The Vietnam Business Forum, an annual event on the sidelines of the Consultative Group meeting of donors, opened in Hanoi on Friday. This year the meeting focuses on measures to restructure the Vietnamese economy, laying a foundation for its sustainable growth. According to a World Bank report released on Wednesday, Vietnam's macro economy has been basically stabilized thanks to the government's efforts. The government's resolution No11 on inflation control and macro-economic stabilization has proved to be effective, resulting in slower inflation in recent months. Industrial and service sectors have grown sharply, boosting overall growth. Rising food and commodity prices in the world have encouraged Vietnam's exports. The banking sector's tight and prudent monetary policies have kept the growth rate of liquidity and credits within targets. The World Bank report says these initial results will make it easier for Vietnam to pursue its economic stabilization policies. … [Read more...] about Laying a foundation for sustainable growth
Sustainable growth
Promoting sustainable growth and improving Vietnam economy’s competitiveness
It is widely known that with average annual GDP growth rate of 7.45%, 1991-2009 was really a period of magnificent economic growth inVietnam. 2009 GDP (in 1994 price) was approximately 3.7 and 1.76 times higher than that of 1991 and 2001, respectively. GDP per capita in real terms in 2010 was about USD1,200, which put Vietnam in the group of low middle income countries; the poverty rate reduced rapidly from 58% in 1993 to 26% in 2000 and below 10% in 2010. The development gap between Vietnam and other regional economies has narrowed significantly. For example, Thailand's GDP per capita in PPP terms in 1995 was 4.4 times higher than that of Vietnam, which has reduced to 2.5 times in 2008. Similarly, the gap with Singapore has reduced from 27 to 18 times, with Indonesia ' from 2.3 to 1.4, and with South Korea from 13 to 10.4 times. … [Read more...] about Promoting sustainable growth and improving Vietnam economy’s competitiveness
Exports of blue dragon fruit target sustainable growth
(VOVworld) ' The southern province of Binh Thuan is famous across the country for its blue dragon plants. In the past, blue dragons were grown as decorative plants, however the tree has now become a big hard currency earner for the province helping to reduce local poverty levels amongst farmers and some have even become better off. The province has been attempting to improve the quality of the export fruit to ensure sustainable growth. A report by VOV's To Tuan. … [Read more...] about Exports of blue dragon fruit target sustainable growth
Binh Dinh increases cooperation for sustainable growth
(VEN) - Located on the economic development axis along the central region that goes through Tay Nguyen (Central Highlands) and the East-West Economic Corridor, Binh Dinh has many advantages in terms of transport and abundant natural resources. The province is gradually restructuring its economy and utilizing its potential while at the same time expanding cooperation with other localities nationwide as well as the Lao provinces of Champasak, Sekong, Attapu, Salasan, and Thailand's Sisaket and Ubon Ratchathani. Vietnam Economic News' Hung Hai spoke with Binh Dinh Province People's Committee Chairman Le Huu Loc. … [Read more...] about Binh Dinh increases cooperation for sustainable growth
Sustainable growth big concern for 2010
Though industries have regained growth after a long difficult period, economists have pointed out that recovery is precarious when the growth depends on the investment scale, low labor costs and Vietnamese products that primarily compete using low prices. Industries make up nearly 40 percent of the GDP and their recovery in the last months of 2009 greatly helped ’s national economy obtain its growth rate of 5-5.2 percent.Vietnam High growth, but high inventories Processing industries contributed the most to the recovery in the second half of the year, including animal feed production, garment and footwear, household electric goods and construction materials. The growth rate of mining industries decreased mostly because of lower prices in the world market. This has not caused problems for the national economy, since raw material exports do not benefit the national economy in the long term. The recovery was mostly created in the private economic sector and foreign invested … [Read more...] about Sustainable growth big concern for 2010