Code will take effect if a majority of the NA agrees to do so, NA Office Chairman Nguyen Hanh Phuc told Vietnam News yesterday. The official decision is expected to come just one day before the initial implementation date of the Penal Code on July 1. The resolution, if there is one, will also state a date for the Penal Code to come into force. The rushed NA voting session followed an unusual closed meeting Monday between the NA Standing Committee and heads of local NA delegations to discuss how to handle a Penal Code that was found to have many errors and loopholes, especially since it was due to become effective in a few days. “This is a very … [Read more...] about National Assembly votes to postpone error-riddled Penal Code
Viet Nam News Readers ranging from foreign diplomats to local businesspeople - and expats falling somewhere in between - all have their own reasons for reading Viet Nam News. Ha Chan Ho, senior strategic advisor to Samsung Electronics Vietnam I have been living in Viet Nam for more than four years, and I have been reading Viet Nam News every day. I usually start with the front page, followed by the national and business sections as well as lifestyles. If I had more time, I would read all the pages. I found that by reading Viet Nam News daily, I can understand more about Viet Nam and get all the information I need about the country. I feel that this newspaper has become a very important part of my daily life. Việt Nam has a lot of newspapers and television networks. But there are not many English media outlets. Việt Nam News is the only national English daily newspaper. The foreign community in Việt Nam is getting bigger, and I believe that they need more information about Việt … [Read more...] about Readers Review: Why read Việt Nam News?