Vietnam Business News

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• 4 steps to a better economy
• Learning to look on the bright side
• 13-14 billion USD in FDI expected in 2013
• Remittances in 2012 reach US$ 9.5 billion
• Vietnam to improve FDI efficiency
• MPI sets economic targets for 2013
• Eliminating bad debts not enough for Vietnam: HSBC
• U.S. mulls anti-subsidy lawsuit against Vietnam shrimp
• Dung Quat oil refinery targets 6.5 million tonnes of products
• Hoa Lac hi-tech park attracts investment of $2.5 billion

4 steps to a better economy Posted: 06 Jan 2013 09:01 PM PST Curtailing inflation provided the silver lining to a stormy economy in 2012. But can Vietnam find sunnier days ahead? Le Xuan Nghia, member of the National Advisory Council for Monetary Policies, suggests four guiding principles for navigating the economic ship of state in the new year. In 2012, despite the government's support on credit, taxes, [...]

Learning to look on the bright side Posted: 06 Jan 2013 09:00 PM PST Economic experts are chewing over the best-case scenarios for monetary and fiscal policies in 2013. Maritime Bank's Economic Research Centre director Trinh Quang Anh said open-market operations were the most powerful management tool to boss Vietnam's monetary market. Anh, however, said this tool was almost paralysed in 2012, as they were only revived in late [...]

13-14 billion USD in FDI expected in 2013 Posted: 06 Jan 2013 09:00 PM PST Vietnam expects to attract 13-14 billion USD in foreign direct investment (FDI) this year, according to the Ministry of Planning and Investment (MPI). Do Nhat Hoang, head of the Foreign Investment Agency, further said at a press briefing in Hanoi o­n January 4 that the ministry will focus o­n improving the quality and effectiveness of [...]

Remittances in 2012 reach US$ 9.5 billion Posted: 06 Jan 2013 07:56 PM PST The State Bank estimated that total remittance amount in 2012 stood at only US$ 9.2-9.5 billion, less than the expected figure of US$ 11 billion, Deputy Director of the Ho Chi Minh City branch of the State Bank Nguyen Hoang Minh said on January 4th. He also released that Ho Chi Minh City received some [...]

Vietnam to improve FDI efficiency Posted: 06 Jan 2013 07:55 PM PST The Ministry of Planning and Investment (MPI) will finalise a draft resolution this month to improve the management and use of foreign direct investment (FDI). Do Nhat Hoang, Head of the MPI's Foreign Investment Agency, told the press on January 4 that the resolution is needed to combat transfer pricing (selling goods or services among [...]

MPI sets economic targets for 2013 Posted: 06 Jan 2013 07:55 PM PST Vietnam's goals for 2013 are to strengthen its macroeconomic stability, cut level of bad debt, reduce inflation, and strive for GDP growth of 5.5 percent and a 10 percent increase in export turnover. The Ministry of Planning and Investment (MPI) set these targets at a press conference in Hanoi on January 4, during which it [...]

Eliminating bad debts not enough for Vietnam: HSBC Posted: 06 Jan 2013 07:52 PM PST HSBC Global Research in a just-released report says Vietnam's effort to eliminate bad debts in 2013 is not enough as the fundamental issue is to improve the efficiency of the economy to lure foreign capital for long-term development. HSBC expects a fiscal stimulus to spur growth is unlikely in 2013 as tax revenue has been [...]

U.S. mulls anti-subsidy lawsuit against Vietnam shrimp Posted: 06 Jan 2013 07:52 PM PST A group of U.S. companies last week filed an anti-subsidy lawsuit against warm-water shrimp products imported from Vietnam, China, Thailand, Indonesia, Malaysia, India and Ecuador, the law firm Mayer Brown JSM said. The anti-subsidy action is considered on top of the anti-dumping tax on warm-water shrimp of Vietnam currently imposed by the U.S. The U.S. [...]

Dung Quat oil refinery targets 6.5 million tonnes of products Posted: 06 Jan 2013 07:51 PM PST The Dung Quat oil refinery plans to produce 6.5 million tonnes, a quantity that would earn VND120 trillion and contribute VND16.8 trillion to the 2013 State budget. This is the highest production goal set by the refinery since it officially entered operation in early 2009. Dinh Van Ngoc, Director General of the Binh Son Refining [...]

Hoa Lac hi-tech park attracts investment of $2.5 billion Posted: 06 Jan 2013 07:50 PM PST The Hoa Lac hi-tech park has so far granted investment licences for 68 projects with VND52 trillion ($2.5 billion) total registered capital. Seven projects in the Hoa Lac hi-tech park with a total capital injection of $999 million received investment licences in 2012 ( Image: Nissan Techno Vietnam ) In 2012 alone, seven projects with [...]

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