How much more market intervention in store? (21-05-2008) by Binh Minh Customers shop at a Coopmart in An Giang. — VNA/VNS Photo Hong Ky Ha Noi — Policy makers are pondering whether to continue controlling inflation by administrative measures after June – and to what extent. June marks the expiration of a prime ministerial order for keeping a cap on the price of 10 essential goods. The order, issued in March, regulates the cost of such items as petrol, electricity, coal, water, bus tickets, cement, steel, school fees and hospital fees. It was issued following continued high monthly inflation, which reached 3.6 per cent in February and 3 per cent in March. However, the monthly Consumer Price Index growth in April stood at a relatively low 2.2 per cent. "There are some signs that the Government’s efforts to control inflation have started making impacts," Asian Development Bank country director Ayumi Konishi told Viet Nam News. However, concern has been … [Read more...] about How much more market intervention in store?
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Amendment to Law on Enterprises 2005: Single Unit Mechanism for Business Registration System Management Is Essential "The Law on Enterprises 2005 has a positive impact on society, especially business activities in the country. In the process of equitising enterprises in the past years, the Law on Enterprises has effectively played its full role and facilitated lawful business transformation. However, this law was enacted nearly 10 years ago and many State policies have been changed to catch up with the process of deeper international integration and higher level of business management. To create a favourable, convenient and healthy business environment and not to be left behind, the amendment to the Law on Enterprises 2005 to suit the current situation is essential." This is the opinion by Mr Mai Dinh Manh, General Secretary of the Vietnam Electrotechnical Industry Association (Velina), at a seminar entitled “Collecting opinions of business community and experts on … [Read more...] about Amendment to Law on Enterprises 2005: Single Unit Mechanism for Business Registration System Management Is Essential
Bullet train gets a second look The Ministry of Transport is conducting a new feasibility study for the construction of North-South Express Railway, with a focus on two initial sections – Ha Noi - Vinh and HCM City - Nha Trang. The study has been initiated after the National Assembly last June rejected the complete 1,570km North-South Express Railway project, saying the cost of US$55.85 billion was prohibitive. "We have to build an express railway, but every step of the construction will be studied carefully and properly and we are conducting a new feasibility study for that," said Transport Minister Ho Nghia Dung. He told the Sai Gon Giai Phong (Liberated Sai Gon) newspaper that the study would define clearly the technology to be used, capital mobilisation, project process and construction duration as required by the National Assembly. Dung estimated the study would take two to three years to complete and would include an investigation into the country's resources and … [Read more...] about BUSINESS IN BRIEF 13.1
Vietnam attends tyre exposition in India Vietnamese-based Da Nang Rubber Company (DRC) is showcasing its made-in-Vietnam products at the Tyrexpo India 2016, which is being held in New Delhi between June 14 and 16. The fair gathers together nearly 100 businesses from India, the United Arab Emirates, the UK, Thailand, Indonesia, China and Vietnam. DRC is the only company in Vietnam to have acquired an ISI certification mark for industrial products that conform to the Indian Standard. Only ISI products are allowed to enter the Indian market. Products by DRC are available across 63 provinces and cities in Vietnam and 35 countries worldwide. Vietnam hopes to expand economic ties with RoK: Deputy PM Deputy Prime Minister Vuong Dinh Hue has affirmed Vietnam's wish to further elevate its comprehensive economic partnership with the Republic of Korea (RoK), during a roundtable on business cooperation between the two countries in Hanoi on June 15. He called on RoK businesses to invest more in … [Read more...] about BUSINESS IN BRIEF 17/6
Anemic recovery in emerging markets to weigh heavily on global growth in 2016 Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9% pace, from 2.4% growth in 2015, as advanced economies gain speed, according to the World Bank’s January 2016 Global Economic Prospects. Simultaneous weakness in most major emerging markets is a concern for achieving the goals of poverty reduction and shared prosperity because those countries have been powerful contributors to global growth for the past decade. Spillovers from major emerging markets will constrain growth in developing countries and pose a threat to hard-won gains in raising people out of poverty, the report warns. “More than 40% of the world’s poor live in the developing countries where growth slowed in 2015,” said World Bank Group President Jim Yong Kim. "Developing countries should focus on building resilience to a weaker economic … [Read more...] about BUSINESS IN BRIEF 10/1