Vietnam Economy Grows By 5.18% In H1

VNS/VNN   Vietnam achieved GDP growth of 5.25% in the second quarter of this year, bringing the six-month rate to 5.18%, according to the General Statistics Office (GSO). In the national economic structure, agro-forestry and fisheries rose 2.96%, construction and industry 5.33% and services 6.01%. The consumer price index (CPI) edged up 0.3% in June … Continue reading

Poor Labor Productivity A Drain On The Economy

VNN A cheap labor force is no longer a great advantage for Vietnam in attracting foreign direct investment (FDI), while a low labor productivity rate is not helping matters, either. The latest report released by the International Labor Organization (ILO) showed that the Vietnamese labor productivity rate in 2013 was among the lowest in Asia … Continue reading

Vietnam, US work to expand partnership

VNA Prime minister Nguyen Tan Dung has affirmed that Vietnam hopes to work more closely with the US to expand the bilateral partnership in all fields for the mutual interests and development of both countries. Meeting Chair of the East Asian and Pacific Affairs Subcommittee under the US Senate Committee on Foreign Relations Benjamin Cardin … Continue reading

Vietnam Remains Attractive And Friendly In Foreign Investors’ Eyes

Tien Phong/VOV/VNA   Foreign investors say they consider the riots triggered by disruptive elements some days ago to be unfortunate incidents, but affirm that they do not intend to leave Vietnam, which they still find “attractive” and “friendly”. Nearly all the foreign invested enterprises affected by the riots some days ago have resumed their normal … Continue reading

Investment Law Aids Foreign Investors

VNS   The new investment law aims to improve fairness and transparency, the Ministry of Planning and Investment’s Legal Department deputy director Quach Ngoc Tuan told Dau Tu (Viet Nam Investment Review). The proposal in the draft Investment Law to eliminate investment certificates in many projects has been described as a progressive step in improving … Continue reading

Vietnam offers tax favour to violence-hit enterprises: PM

SHD   Vietnam will give a tax-payment extension up to two years, to enterprises that were hit by violence, without any penalty for payment delay, prime minister Nguyen Tan Dung has said. Vietnamese government’s e-Portal on Wednesday quoted Dung as saying that the measures are to support enterprises in overcoming damages caused by illegal activities. … Continue reading

The economy is clearly recovering: government report

Vietnamnet   Inflation is under control, export revenue is up, the trade balance is going from deficit to surplus and many other goals set for 2014 have been achieved, convincing the government that a recovery is clearly underway. The government report on the results of socio-economic tasks in 2013 was presented by deputy prime minister … Continue reading

Stronger support needed for SMEs

VOV   Vietnam should provide more support for small and medium-sized enterprises (SMEs) to help them improve capacity and competitiveness, said Alain Chevalier, a chief advisor for a SME assistance programme. At a recent seminar on Vietnam-France trade and investment promotion held by the Ministry of Industry and Trade (MoIT), Alain Chevalier praised the fine … Continue reading

Tough times ahead for business

SGT Local and foreign experts and economists have warned that enterprises in Vietnam might face troubled times ahead due to weak consumer demand. The warning came after the General Statistics Office (GSO) has projected a consumer price index (CPI) decline of 0.44% in March versus the previous month. The experts stressed this decrease is not … Continue reading

Boosting market economic development to help Vietnam avoid middle income trap

ThanhnienNews Vietnam must develop its markets to foster greater labour productivity and avoid the middle-income trap, economists advised at a recent conference. “Market regulations are incomprehensible and the business environment remains distorted,” Tran Dinh Thien from the Vietnam Economics Institute told a conference on avoiding the middle-income trap on Tuesday. The country has not yet … Continue reading