Vietnam Economic Report 2012 announced

A workshop to launch the Vietnam Annual Economic Report 2012 was held in Hanoi on May 24.
A workshop to launch the Vietnam Annual Economic Report 2012 was held in Hanoi on May 24.

Thereport compiled by the Vietnam Centre for Economic and Policy Research(VEPR) provided analysis and comment on three economic restructuringprogrammes, focusing on public investment, state-owned enterprises andcommercial banks, as well as difficulties and shortcomings during theimplementation.

Director of VEPR, Dr. Nguyen Duc Thanh, saidVietnam’s economic growth rate in 2012 is likely to be 5.1 percent, thelowest ever since 2000 and the inflation rate, 6.2 percent..

In his opinion, the current growth model is highly dependent onineffective State-run enterprises, which weakens economic effectiveness.The basic question of the macro-economy is to deal with bad debts inthe commercial bank system and create conditions for the market to selfrestructure the enterprises, with the support of bankruptcy and mergerand acquisition procedures.

The report recommended thatVietnam should have a clear view of the new development model, aswell as suitable support mechanisms for successful implementation ofeconomic reform and overcome the challenges posed by restructuring.

However, the World Bank gave a more optimistic forecast on Vietnam’sgrowth in 2012 with an inflation rate lower than 10 percent and economicgrowth of 5.7 percent.-VNA

See more

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.

Rice is one of Vietnam's exports to Cuba. (Photo: VNA)

Vietnam-Cuba Business Forum held in Hanoi

Addressing the event, Cuban Ambassador Rogelio Polanco Fuentes affirmed that Cuba will always stand alongside the Vietnamese Government and business community in their efforts to achieve the challenging target socio-economic goals.

The private sector is expected to make breakthroughs for national development. (Photo: VNA)

Party official anticipates breakthroughs in private economic sector

With the Politburo set to issue a dedicated resolution on the private economic sector, there should be a reformed approach to action plans, according to Secretary of the Party Central Committee and head of Head of its Commission for Policies and Strategies Tran Luu Quang.

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Cuban commerce official optimistic about bright future of Vietnam-Cuba cooperative ties

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.