How to control inflation for the rest of the year was the hottest issue
at a cabinet meeting held in Hanoi from Dec. 1-2 as CPI in the past
11 months almost hit the double-digit mark at 9.58 percent.
Domestic gold prices soared on Oct. 6 to a new record of 33 million VND
per tael (1,690 USD), an increase of 1.4 million VND (72 USD) per tael
over Oct.5's price, as speculators created a run on gold shops.
Numerous managers, economists and businesspeople gathered at a seminar
in Ho Chi Minh City on September 9 to discuss the opportunities and
challenges as well as Vietnam ’s policies and measures after the
economic crisis.
Co-hosted by the Vietnam
Investment Review (VIR) and the Association of Foreign-invested
Enterprises, the seminar also served as a forum for the delegates to
analyse the factors affecting the flow of investment and trade.
Prime Minister Nguyen Tan Dung has
requested drastic
measures to ensure the macroeconomic stability, prevent high inflation
and attain a GDP growth rate of 6.5 percent.
Vietnam’s long-term economic
prospects remain positive, yet the next two years will be challenging,
according to the Economist Intelligence Unit (EIU).
IMF Deputy Managing Director Takatoshi Kato has confirmed the fund’s pledge to
continue providing technical and financial assistance to Vietnam in economic
development, controlling foreign exchange rates and meeting other requirements
of the country’s development.
Vietnam’s economic performance in 2009 has been highlighted by its positive growth, stable inflation rate, high industrial output and success in attracting foreign investment despite the negative impacts of the global economic crisis.
According to the Ministry of Planning and Investment, the gross domestic product (GDP) is expected to expand by around 5.2 percent, 0.2 percent higher than the target set by the National Assembly, the lowest growth for many years.
The Governor of the State Bank of
Vietnam, Nguyen Van Giau answered NA deputies’ queries about interest
rate subsidies and other monetary policies at the 6th session of the
12th National Assembly on Nov. 17.
Politics
