wheel turns against the auto sector

Wheel turns against the auto sector

Inconsistent and unpredictable tax policies have pushed automobile producers and dealers’ backs against the wall. Toyota, Ford and other local automobile producers have recently decided to increase prices of locally-produced automobiles while several importers have scaled back shipments of brand new and used cars.
government petrol price move may add more fuel to inflationary fire

Government petrol price move may add more fuel to inflationary fire

The government has scrapped its subsidisation of retail fuel prices, allowing them to float in line with the international market and placing greater pressure on businesses and already surging inflation.
blackouts to darken economy

Blackouts to darken economy

Serious power shortages are forecast this year leading to blackouts which will bite into the economy. Dinh Quang Tri, Electricity of Vietnam’s (EVN) deputy general director, said power shortages would be felt more acutely than previous years as the economy was expected to grow by around 9 per cent in 2008.

Firms confident to ride out CPI fears

A high consumer price index could hurt enterprises in the short-term, but is unlikely to affect their long-term business activities. Figures released by the General Statistics Office indicated that the consumer price index (CPI) slid out of control this year with an increase of 9.45 per cent in the first 11 months.
state bites into food safety fears

State bites into food safety fears

Health officials have asked for special attention to food safety and sanitation as the number of food poisoning and acute diarrhoea cases rise.
tax dodgers heavily tax the states coffers

Tax dodgers heavily tax the state’s coffers

Despite measures to beat tax dodgers, the state is still losing large amounts of money because of company fraud that involves generating fake invoices.
twin factors to energise the economy

Twin factors to energise the economy

An improved business climate and energy efficiency would help the country reach its GDP target for this year and remove hidden economic risks.
a winning vision for the future

A winning vision for the future

The newly ratified cabinet, with younger faces and astreamlined administrative system, must face up to sustaining a high economic growth rate in the context of Vietnam’s WTO accession.

MPI set to postpone deadline

Foreign limited liability firms struggling to meet a looming deadline to convert into shareholding companies, or re-register themselves under the new Investment and Enterprise laws, can breathe a sigh of relief.
inflation may hit growth

Inflation may hit growth

Economists last week warned that high inflation could endanger the Vietnamese economy and called for the government to apply tighter monetary policies to curb price rises.

Strategic investor safety net

Strategic investors will no longer be granted preferential pricing when purchasing stakes in reshuffling state-owned enterprises, according to a government decision which aims at minimising possible state capital losses.
foreign fund managers may get wings clipped

Foreign fund managers may get wings clipped

Foreign fund management companies can expect to be strictly monitored under a regulation being drafted by the State Securities Commission.

Trade tariff reductions to hit treasury where it hurts

The Ministry of Finance last week announced a more specific plan on tariff reductions, which will result in sharp cuts in state revenues when Vietnam implements its WTO commitments.

MoF gears up for bond issue

The government is expected to issue a second round of foreign currency bonds on the international market by the year’s end to take advantage of global interest in Vietnam’s robust economy.
state all set to make motorbike policy u turn

State all set to make motorbike policy U-turn

The existing ban on new motorbike assembling and production projects may be removed soon in a bid to turn the country into a leading motorbike export manufacturing centre, according to a ministerial strategy.