The Hanoitimes - Senior government officials said that electricity and gasoline are items leaving impacts on the economy and catching public attention. PM orders checking of power price hike following social outcry Vietnamese media has questioned the Ministry of Industry and Trade (MOIT) about labeling “secret” the plans for raising electricity and gasoline prices. Government April meeting with the chairmanship of Chairman Mai Tien Dung. Photo: VGP VnExpress asked the MOIT at the government’s regular meeting last weekend why it tagged the adjustment of power and gasoline prices as “state secret” and basing on what ground. In response, Deputy Minister of MOIT Do Thang Hai said that the ministry keeps the plans unrevealed before the official announcement with an aim to avoid any unexpected impacts on the society due to the crucial role of electricity and petroleum in the economy. Hai attributed the Law on Protecting State … [Read more...] about Why does Vietnam label plans on energy price hike “secret”?
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Hung Vuong Corporation (HVG on HSX) may fall on hard times after the US Department of Commerce (DOC) announced anti-dumping duties on Vietnamese tra and basa fish under its preliminary conclusion of the 14th period of review (POR14) for the period from August 1, 2016 to July 31, 2017. POR14 result causes difficult to Hung Vuong Corporation According to the latest news from the Vietnam Association of Seafood Exporters and Producers (Vasep), the US DOC has announced the final anti-dumping duties of POR14 for HVG at $3.87 per kilogramme. Previously, under the DOC’s preliminary results published on September 10, 2018, HVG was to be applied 0 per cent anti-dumping tariff. The bad news pushed HVG’s stock down to only VND5,570 ($0.24), and liquidity on the stock market was about 830,000 units. HVG fell for four consecutive sessions, decreasing 31 per cent compared to the peak in the last three months (VND8,150 – $0.35 per share). Beside HVG, Nha Trang Seafood will … [Read more...] about POR14 result causes difficulties to Hung Vuong Corporation
The Hanoitimes - Vietnam cannot meet the target even with costly investment promotion programs to attract FDI capital in case the global investment capital flow is tightened. Global manufacturers speed up FDI diversion and relocation from China to Vietnam Next-generation FDI strategy required for Vietnam's greater global integration Foreign firms in Vietnam face skilled workforce shortage amid FDI wave New FDI strategy must prevent risk of dual economy in Vietnam: Deputy PM As the proportion of foreign direct investment (FDI) inflow to Vietnam’s total development investment capital is proposed to be capped at 20-25 percent next time, experts are concerned the policy can prevent the country from luring the inflow, especially high quality one. Foreign investment capital keeps rising in the southern province of Binh Duong Vietnam is mapping out targets for FDI inflow till 2030 under a project titled ‘Orientation to improve regulations and policies to … [Read more...] about Proposed investment cap policy might cause Vietnam to lose FDI attraction opportunities
On December 11 the State Bank of Viet Nam reduced the value of the dong against the US dollar by VND9 from the previous day to VND22,775 (US$1). The selling price of the greenback at the central bank’s transaction offices was also adjusted to VND23,408 though the buying price was kept unchanged at VND22,700. At commercial banks, the price of the greenback did not see strong fluctuations. Vietcombank still kept its selling and buying prices at VND23,265 and 23,355. Similarly, BIDV kept its rates unchanged at VND23,260 and 23,350. Market observers said the central bank has been adjusting its daily reference rate for the dong against the dollar constantly since early December though the adjustments have been minor. Why does the central bank continue to devalue the Vietnamese currency when globally the dollar is weakening after the US and China agreed to halt their trade war for 90 days? For instance, in the Asian dollar market, the dollar index, which tracks the greenback against … [Read more...] about Why SBV keeps dong weak against US dollar
Viet Nam News Trần Ngọc Hùng, chairman of the Việt Nam Construction Association, speaks to Việt Nam News Agency about key reasons for the delays in the renovation of old living quarters in Hà Nội. How do you evaluate the national programme to renovate old living quarters? The national programme to renovate old living quarters was launched more than 10 years ago, but its implementation has been very slow. As a consequence, its results have been limited. According to the latest report, some 25 percent of the old living quarters have been described as “very dangerous.” They could collapse at any time and the lives of people living in these building are at risk. What are the main factors preventing the programme from following its approved plan? The Government’s policy is totally right, yet specific guidelines and solutions to implement the policy have not been translated into real life. I should say the implementation of the … [Read more...] about Why does renovation of old living quarters proceed so slowly?