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Tag Archive for ‘Income’

Vietnam Lawmakers Demand Further Spending Cuts

Profligate government to blame for Vietnam missing deficit target, not lower budget revenues Construction workers build a bridge in Hanoi. Legislators say the government should reduce unnecessary spending and save money for important infrastructure projects. Photo: Reuters Vietnamese legislators are holding the government squarely responsible for the budget deficit exceeding the annual target this year, saying the primary factor is a lack of fiscal discipline. The state budget deficit as of mid-October was estimated at VND155 trillion (US$7.4 billion) by the General Statistics Office. That is 10.7 percent higher than the target for the whole year approved by the National…

HCM City outlines big plan for Thu Thiem area

Ho Chi Minh City’s adjusted construction planning to 2025 has given the Thu Thiem new urban area an extremely important place in the city’s development course. The area was outlined to form part of the city’s central urban area and at the same time operate as a major economic and financial centre, which is expected […]

Vietnam Franchise Market Warms Up, To Boom In Near Future

Newly emerging and potential–Vietnam has become a lucrative market for foreign franchisors. However, the high retail premises rents would challenge them. Foreign food groups have been flocking to Vietnam to seek business opportunities through franchising contracts. The US fast food Burger King has set up its first shop on Pham Hong Thai Street in district […]

Vietnam Deputies Rise To Question Time

HA NOI (VNS)— With burning issues surrounding petrol problems, inventory clearances and the inundation of low-quality products in the domestic market, yesterday’s National Assembly question and answer session was a heated affair. Minister of Industry and Trade Vu Huy Hoang was the first member of the Government summoned to answer queries raised by NA deputies. Hoang admitted there are still shortcomings in market management, causing the deluge of low-quality and…

WB supports Vietnam’s climate change response

The World Bank last week approved a credit of US$70 million for the second Vietnam Climate Change Development Policy Operation, part of a series of three operations to support Vietnam’s institutional development which will help the country respond to climate change. The credit provides parallel financing under a multi-donor budget support program for the Government’s […]

Vietnam Officials’ Asset Declaration Still Ineffective In Anti-Corruption Fight

Asset declarations of state officials has remained formal, and ineffective to the country’s fight against corruption, as many National Assembly deputies pointed out at a recent discussion. Deputy Nguyen Dinh Quyen, Deputy Head of the National Assembly Legal Committee, said asset declaration regulations have been in the books for seven years, but they do not address income and asset control. Meanwhile, asset declaration is just one part of income control. He also proposed clearly regulating the accuracy of asset declaration. “As we can see, currently the asset declaration is assigned for some officials, which is difficult to ensure the accuracy…

Need to urgently establish asset management company under SBV to tackle Vietnam’s bad debts

When bad debt threatens the safety of the banking system and the stability of the macro economy, the bad debt settlement needs to have the intervention of the government, even using the state budget or internal or external loans. Seeing that bad debt of banking industry is caused by various reasons and that it reflects […]

Vietnam Needs To Change The Approach To Food Security?

The current approach ignores the opportunity cost spent in maintaining rice production as well as income and benefits gained from the pursuit of current competitive advantage of Vietnam. It should not exaggerate the political, social, economic importance of food security in Vietnam. The famine, food shortages of the 1970s and 1980s have caused impacts on […]

Bloomberg: Challenges China’s New Leadership Faces

On Friday, I was on Bloomberg TV talking about China’s latest economic data for October (at the time of my interview, only the inflation figures had been announced), and some of the key challenges facing China’s ruling party as it begins its once-in-a-decade leadership transition.

Vietnam Real Estate Developers May Be Asked To Stop Projects To Reduce Supply

The Ministry of Construction has proposed the government to take necessary measures to restrict the supply in order to help warm up the real estate market. Believing that the oversupply is the main reason that has frozen the real estate market, the ministry believes that the current situation would be improved only if the government […]