VietNamNet Bridge - Although we have advocated equitization of state-owned enterprises (SOEs) and have a Securities Law, independent expert Nguyen Gia Hao still worries about losing state money in auction of public assets. Several weeks ago, a businessman, through acquaintances, met independent economic expert Pham Chi Lan to ask for her comments on the draft Auction Law. Lan refused and recommended that he talk to her husband - independent economist Nguyen Gia Hao, a former advisor of the late Prime Minister Vo Van Kiet. Unlike Lan, who specializes in macroeconomics, Hao specializes in consultation to businesses. Hao spent four days to study the draft Auction Law, which consists of 81 articles. A step forward to a market economy Hao insisted that with the Auction Law, Vietnam has made the next step into the market economy, in terms of the law, under which the state is only responsible for management, not doing business. The previous step was the equitization of SOEs, through the … [Read more...] about Will the state lose money in the auction of state assets?
Wealth definition of economics
Vietnamese have long held the belief that “Health is the mother of success” and a new report released today by leading research firm Cimigo shows this belief holds as true today as ever. “The report shows 87 per cent of Vietnamese prioritising their bodies over their bank balances, somewhat surprising in the fast emerging consumer culture that we see around us every day,” said Cimigo managing director Joe Wheller. The 'mother of success' depends upon a healthy body housing a healthy mind, and with that in mind, 78 per cent of Vietnamese surveyed prioritise education over wealth. “If a conclusion can be drawn from these findings,” continued Joe. “It would be that Vietnamese prioritise health, education and love well ahead of wealth as important drivers of a happy life.” Fiscal conservatism is widely seen as the route to this happy pecuniary life, with respondents proving themselves to be very financially aware, and careful savers of … [Read more...] about Health is the mother of success
Readers give Viet Nam News their views on the optimism Vietnamese people express about the country's prospects in the coming years in recent polls. William Ribbing, American, Florida You asked, published every Tuesday, gives readers an opportunity to ask – and Viet Nam News to answer – questions from visitors or expatriates. Your Say, published on Fridays, enables readers to express opinions on a topic or issue raised by the editor. Next Week: As Tet (Lunar New Year) holiday approaches, a warm spirit pervades the city. Are you staying in Viet Nam for the holiday? Tour operators and travel agencies have designed tour packages to attract foreign visitors to explore traditional festivals during Tet. Tourists will be able to visit a local household that specialises in floriculture, have a traditional meal with the family and learn to cook traditional foods. – Have you experienced tour packages in Viet Nam? If so, could you share your experience and memories of it? - … [Read more...] about Growth and the power of positive thinking
VietNamNet Bridge - China’s first operational aircraft carrier, the ex-Soviet Varyag, will only be ready for its maiden voyage next month, instead of the beginning of last week as planned. The Hong Kong Commercial Daily said the carrier’s maiden voyage has been put off for a month due to mechanical problems. "As this is our first aircraft carrier, it's not abnormal that the vessel encounters certain problems. That's why we have never formally announced any timetable for its trial navigation," an unidentified Chinese military official told the paper. He added that the problems the vessel were not serious and will not affect future operations. "We have exercised extreme caution in dealing with technical details as we want the ship to make its debut in the best possible shape. We don't want it to go wrong on its maiden cruise," he added. He said that while Chinese authorities provisionally plan to have the carrier conduct its first trial voyage in August, no … [Read more...] about Maiden voyage of China’s first aircraft carrier delayed
Billionaire investor George Soros said China’s economy is headed for a hard landing, a slump that will worsen global deflationary pressures, drag down stocks and boost U.S. government bonds. "A hard landing is practically unavoidable," he said in an interview with Bloomberg Television’s Francine Lacqua from the World Economic Forum in Davos on Thursday. "I’m not expecting it, I’m observing it.” Soros, who built a $24 billion fortune through savvy wagers on markets, said he’s been betting against the Standard & Poor’s 500 Index, commodity-producing countries and Asian currencies, while buying Treasuries. China’s economic downturn will have spillover effects on the rest of the world, even though the nation’s policy makers have resources to manage the domestic fallout, he said. The former hedge fund manager turned philanthropist joined a chorus of top investors -- including DoubleLine Capital’s Jeffrey Gundlach and Scott … [Read more...] about Soros says China hard landing will deepen the rout in stocks