Chronic shortcomings in Vietnam economy yet to be tackledThuy Dung One of current problems is the increasing number of complaints about land use and management policies - PHOTO: DINH DUNG HANOI – Despite positive results in socio-economic development, National Assembly (NA) deputies have pointed out chronic shortcomings in the local economy, especially those related to land, regulations, capital disbursement and business conditions, which must be remedied if the economy is to sustain growth. Such issues were tabled at a NA meeting on May 25 on the nation’s socio-economic performance and the State budget-related problems last year and in the first months of this year. Deputy Vu Tien Loc from the northern province of Thai Binh nevertheless said the country has kept public debts from rising and replenished the State budget by using one-off revenues from public land and asset sales, and sales of stakes in State-owned enterprises. When these sources dry up, the Ministry … [Read more...] about Chronic shortcomings in Vietnam economy yet to be tackled
Vietnam economy 2017
Vietnam economy seen expanding 6.83% in 2018
Vietnam economy seen expanding 6.83% in 2018The Saigon Times Daily Discounted travel bags are on sale at a booth of a local company at a trade fair. Inflation in quarter one rose slightly compared with previous quarters, largely influenced by upward adjustments of public services fees such as healthcare and education - PHOTO: THANH HOA HCMC – Vietnam’s gross domestic product (GDP) growth is forecast to reach 6.83% this year, the Vietnam Institute for Economic and Policy Research (VEPR) is quoted by news website Nguoi Dong Hanh as saying. Given the strong growth of 7.38% in quarter one, VEPR says the 2018 growth target of 6.5-6.7% approved by the National Assembly (NA) could be achievable thanks to a host of favorable conditions. However, there remain uncertainties such as growing protectionism in global trade and a possible trade war between the United States and China, the world’s two biggest economies. VEPR expects the 2018 growth model will be different … [Read more...] about Vietnam economy seen expanding 6.83% in 2018
DEPOCEN pinpoints challenges for Vietnam economy
DEPOCEN pinpoints challenges for Vietnam economy Tu Hoang HANOI - Major challenges for Vietnam’s economy are related to how the Government can attract private investment in programs that back socio-economic growth and inflation control, according to the Development and Policies Research Center (DEPOCEN). DEPOCEN said in a February report on Vietnam’s macroeconomic issues that the private sector is of paramount importance to the country’s socio-economic growth given State budget constraints and the fact that Vietnam can no longer get official development assistance loans from international donors from July this year. The report said Vietnam is expected to attain economic growth of 6.3% in 2017 thanks to the Government’s endeavor to ensure macroeconomic stability and further improve the business environment. Inflation is projected at 4.3-4.5% this year. Earlier, the National Assembly approved this year’s economic growth of 6.7%, export expansion of 6-7%, … [Read more...] about DEPOCEN pinpoints challenges for Vietnam economy
Vietnam economy seen facing multiple challenges in 2017
Vietnam economy seen facing multiple challenges in 2017 Van Nam A view of the teleconference between the central and local governments on December 29. Vietnam’s economy would face a slew of challenges in 2017 such as poor weather, rising public debt, bad debts and low competitiveness - PHOTO: CHINHPHU.VN HCMC – Vietnam’s economy would face a slew of challenges in 2017 such as poor weather, rising public debt, bad debts and low competitiveness, heard a teleconference between the central and local governments on December 29. Minister of Finance Dinh Tien Dung told the meeting that the ministry had taken measures to inspect tax payments, fight transfer pricing and collect VND42 trillion (US$1.8 billion) in tax arrears. Budget collections have met the full-year target with revenues of provinces and cities exceeding the estimate by 15%. Dung said there are a number of reasons behind the lower-than-expected gross domestic product (GDP) growth this year. Oil … [Read more...] about Vietnam economy seen facing multiple challenges in 2017
2017 to be good year for Vietnam economy: analysts
VietNamNet Bridge - Economists say that 2017 is expected to be an auspicious year for Vietnam’s economy, with few signs of uncertainties. Reviewing events in 2016, Le Dang Doanh, a respected economist, said Vietnam had seen big changes and challenges, from environmental disasters to natural calamities. He said that amid such challenges, the government has set a series of important policies, including ones on accelerating the establishment of new businesses and speeding up restructuring. When asked what is important in 2017, the economist said it is necessary to accelerate the equitization of state-owned enterprises. Economists say that 2017 is expected to be an auspicious year for Vietnam’s economy, with few signs of uncertainties. “I strongly believe that if we can do this well, the stock market will be bustling in 2017,” he said. Doanh believes that in 2017, there will be big opportunities for investors in the service sector. The percentage of older … [Read more...] about 2017 to be good year for Vietnam economy: analysts