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Vietnam’s Economy Grows by 5.32 Percent in 2009
Jan. 6 – Vietnam’s economy grew by 5.32 percent in 2009, making it one of the top expanding economies in the region despite the global financial crisis. General Statistics Office said the economy recorded a double achievement of gaining economic growth and reining in inflation. While growth in 2009 was lower compared to the previous […]
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Vietnam Assumes ASEAN Chair for 2010
Jan. 4 – Vietnam will take the reigns as this year’s chair for the Association of Southeast Asian Nations (ASEAN). The position is a revolving one and Vietnam will take over from Thailand until the end of this year. Vietnam will cooperate with nine other member-states to manage regional agreements, plans, and programs.
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Top 10 Foreign-Invested Projects for 2009
Dec. 31 – While foreign direct investment in Vietnam fell in 2009 for the first time in five years, the global financial crisis did not completely drive away investors. As Asia begins to emerge from the crisis, Vietnam’s economy is responding, expanding at the fastest pace in more than a year in the fourth quarter […]
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Central Bank to Keep Benchmark Interest Rate at 8 Percent in January
HANOI, Dec. 29 – Vietnam’s central bank will keep the benchmark interest rate at a one-year high of 8 percent in January to help strengthen the economy. The central bank increased the base rate to 8 percent last month amid signs of increasing inflation, after holding it at 7 percent for 10 months to revive […]
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Vietnam Attracts US$20 Billion in FDI for 2009
Dec. 28 – Vietnam attracted US$21.48 billion in foreign direct investment in 2009, the Foreign Investment Department for Vietnam’s Ministry of Planning and Investment said on Sunday. Although it was just 30 percent of last year’s total foreign investment, the amount wasn’t bad given the economic crisis, the department stated on local newswire Vietnamnet, noting […]
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HCMC Targets 2.8 Million Foreign Visitors for 2010, Sees 7% Drop in 2009 Arrivals
Dec. 22 – Ho Chi Minh City hopes to welcome 2.8 million foreign visitors in 2010 after posting the first decline in arrivals since 2003 this year. La Quoc Khanh, deputy head of the Department of Culture, Sports and Tourism, said the drop of 7 percent in foreign arrivals had been expected since the middle […]
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Vietnam Opens Cross-Border River Trade with Cambodia
Dec. 18 – Cambodia and Vietnam have agreed to a treaty that will open Mekong waterways to increases trade and tourism. The Treaty on Waterway Transportation legally binds Cambodia and Vietnam to reducing the official restrictions that have existed for cross-border navigation, according to the the Mekong River Commission.
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Tax on Securities Investments to be Implemented Next Year
Dec. 17- Vietnam will implement a tax on gains in securities investments beginning January 1, 2010. Stock investors can choose to either pay the flat 0.1 percent duty fee on the value of each transaction, or a 20 percent levy on trading profits reports Thanh Nien News. Implementation of the tax was temporarily suspended because […]
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Foreign ROs Dwindle with Declining Tourist Arrivals
Dec. 16 – Foreign tourism companies with representative offices in Ho Chi Minh City have closed down in the past year due to declining tourist arrivals. The number of representative offices were estimated at 16 last month from 24 in September last year reports Thanh Nien News with most of the foreign tourist companies coming […]
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ADB Approves US$630 Million Loan to Reform SOEs
Dec. 15 – The Asian Development Bank (ADB) has approved US$630 million in financial support for Vietnam to reform its state-owned enterprises to make them more efficient and profitable as well offer opportunities for the private sector. The multitranche financing facility for the SOE Reform and Corporate Governance Facilitation Program will help government efforts to […]