Two H’mong ethnic minority women in the northern mountainous province of Lao Cai’s Bac Ha district (Photo: VNA) Hanoi (VNA) - Social mobility in Vietnam is lagging behind its economic growth over the last decade, as the country’s poor still lack access to learn new skills and gain better jobs. A new report "Social Mobility and Equality of Opportunity in Vietnam: Trends and Impact factors” launched by Oxfam on March 29 highlighted the problem and the threat it poses to the country’s sustainable growth. The report consolidates data from the Vietnam Household Living Standards Survey 2004 -14 and interviews with about 700 people over the last two years in three provinces of Lao Cai, Nghe An and Dak Nong in the north, central and Central Highland regions, respectively. Social mobility is defined as a change in the social status of an individual or household. Social mobility can refer to a change an adult experiences as compared with his/her parents … [Read more...] about Report highlights Vietnam’s social mobility
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Vietnam’s first quarter credit growth at 2.23 percent: GSO
Commercial bank deposits also went up by 2.20 percent; however it is 2.43 percent lower compared to the same period last year. Vietnam’s credit growth was 2.23 percent in first quarter while it was 2.81 percent in last year’s first quarter. GSO’s report said that deposit interest rates were also stable, at 6.5 - 7.3 per cent for deposits in Vietnamese đong over a 12-month term. Lending interest rates for prioritized sectors stood at 6 - 6.5 per cent over 12-month term while it was 6.7 - 9 percent in short -term loans and 9.3 - 11 percent in long-term loans for other sectors. For businesses with transparency in finance report, lending interest rate was 4 - 5 percent over 12 months as short-term loans. The office of State bank of Vietnam in the HCMC said that credit growth of institutions in the city in the year’s first quarter was estimated 3 percent higher than the growth in the end of 2017 and much higher than the country’s general growth. The … [Read more...] about Vietnam’s first quarter credit growth at 2.23 percent: GSO
Vietnam treasures comprehensive cooperation with China: PM
Prime Minister Nguyen Xuan Phuc made the affirmation while hosting a reception in Hanoi on March 31 for Chinese Foreign Minister Wang Yi. The Vietnamese leader underlined that Wang Yi’s official visit to Vietnam and his attendance at the sixth Greater Mekong Subregion Summit (GMS-6) are a vivid illustration of China’s support for the bilateral ties and the neighboring country’s hosting of GMS-6. Prime Minister Nguyen Xuan Phuc and Chinese Foreign Minister Wang Yi Both sides need to enhance the fruitful relations via high-level exchanges, he said, noting that they should address bottlenecks to bring greater economic benefits to each nation. He suggested China facilitate imports of Vietnamese products, invest in high-tech and environmentally friendly projects in Vietnam as well as put forth collaboration with the Southeast Asian country in transport, agriculture, environment, science and technology and finance. He expressed his hope that China will … [Read more...] about Vietnam treasures comprehensive cooperation with China: PM
Vietnam to sustain decade-high economic growth to 2020: PM
Vietnam will maintain its current economic growth until 2020 by giving private firms more room to grow and driving positive change to rural areas, said Vietnam’s prime minister in an interview with the Financial Times and Nikkei last Monday. Nguyen Xuan Phuc said the Southeast Asian country’s economy grew by 7.41 percent in the first quarter of 2018 compared to 6.81 percent last year, marking the highest growth rate in a decade. To continue this success, Phuc said Vietnam will facilitate an economic environment conducive for private firms to thrive, citing how these companies account for 43 percent of the nation’s Gross Domestic Product (GDP), making them the vanguards of Vietnam’s economic growth. The Vietnamese government will help by developing new policies, distributing resources, encouraging the creation of new enterprises and giving firms more opportunities to utilize modern technologies, said Phuc. "We will try to put in place the most favorable policies … [Read more...] about Vietnam to sustain decade-high economic growth to 2020: PM
An American woman’s spiritual bond with Vietnam
Carolyn is wearing a Vietnamese conical hat. A blue stamp In her stamp collection, Carolyn is particularly interested in a small Vietnamese stamp that depicts a blue dragon on a red background. At 12 years old, the little girl asked her father “Where in the world is Vietnam?” She was too young to figure out the location of the country but for some unknown reason, Carolyn had “a good feeling about Vietnam”. In 1967 when she was a third-year student at the State University of New York, Carolyn was allowed to choose to study in any country she wanted over the course of the next two years. She chose France and it was the first opportunity for her to learn more about Vietnam. “I thought Vietnamese students were the best. My French teachers also said the same. Any educated American knows that Vietnamese students are very smart. It is one of the things, other than the war, that Americans know about Vietnam.” At that time, America was in the middle of the … [Read more...] about An American woman’s spiritual bond with Vietnam