VN’s economy robust, PM tells Wall St Journal (28-09-2007) NEW YORK — In an interview with the financial daily Wall Street Journal on September 24, PM Dung stated that after 20 years of integration into the international economy, Viet Nam has made major socio-economic strides, and possesses one of the most robust economies in the region. The country’s GDP has quadrupled in 20 years. In 2006, the GDP saw an 8.2 per cent growth rate, ranking second in the region after China, Dung stated. He explained Viet Nam’s success with economic improvement by way of its shift in management; the country’s transition from a central economy to a multi-sector market economy; abandoning self-contained development and instituting open policies in order to actively integrate into the international economy. He said the Vietnamese Government has maintained a stable socio-political environment during the renewal process and has readily and willingly responded to policy and law … [Read more...] about VN’s economy robust, PM tells Wall St Journal
Is VN safe from crisis on Wall St? (19-09-2008) by Le Thanh HA NOI — The US financial sector is deteriorating swiftly. There have been a number of major casualties: Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, and American International Group (AIG). Earlier, the question was, how can we save these financial institutions? The question today is, who’s next? Will Viet Nam be affected? The US, a super economy, accounts for a quarter of the world’s gross domestic product and 15 per cent of the world’s combined import value, so its impacts are felt everywhere in trade, investment and finance. The US is Viet Nam’s largest export market, representing nearly 20 per cent of the country’s export value. The US has been Viet Nam’s largest investor for many years – including investments through third-party countries. So the US economic crisis directly and indirectly impacts on the global economy in general and Viet Nam in particular. … [Read more...] about Is VN safe from crisis on Wall St?
Local Index down despite Wall St rally (13-02-2009) HA NOI — The sinking HCM City stock market tread water yesterday, ending the day off just 0.05 per cent to close at 276.09 points. Many analysts believed that Wednesday’s rally on Wall Street, in response to the US Congress’ compromise on a US$789 billion economic stimulus bill, saved the domestic market from plunging further. Although concerned with declining business results published by some listed firms, investors stepped up their purchases of a few blue chip shares, helping Pha Lai Thermal Power (PPC), Phu My Fertilisers (DPM) and Thu Duc House (TDH) buck the prevailing trend and gain some points yesterday. Trading volume rose to 7.8 million shares, worth VND159.89 billion ($9.1 million). Refrigeration, Electrical and Engineering (REE) became the most-active share, with 1.25 million traded, followed by Sacombank (STB) with 477,560. "The HCM City Stock Exchange put REE, with other three firms, on observation and … [Read more...] about Local Index down despite Wall St rally
VN shares track Wall St decline (03-10-2009) HA NOI — Continuing heavy sales sent the VN-Index down for a third consecutive day, as trading on the HCM City Stock Exchange once again tracked the downturn on Wall Street. "The decline of the US market overnight only added to the pressures from the current cycle of profit-taking," said independent analyst Nguyen Tien Dung. Major securities firms and institutional investors were pulling capital out of stocks since recent gains had failed to meet their targets of doubling their investments, said Dung. "Once the market began signalling a downturn, securities companies began urging major investors to liquidate shares as quickly as possible, increasing profit-taking pressures," he said, noting significant sales of blue chip shares over the past few days. The VN-Index ended the day yesterday down 3.38 per cent to 549.73. Daily volume on the HCM City market surpassed 71 million shares, worth a combined VND3.8 trillion (US$213.5 million), … [Read more...] about VN shares track Wall St decline
by Kieu Van The social movement "Occupy Wall Street" began spontaneously in New York City but now it's believed it will influence the 2012 US presidential election campaign. The movement, which has increase in both the quantity of participants and the quality of the demonstration, broke out as the presidential election campaign trips were looming. So the question – how long will the movement exist – will depend on the US political parties. Maybe it will last through to the 2012 election year. The Occupy Wall Street protesters demanded an end to economic inequality, corporate greed and the influence of corporate money in government. They follow three trends. First, the protesters demand Democrats and President Barack Obama, as well as Republicans, correct the strategies and tactics of running for President. They will make full use of the opportunity to constrain bank owners in Wall Street to seek changes in financial regimes. This reform could help the US economy recover … [Read more...] about Wall St protests to impact on US election