|
BUSINESS IN BRIEF 29/12
Ministry greenlights cashew project
The Ministry of Agriculture and Rural Development has approved
a programme to sustainably grow the cashew industry, which targets output
rising to 400,000 tonnes by the end of this decade from 286,000 tonnes now.
It also has a target of doubling the ratio of fully processed
nuts to 20 per cent and processing more cashew shell and wood to add value.
Besides, domestic cashew consumption is expected to account
for half of the total output, up from around 10 per cent now.
The programme also seeks to review and tweak cashew zoning
plans; replace aged trees; and develop intercropping models, high-quality
seedlings, and advanced farming techniques.
The four provinces of Binh Phuoc, Dong Nai, Ba Ria-Vung Tau,
and Binh Thuan will remain the main cashew cultivation areas, with a combined
growing area of 200,000ha compared to the country's total cultivation area of
300,00ha.
To achieve all these targets, the industry will take measures
like modernising technologies and equipment to expand processing capacity,
improve quality, diversify, and ensure hygiene and food safety.
The Government will continue to invest in developing
high-quality strains that are resistant to diseases and climate change.
More research will be undertaken to increase mechanisation in
caring for, harvesting and processing cashew, and agricultural extension
activities will be stepped up.
The industry will step up training to meet its future needs.
Trade promotion will be strengthened both at home and abroad
to enable the industry to meet the export target of more than US$2.5 billion
by 2020 as well as increase consumption in the domestic market.
The industry will step up co-operation with international
organisations for developing new strains and farming and processing
techniques.
According to the Crop Production Department, the area under
cashew has reduced significantly to around 310,000ha now.
The industry expects exports this year to be around 300,000
tonnes worth $2 billion, a record figure, according to the Viet Nam Cashew
Association.
Hoa Binh gets involved in Metro Line No. 2 project
Hoa Binh Construction and Real Estate Corporation (Hoa Binh)
has clinched a contract with the Management Authority for Urban Railways
(MAUR) to participate in construction of Metro Line No.2 in HCMC.
Hoa Binh will be the main contractor for the architectural
structure, mechanical and electrical facilities and technical infrastructure
of a package related to the management building and auxiliary works at Tham
Luong Station.
The VND173 billion package as part of the Metro Line No.2
project will be implemented within a year or so. The package is funded by an
Asian Development Bank (ADB) loan of US$40 million, according to MAUR.
The building will be used for operation and management of
track and help MAUR and consultants set up and install equipment for the
metro project.
This metro line will stretch nearly 20 kilometers and connect
Thu Thiem New Urban Area in District 2 and Tay Ninh Coach Station in
neighboring
The project was originally forecast to need US$1.37 billion,
including US$540 million from ADB, US$313 million from German development
bank KfW and US$195 million from the European Investment Bank (EIB). The rest
will be sourced from
However, the city said in a report submitted to the Ministry
of Transport in September that the cost of Metro Line No.2 should be revised
up to US$2.1 billion due to inflation and design change.
Rice
sector reform should focus on quality varieties
The development of quality varieties remains key to
restructuring the nation's rice sector, officials said yesterday.
Speaking at a conference held by the
According to the Cultivation Department, about 365 rice
varieties are currently licensed for production in
Agriculture experts at the conference also estimated that just
10 per cent of rice varieties grown in the Mekong Delta go through quality
inspections before being sold in the market.
There was general agreement at the conference that better ways
must be found to assist farmers access quality rice varieties developed by
institutes and researchers.
A report said that of 50 new rice varieties recently developed
by the Cuu Long Delta Rice Research Institute, only seven have been given to
firms and distributed to farmers.
Tu Anh, deputy director of Phu Tho Province's Department of
Agriculture and Rural Development, said relevant government agencies should
identify the types of rice varieties can be given more resources for expanded
cultivation.
Restructuring plans for the rice sector should also identify
rice varieties suitable for different regions in the country, he said.
Dinh agreed, saying that the ministry was also looking at
different approaches to restructuring the rice sector. One approach under
consideration was to have the Mekong Delta focus on rice varieties for
export, while the Northern and Central regions prioritise domestic market
needs, he said.
Nguyen Van Vuong, another official of the Cultivation
Department, said most rice varieties that
Le Hong Nhu from the Association of Bonsai and Ornamental
Plants Association said there must be a clear criteria set for assessing rice
varieties earmarked for expanded cultivation or elimination.
Associate Professor Le Vinh Thao, formerly with the Viet Nam
Institute of Agricultural Science, stressed the need for using rice varieties
that need less water and other inputs like fertilizers. He said this is
needed to ensure sustainable quality of
The Cuu Long (Mekong) Delta will not expand its agricultural
area but will instead focus on improving yield and quality, Deputy Minister
of Agriculture and Rural Development Tran Thanh
Speaking at a seminar in Can Tho on Wednesday, he said the
region would bolster co-operation between farmers and companies to develop
large-scale rice fields to increase farmers' earnings.
The country's rice granary is expected to produce around 25
million tonnes of paddy this year, up 500,000 tonnes from last year,
according to the Southwest Region Steering Committee.
The region's authorities underlined the important role played
by companies and co-operatives in restructuring agriculture.
Le Minh Hoan, secretary of the Dong Thap Province Party
Committee, said many kinds of agricultural co-operatives are operating
effectively in his province.
They tie up with companies to buy agricultural inputs and
guarantee outlets for their members, he said.
"Co-operatives have helped reduce production costs and
increase profits for farmers."
Many rice companies in Dong Thap have invested in agriculture
in the form of building warehouses for storing rice, dryers and others.
The Southern Food Corporation has helped agricultural
co-operatives in Dong Thap train their managers to improve capacity and
cooperation among agricultural co-operatives and with companies.
Participants at the seminar said there is little co-operation
between provinces in the delta.
Deputy Prime Minister Vu Van Ninh called on the delta
provinces to restructure agriculture simultaneously with an ongoing central
programme to make over rural areas, saying this would help increase the value
of agricultural production.
To restructure agriculture, the delta's provinces and Can Tho
city should improve the newer co-operation models between farmers and
co-operatives and between farmers and companies, he said.
They should adopt advanced technologies to improve yields and
cope with climate change, he said.
He called on the Ministry of Planning and Investment to
release a list of infrastructure projects in the delta and encourage
investment in them.
Policies for linking up the region should be in place soon, he
said.
The policies, being drafted by the Southwest Region Steering
Committee and the Ministry of Planning and Investment, will seek further
development of the region's transportation, irrigation and infrastructure.
The regional links will focus on production, processing and
sale of agricultural and fisheries products, creating common brand names and
improving the quality of key products.
It will also focus on protecting the environment and
responding to climate change and natural disasters.
The delta will increase the area of large-scale rice fields to
200,000ha next year, 66,000ha more than now, according to the Southwest
Region Steering Committee.
An Giang, Dong Thap, and Can Tho alone will account for
110,000ha.
Firms
urged to tackle trade barriers
Vietnamese businesses are not fully aware of technical
barriers to trade, said Duong Dinh Giam, general director of the Industrial
Policy and Research Institute, at a seminar yesterday in
In the international economic integration process,
standardisation in general and technical barriers to trade more specifically
have become increasingly important, Giam said.
A common trend in international trade is goods lacking import
tariffs. However, countries without import tariffs will use other, non-tariff
measures to protect domestic production against fierce competition from
imported goods, Giam said.
Nguyen Binh Giang from the Import and Export Department under
the Ministry of Industry and Trade said the basic solution for businesses is
to accelerate market research and promote trade. They must build a long-term
strategy to make exported products higher-quality and increase their
competitiveness. Moreover, local firms should use more local materials to
reduce dependence on foreign suppliers, Giang said.
At the seminar, officials said local firms must raise
awareness and disseminate information about technical barriers to trade in
Viet Nam's most important export markets, like Japan, the US, Russia, the EU
and ASEAN, as Viet Nam becomes more integrated into the global economy.
In addition, the Government should develop programmes to
support key export industries, and help them overcome technical barriers to
spur export value and effectively penetrate the international market.
SBV warns about fake bank cards
The State Bank of Viet Nam (SBV) has advised its urban and
provincial branches and payment service providers nationwide to enhance the
inspection and monitoring process for card payments.
The central bank's Document No. 9626/NHNN-TT issued on
December 25 provides guidelines for the prevention of payments via fake
international bank cards.
The branches and service providers are required to check
places that accept card payments, especially those with short-term
operations. They must examine the conditions and procedures that govern the
operation of these sites that accept card payments, especially for those that
have just opened their doors. They must also categorise them to localise
risks.
The SBV requires these providers and branches to inform their
officers of the methods the criminals use to perpetrate card fraud. The bank
requested them to draft a plan to shift to a chip card system to help curb
the growing number of card fraud cases. These measures will also limit the
risk and losses for both parties involved in card transactions.
The organisations must also place warnings at automatic teller
machines (ATMs) and points of sale (POS) to warn their clients to be vigilant
against these criminals.
Branches of the central bank must enhance the examination and
monitoring procedures of ATMs/POS to ensure the security of the systems. They
have been requested to report cases related to the security of card payments.
The warning was issued in response to a recent card fraud
incident. The SBV revealed that a Vietnamese businessman had recently founded
a company and signed a contract with various banks to accept card payments.
The founder then used fake cards on payment card machines to perform
international transactions.
Short-term loan rates seen declining further in 2015
Many credit institutions forecast that the interest rates of
short-term loans in Vietnamese dong will continue to decline by approximately
1.3 percentage points next year.
This was revealed by a December survey on next year's
inflation prospects. The survey was conducted by the State Bank of
However, 20 per cent of credit institutions believed that the
interest rate could increase next year.
SBV Governor Nguyen Van Binh shared in a meeting of the
banking sector conducted this week that it would be difficult for the banking
industry to maintain the current interest rates next year. The economy
remains on the road to recovery, while the economic growth targets set for
2015 are higher than this year, which will boost credit demand.
The lending interest rate this year has declined by
approximately two percentage points, which brings the rate to the level
attained during the 2005–06 period.
The survey revealed that the exchange rate of the dong and
dollar in the inter-bank market is forecast to increase by an average of 1.6
per cent next year.
The survey also showed that many credit institutions
anticipate that the inflation in December next year will increase by 4.77 per
cent against the same period in 2014. This expected rate is lower than the
government's five per cent target set for 2015.
The institutions shared that the price adjustment of the goods
managed by the state and the price volatility of goods, including oil, in the
world market will be the main causes of inflation next year.
A change in monetary and fiscal policies as well as an
imbalance in demand and supply are also forecast to affect next year's
inflation.
Credit institutions also anticipated that GDP growth next year
will reach 5.86 per cent, which is 0.34 per cent lower than the National
Assembly's 6.2 per cent target.
The capital recorded a trade deficit of approximately US$13.8
billion in 2014, according to the municipal Statistics Office.
Ha Noi generated $11.07 billion from exports, up 11.7 per cent
year-on-year, while import value rose 4.3 per cent to $24.45 billion.
In September alone, the city exported $1.02 billion worth of
goods, increasing 5.8 per cent month-on-month. It spent $2.32 billion to
import goods, a rise of 13.7 per cent that resulted in a trade deficit of
$1.3 billion.
The capital's key export staples this year were computer spare
parts and peripherals with turnover of $1.6 billion, up 56.6 per cent;
garments and textiles with $1.58 billion, up 20.7 per cent and agricultural
products with $1.13 billion, up 17 per cent.
Other items recording encouraging export value included
petroleum ($815 million), electronics ($443 million), glass products ($331
million), coffee ($288 million), footwear ($249 million) and handicrafts
($192 million).
The city's major export outlets included the
The city mainly imported petroleum with $5.45 billion, steel
and iron with $1.18 billion, plastic with $772 billion, fertiliser with $342
million and chemicals with $333 million.
The Ministry of Industry and Trade's Import-Export Department
revealed that Ha Noi had the country's biggest trade deficit in 2013 with
$13.5 billion, five times higher than southern Ba Ria-Vung Tau Province with
$2.9 billion.
Last year, the capital city posted export turnover of $9.9
billion and imported $23.4 billion worth of goods. —
ETFs open new opportunities to help investors handle risk
Opportunities to invest in exchange-traded funds (ETFs) were
introduced to investors yesterday by the Ha Noi Stock Exchange and FPT
Securities Company.
"ETFs have arisen as an option for many investors due to
its ability to spread out risk, ensure transparency, provide diversified
portfolios and offer a low transaction cost," noted the exchange's
deputy general director, Nguyen Anh Phong.
Meanwhile, FPT Securities Chief Executive Officer Nguyen Diep
Tung said that the company would develop new products and improve its overall
technological system to support the investors in trading.
"This tool of investment is still new to Vietnamese
investors," disclosed the company's head of brokerage, Nguyen Van Dung.
He added that ETF certificates were typically purchased mainly by
organisations.
However, domestic products, such as ETFs, need to be created
to enhance the professional standard of the market. The release of the VN30
Index, the HNX30 Index and a series of sector indexes paved the way for ETFs.
Two Vietnamese ETFs, the VFMVN30 and SSIAMHNX30, are currently
simulating the VN30 Index and HNX30 Index.
VFMVN30 was listed on the Ha Noi Stock Exchange on October 6.
However, investors have not shown much interest in it. The certificate
plunged to 12.5 per cent as of Thursday, according to data compiled by the
Securities Investment newspaper. Its average daily traded volume reached only
156,000 units.
The decline may be the reason for calls from securities
watchdogs to hold ETF training sessions for investors.
The SSIAMHNX30, managed by SSI Asset Management, will
officially list fund certificates on the Ha Noi Stock Exchange next Monday.
VietABank modernises information system
VietABank has invested more than US$2 million to upgrade its
new generation data centre and e-banking service.
It will apply virtualisation technology and cloud computing in
the data centre. It will also add new facilities to its e-banking service.
Thai Nguyen Hoang Nha, the bank's chief information officer,
disclosed that 95 per cent of its applications were virtualised after the
centre's upgrade. Prior to the upgrade, only 10 per cent of the applications
were virtualised. "The virtualisation technology application helps the
bank's IT division enhance management and system operation," he shared.
Nha said the high-tech e-banking service would offer fast and
interactive facilities to customers.
International enterprises, including VMWARE, EMC, CISCO and
HP, have provided high-end technology solutions for the centre's upgrade. The
solutions help the bank decrease investment costs and the system's
operational expenditure, resolve numerous transactions and ensure its
readiness for risk responses.
Local firm launches budget smartphone
Masscom Viet
The phone, which has a five-inch screen, 13-MP camera and is
just 6.6-mm thick, is an optimal choice for consumers who are looking for an
affordable super smartphone that also has key features, the Vietnamese
company said.
The smartphone is powered by Android™ 4.4 KitKat, the latest
version of the world's most popular smartphone operating system, and has
stunning graphical performance, fast page transitions and an upgraded Google
Now service, featuring contextual search.
Priced at VND3 million (US$140), the aluminium uni-body phone
has a 1.3-GHz chipset, 1GB RAM and 16GB ROM.
The Ha Noi-based company said that the new phone will be
available from December 30. Buyers can order it online at www.massgo.vn with
free shipment within
SMEs backbone of Ha Noi's economy
Small and medium-sized enterprises (SMEs) account for over 95
per cent of businesses in Ha Noi and provide most jobs in the city, said Mac
Quoc Anh, vice chairman and general secretary of the Ha Noi Small and
Medium-Sized Enterprises Association.
Speaking at the 2014 Business Night in Ha Noi on Thursday, Anh
also said entrepreneurs were responsible for producing more than 38.9 per
cent of the city's gross domestic product (GDP), adding that SMEs were
instrumental to meeting the challenges posed by regional and global
integration.
On the occasion, municipal leaders granted Labour Medals and
certificates of merit on behalf of the Prime Minister to individuals and
collectives in Ha Noi for their outstanding achievements in business and
social activities.
Viet Nam enjoys trade surplus with Chile
Two-way trade between
During the January-November period,
Nguyen Thanh Quang, a representative from the Chilean
Consulate General's Trade Office in
According to Quang, Vietnamese goods could enter other Latin
American markets through
Lam Dong moves to draw investment
The Central Highlands
The conference brought together 200 domestic and foreign
businesses, which reached 16 deals covering various industries.
Lam Dong, DaK Lak, Dak Nong, Gia Lai and Kon Tum form the
In the first nine months of 2014, the Central Highlands
attracted 177 FDI projects with total registered capital of $926 million, 66
per cent of which went to Lam Dong.
The USD$128 million project for the investment, construction
and operations of the infrastructure for an industrial zone and Nam Tien
Phong port was granted an investment licence on December 24.
Quang Ninh's People's Committee Chairman Nguyen Van Doc hands
the investment licence to representative of the Tien Phong Industrial Zone
Joint stock company. - Photo quangninh.gov.vn
The project will begin construction in 2015 in Quang Yen town,
northern Quang Ninh city.
The wholly foreign-invested industrial zone and port is a
venture investment by the Tien Phong Industrial Zone Joint stock company. It
is a joint undertaking with Hong Kong's Rent A Port Company, Infra Asia
Investment Limited and
The project will cover an area of 487ha and be equipped with a
modern infrastructure.
Provincial People's Committee Chairman Nguyen Van Doc asked
authorities during the license granting ceremony on Tuesday to support the
investor in completing land clearance procedures and installation of
lighting, water and transportation systems, to make it easier to begin
construction next year.
Card payment device for mobile phones launched
Consumers now can make payments more conveniently thanks to a
new device called MPOS connecting to mobile phones and tablets with Internet
connectivity.
The new device was introduced by MPOS Vietnam Technology Joint
Stock Company, the Vietnam Bank for Industry and Trade (VietinBank) and the
HCMC Department of Industry and Trade at a workshop on card payment service
via mobile devices in HCMC on December 23.
MPOS functions like a normal point of sale (POS), but it is
smaller and can connect to cell phones and tablets. MPOS matches operating
systems such as iOS, Android and Windows Phone. It allows clients to use
MasterCard, Visa, JCB and ATM issued by banks in
MPOS is suitable for small enterprises, stores and family-run
businesses thanks to low prices, at VND2.2 million (US$103) for a MPOS linking
headphones and VND2.4 million (US$112) for the one connecting via Bluetooth.
The prices are much lower than VND5 million (US$235) for a wired POS and
VND10 million (US$470) for a wireless device.
Do Van Khoi, general director of MPOS Vietnam Technology,
which supplies the new device, said the firm had sold over 2,000 MPOSs to
VietinBank and Saigon Thuong Tin Commercial Bank (Sacombank).
In
Experts have stressed the need to revise and adjust the master
zoning plan for the Mekong Delta to facilitate the region to achieve better
socio-economic development and better cope with climate change.
Speaking at an international seminar on planning for the
Mekong Delta until 2030 with a vision towards 2050 in Can Tho City on Monday,
Deputy Minister of Construction Phan Thi My Linh said the 2009 zoning plan
for the delta is no longer appropriate for the region, so it is important to
adjust it.
Architect Nguyen Viet Thang from the Southern Institute for
Construction Planning emphasized the need to change the current zoning plan
to improve and promote the delta’s important role and development in line
with the country’s green growth strategies and its adaptation to climate
change and rising sea levels as the Mekong Delta will be one of the deltas
most affected by global warming.
Besides, a new zoning plan is expected to help resolve the
problems related to development in the region.
“We will consider all the ideas and suggestions for adjusting
the zoning plan and propose proper solutions to solve the problems,” Thang
said.
Bruno De Meuider from
He also pointed out that localities in the delta have been in
a race to develop industrial parks to attract investors but occupancy at
these industrial parks is as low as 30-40%. The scattering of resources and
investments has constrained economic development in the region.
He urged localities in the delta to join forces and
concentrate resources to drive growth in the whole region.
As the Mekong Delta is one of the world’s important deltas in
terms of biodiversity and potential for development, a proper zoning plan
will help it make full use of its advantages.
Martijin Van De Groep, chief advisor to the Mekong Delta Plan
under the Netherland-based firm Royal Haskoning, suggested the new zoning
plan should include targets for development of the marine economy in the
delta based on its strong advantage in this field.
He proposed planting trees instead of building cement
embankments along the river banks of the Mekong Delta to minimize impacts of
climate change and rising sea levels and aid shrimp farming under the shadow
of these trees.
Experts at the seminar also emphasized it is important to
establish a strong linkage between provinces in the region to achieve
sustainable development in the Mekong Delta, the country’s biggest rice
growing area.
Emerging technologies at the forefront of food and beverage
sector
Despite the global economic downturn over recent years,
This has in turn provided the incentive for world retail
giant’s to infuse billions of US dollars into
Notably there are many who suggest that the food and beverage
sector should be developed in tandem with the advancement of the food
packaging and equipment industry, which would have a synergistic effect
promoting more economic efficiencies for both sectors
Therefore, the food package and equipment industry is now one
of the Vietnamese people’s prime concerns. Paper carton production capacity
has met just 51% of the demand while the quality of paper materials remains
poor.
For the plastics sector, more than 80% of materials which are
used to produce plastic packaging, have to be imported from other nations.
Material import costs for metal packaging also account for some 80% of
production costs.
To deal with these difficult situations most effectively, the
International Processing, Filling and Packaging Technology Exhibition and
Conference for Vietnam (ProPak Vietnam 2015) has suggested installing the
most advanced technologies for the food, beverage and pharmaceutical industry
in Vietnam in compliance with international nutrition and food safety
standards.
Professor Luu Duan, a representative from the Vietnam
Association of Food Science and Technology (VAFoST) said the association
would attend the ProPak Vietnam 2015 on April 1, 2015 to learn about the
latest in processing technologies towards nutrition and food safety.
The event will also focus on breakthroughs of modern
technologies and machines, training and development of human resources for
the food industry with a view towards the establishment of the ASEAN Economic
Community (AEC) in 2015.
According to many leading experts, although the processing and
food package industry has seen bright prospects for development, proper
investment for the sector remains limited. At present, the country has around
6,000 processing establishments including over 2,000 farm produce and 570
seafood units.
Notably, some sectors such as seafood, cashew nut and pepper
have met the requirements for quality in demanding markets- the
Due to financial difficulties, these businesses have failed to
increase equipment and machinery investment to improve the product value and
businesses have a need for more assistance in the processing and packaging
fields. To this end, ProPak
Mr. BT Tee, Deputy Chief Representative of Singapore
Exhibition Services in
To achieve these goals, he emphasised the need to raise local
producers’ awareness about food safety and quality control procedures,
international standards and certificates. Accordingly, the upcoming ProPak
Vietnam 2015 will exhibit modern technologies from a wide variety of
countries.
National
single window system launched
The Ministry of Finance and the Ministry of Industry and Trade
have jointly launched their national single window system.
Speaking at the launching event in
The Deputy Prime Minister described national single window
system as an important component of the government’s administrative reform.
“All ministries need to get prepared and complete their
joining to the single window system 6 months ahead of schedule to meet
domestic economic requirements.”, he said.
Ministries of Agricultural and Rural Development, Health,
Natural Resources and the Environment will be ready to join the ASEAN single
window system by next June. The remaining ministries will join the system by
2016, enabling connectivity of administrative procedures in imports and
exports within the ASEAN.
Vietnam’s trade deficit with Thailand broadened by US$3.50
billion in the 10 months leading up to November as the country’s imports
continued to outpace exports, according to the most recent statistics from
Vietnam Customs.
Telephones, mobile phones and parts imports notched a 75.3%
on-year increase, grossing US$692 million for the period. Meanwhile,
However, the trade volume with
Vietnamese enterprises are expected to increase their
investment pledges in
The figures were estimated by the Association of Vietnamese
Investors in
The association’s chairman Tran Bac Ha said as of last year,
Vietnamese firms had pledged some US$3 billion for their projects in the
neighboring country.
More than 50 large projects have come online, including the
rubber farms of Hoang Anh Gia Lai Group and Vietnam Rubber Group, Five Stars
International Fertilizer Company,
The remaining projects are in the financial, aviation, and
telecommunications sectors.
At the meeting with President Sang on December 25, Ha
suggested the two countries review the bilateral economic agreements signed
between the two governments to find ways to facilitate the operations of the
association’s member firms in
The two governments should sign an agreement on double
taxation avoidance and swiftly complete related procedures so that the
Investment Promotion and Protection Agreement between
According to AVIC, bilateral trade between the two countries
grew 30% annually in 2009-2013 on average and the association put two-way
trade this year at more than US$3.5 billion.
Economy forecast to return to high-growth path next year
“Economic growth has become stable this year when the National
Assembly (NA) passed a number of important revised laws on business and tax.
There have been positive changes on the world’s economy, especially when oil
prices tumble,” Dung told a seminar on business opportunities and challenges
next year in
Dung named three foundations to project better economic growth
for
“The growth of 5.9% is very special. Between 1985 and 2014,
the country suffered an economic downturn when the GDP growth was below 6%
and then recovered when the growth rate exceeded 6%.”
During the 1985-1990 period, it took six years for the
nation’s economy and one year more in 1991 to rebound and accelerate, and the
same thing happened in 2008-2013. Therefore, after this year, the economy
will be back to strong growth, he predicted.
Secondly, inflation has been curbed at a low level.
When inflation is higher than 10%, economic growth would slow,
and even the inflation rate of 8-9% would erode economic growth, Dung said.
Finally, it is easier for businesses to take out bank loans as
interest rates are getting lower.
Despite some enterprises’ complaints about difficult
borrowings, a recent survey conducted by VCCI Can Tho showed that bank loans
have been made easily accessible this year.
Dung said the stable exchange rate between the U.S. dollar and
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Chủ Nhật, 28 tháng 12, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét