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Analysts, while applauding the timely decision by the State Bank of Vietnam to raise the basic interest rate and adjust interbank exchange rates, say Vietnam needs to take special, and even harsh measures, in such a critical situation.
A conference to promote investment, trade and tourism in the Vietnamese-Laotian-Cambodian development triangle took place in the Central Highlands province of Dak Lak on Nov. 11.
When Governor Giau announced the State Bank of Vietnam’s decision to allow gold imports, he confidently said that the imports will force down the precious metal’s price. However, Giau’s prediction has not come true, the price keeps rising even though gold imports have arrived.
More than 70 percent of producers predict that the retail market will see a double-figure growth rate of 20-25 percent in 2010. This information was released at a recent seminar held in Hanoi on consumer spending and prospects for the Vietnamese retail market in 2010.
A USD40-million contract has been signed for supplying coal handling facility.
About 17,000 Piaggio scooters are expected to be sold in Vietnam this year.
State agencies and Vietnam’s automakers should collaborate on a long-term plan to develop the auto industry, the chairman of Vietnam Automobile Manufacturers Association, Akito Tachibana, told a seminar on Thursday.
Distributors have reasoned the VND/USD exchange rate increase and the petrol price hike will push prices of goods up even further.
Many cities and provinces in the Mekong River Delta have raced to set up industrial clusters without carefully considering their effectiveness, wasting several thousand ha of farmland and jeopardising residents’ livelihoods.
A leading economist, National Assembly deputy Tran Du Lich, says high inflation and a depreciating dong are both big threats to Vietnam’s economy, but gives priority to stabilizing the exchange rate.
The first draft on the five-year socio-economic development plan for the 2011-2015 period was announced by the Ministry of Planning and Investment at a seminar held in Hanoi on November 23 in consultation with various ministries, sectors, localities, research institutes and social organisations.
