Vietnam’s macroeconomic stabilisation will top the agenda of the mid-term Consultative Group Meeting this week in central Ha Tinh province.
Vietnam is increasingly attracting world attention as one of the fastest growing economies in Asia. It was recently ranked 34th in an Ernst & Young report into the globalisation of major economies around the world.
The import of so-called inessential luxury goods is on the cards due to a favourable low foreign exchange rate.
Expensive fuel, materials and high interest rates will slow Vietnam’s industrial production during the second quarter of this year.
Nissan today announced a 35 per cent year-on-year leap in European sales for the first four months of 2011 and record market share for April.
A dearth of commercial loans has forced state-run Electricity of Vietnam to cut one-fifth of its planned investment for power generation and transmission projects this year.
Korean Teakwang Vina Industrial is getting a grilling over high costs, fuel supply and waste treatment for its $2.48 billion Nam Dinh 1 coal-fired power project.
Indian companies are checking out Vietnam to identify investment opportunities and boost a bilateral trade relationship worth $2.75 billion last year.
Site clearance woes are proving thorns in the side of billion-dollar foreign-invested steel projects.
China is continuing to be tapped to help solve Vietnam’s power crisis.
“Unless both sides can reach an agreement on the issues, an investment certificate will be impossible”
Singapore is now the top foreign investor in Vietnam with more than $4 billion in registered capital last year and $1.06 billion in registered capital in the first two months of 2011.
Formosa Ha Tinh Steel Corp has set its sights on increasing exports as a way of maintaining its much-needed foreign exchange balance.
The Asian Development Bank on March 11 signed a $540 million loan agreement with the Vietnamese government for construction of an urban mass rapid transit line to reduce traffic congestion in Ho Chi Minh City.
The Vietnamese economy will still prosper in 2011 despite difficulties regarding the government’s macroeconomy management and infrastructure development.