Global perceptions of Vietnam’s business environment improved significantly with the development of the Master Plan of Administrative Procedure Simplification in the field of state management for 2007-2010 (Project 30). The expansion of Vietnam’s private sector, especially small- and medium- sized enterprises is also positive. But there remains a lot of work to be done to [...]
United Nations Resident Coordinator in Vietnam John Hendra provides VIR with his insights on the country’s progress on the Millennium Development Goals (MDGs). What is the status of progress towards the MDGs globally? The MDGs have proved to be an unprecedented catalyst for global action and greater accountability for development and there has been impressive [...]
Vietnam borrowed an additional $1 billion in 2010, raising its total foreign debt to $29 billion, according to the Ministry of Finance. It was equivalent to around 28 percent of Vietnam’s GDP of $104 billion last year. Of the amount government debt accounted for $25 billion and loans for state-run companies and organizations accounted for [...]
A lot of businesses have incurred big losses due to the dong/dollar exchange rate fluctuations. They have called on the Government to intervene in the foreign currency market and take necessary measures to stabilize the exchange rate in 2011. Exchange rate fluctuations turn profit into loss In mid-December 2010, Bao Gia Khanh Company signed a [...]
Prime Minister Nguyen Tan Dung has ordered ministries, cities and provinces to complete the allocation of government bonds for projects before February 15. Priority will be given to projects scheduled to finish within the year, transitional projects which need to accelerate their progress to finish in 2012, and key projects to boost regional economic development. [...]
Prime Minister Nguyen Tan Dung has urged ministries, sectors and grass-root authorities to provide an adequate power supply for business production and increased residential demand. The leader has asked State agencies and offices to draw up plans to save power, issue regulations on power use, and use energy-efficient electricity appliances and lights in all agencies. [...]
Viet Nam has made active contributions to the World Economic Forum 2011, Deputy Prime Minister Nguyen Thien Nhan says. Speaking yesterday at the end of the annual meeting in Davos, Nhan said Viet Nam had taken part in all five major discussions relating to building new economic models after the crisis, assessing the current world [...]
Coffee export was estimated to reach 140,000 tonnes during the first month of this year, down by 3.7 per cent year-on-year, according to the General Statistics Office. However, due to higher coffee prices over the same period last year, the export turnover increased by 30.4 per cent to US$266 million, it said.
The Hai Phong Economic Zone (EZ) Management Board on Friday granted licence to Hong Duc Industry Joint Stock Co to build the infrastructure of an industrial and maritime service park in the zone. The VND505 billion (US$26 million) project, the first of its kind in zone, covers an area of 1.3 million square metres. The [...]
Local commercial banks had high profits last year despite turbulences in the currency market. According to the StoxPlus Financial Media, among companies listed on the Ha Noi and HCM City stock exchanges, the ratio of revenue and profit of banking sector was 39.6 per cent, ranking second after the financial sector and much higher compared [...]
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