Vietnam Economy RSS News Feed by Intellasia.net

Institute forecasts 2008 inflation at over 22%

Sat, 10 May 2008 07:10:00 PST

"Vietnam Economic Report 2007 and Prospect 2008" announced yesterday by The Central Institute for Economic Management (CIEM) showed that the targets of economic growth at 8.5-9% and inflation control at 11-12% in 2008 cannot be reached and it is forecasted that CPI this year could jump to 22.3% if the economy continues facing disadvantages.

Budget deficit discrepancies

Sat, 10 May 2008 07:00:00 PST

In line with the calculation method of International Monetary Fund (IMF), Vietnamese government's budget overspending was 6.6% of the country's output (GDP) against the previously announced 5%. At the conference on the budget deficit held on May 5 by National Assembly's Finance Committee, economists said that the budget overspending is a main factor pushing inflation at new highs.

Italia supports 3m euro to develop SMEs

Fri, 09 May 2008 07:00:00 PST

Representative from Italian Embassy to Vietnam yesterday May 7 announced that Italian Ministry of Foreign Affairs approved the second phase of the project to support three million euro to develop Vietnam's small and medium sized enterprises (SMEs).

Trade deficit balloons 60% to US$11b of exports

Thu, 08 May 2008 07:10:00 PST

The total import spending in the first four months of 2008 is estimated at US$29.36 billion, rising by over 70% year-on-year, reported yesterday the Ministry of Industry and Trade. Therefore, with the export turnover of US$18.28 billion in the period, Vietnam's trade deficit was about US$11.07 billion due to increasing purchase power and sudden rises in prices of petroleum, steel, chemical, and equipments machines.

World growth still strong but inflationary risks significant: Trichet

Wed, 07 May 2008 07:00:00 PST

Global growth is still strong owing to the resilience of emerging markets but inflation risks are significant, European Central Bank chief and G10 spokesman Jean-Claude Trichet said on Monday.

Deepening economic woe

Mon, 05 May 2008 07:06:03 PST

Economic data in April confirmed our fears that the inflation and trade deficit in Vietnam continued to worsen. Policy efforts have so far failed to reign in prices and the investment-driven surge in imports. The market shows little faith in how the economy is being managed and has priced in about 5% depreciation in the Vietnam dong by yearend.

HCM City's export value surges 34.6%

Mon, 05 May 2008 07:00:00 PST

Ho Chi Minh City 's export value soared 34.6% to US$7.48 billion in the first four months of the year.

International visitors to Saigon reach 1m

Mon, 05 May 2008 07:00:00 PST

HCM City welcomed over 1 million foreign tourists in the first four months of this year, a rise of 18% over the same period last year.

Retail sales and services reach 295tr dong in Jan-April

Sat, 03 May 2008 07:00:00 PST

Total goods retail and service turnover in the first four months of this year is estimated at 295.112 trillion dong, jumping 29.5% year-on-year.

FDI reaches US$7.6b

Sat, 03 May 2008 07:00:00 PST

Up to the end of April, Vietnam attracted nearly US$7.6 billion in FDI capital including 210 newly projects worth US$7.22 billion and 64 projects with the increased capital size of US$371.4 million, reported Phan Huu Thang, head of Ministry of Planning and Investment's Foreign Investment Department.

Industrial output rises 16.4% Jan-Apr

Wed, 30 Apr 2008 07:00:00 PST

Industrial production for April was valued at 54.988 trillion dong (US$3.43 billion), reports the general Statistical Office taking the total value for the first four months to 215.5 trillion dong (US$13.5 billion), a year-on-year increase of 16.4%.

1.7m international tourists arrive in Vietnam in Jan-Apr

Wed, 30 Apr 2008 07:00:00 PST

There were some 1.7 million international tourists arriving in Vietnam during the first four months of the year, a year-on-year increase of 16.1%, reported General Department of Tourism.

Inflation hits 21.4% in April

Tue, 29 Apr 2008 07:10:00 PST

The government estimated Friday that annual inflation in April jumped to 21.42%, the sixth consecutive month of double-digit inflation and among the highest rates in Asia.

Vietnam posts record trade deficit of US$11b Jan-Apr

Mon, 28 Apr 2008 07:07:00 PST

Vietnam posted a record trade deficit of US$11.1 billion in the first four months of 2008, driven by a sharp hike in oil and gas, construction materials and fertiliser imports, officials said Friday.

Vietnam Jan-April industrial output slow at 16.4%

Mon, 28 Apr 2008 07:00:00 PST

Vietnam said on Friday its industrial output in the first four months of this year would slow to 16.4%, to 215.54 trillion dong, from the same period of 2007.

Apparel and footwear export estimated at nearly US$4b in April

Sat, 26 Apr 2008 07:00:00 PST

The country's apparel and footwear export in April is estimated at US$1.03 billion in this month, bringing the total figure during the first four months of 2008 up to US$3.961 billion, a year-on-year increase of over 21.3%.

HCM City industrial production grows by 3.4%

Sat, 26 Apr 2008 07:00:00 PST

HCM city's industrial production surged 3.4% over March, exceeding 32.8 trillion dong (US$2 billion), according to the municipal Department of Industry.

Hanoi's CPI continues increasing in April

Sat, 26 Apr 2008 07:00:00 PST

Hanoi Statistic Department reported that the city's CPI in April rose by 1.49% against the previous month despite of measures to curb inflation.

ODA attraction recorded at US$1.26b in Jan-April

Sat, 26 Apr 2008 07:00:00 PST

Ministry of Planning and Investment reported that since the beginning of this year, the signed ODA supply via agreements with donors has totalled at over US$1.266 billion, in which the loans are US$1.216 billion and the non-refundable capital is US$49 million.

Exports continue rising, imports down

Sat, 26 Apr 2008 07:00:00 PST

In April, the country's export turnover has reached US$5.1 billion, bringing the total figure in Jan-April to US$18.26 billion, a year-on-year growth of 27.6%.