Articles worth reading
Image : Asian shares mostly lower amid Brexit worries, Takata falls

Asian shares mostly lower amid Brexit worries, Takata falls

person Orange Themes access_time Jan 16,2017

Yahoo News TOKYO (AP) — Asian shares were mostly lower Monday morning amid worries about Britain's exit from the European Union, and Takata stock dropped in Tokyo after the air bag maker agreed to a guilty plea in the U.S. over massive recalls.

Image : China's Sinochem boss dismisses 'crazy' Trump polices

China's Sinochem boss dismisses 'crazy' Trump polices

person Orange Themes access_time Nov 19,2016

Global business leaders meeting in Lima think proposals by U.S. President-elect Donald Trump to build a wall along the Mexican border and hike tariffs on Chinese imports are unlikely to happen, said the head of China's state-run Sinochem on Friday.

Image : Fake US election news outshone real on Facebook: report

Fake US election news outshone real on Facebook: report

person Orange Themes access_time Nov 17,2016

Fake election news got more attention than did real stories on Facebook during the final months of the US presidential campaign, according to an analysis by BuzzFeed News. The tech news outlet found that the 20 top-performing bogus stories from hoax

Latest blog articles

Rosy 2017 VN economic outlook: experts

access_time Jan 05,2017 chat_bubble_outline 80 views

Viet Nam will achieve its 2017 goal of 6.7 per cent growth in gross domestic product (GDP), higher than 6.21 per cent in 2016, due to the efficiency of its reforms, say experts.


Rosy 2017 VN economic outlook: experts


The National Financial Supervisory Commission of Viet Nam (NFSC) says this year, Viet Nam’s economy will improve due to the reform of institutions and of the investment environment, as well as the price recovery of energy and farming products on the world market, creating new impetus for the private sector.

Meanwhile, the World Bank (WB) and Asia Development Bank (ADB) have forecast that Viet Nam’s GDP growth will reach 6.3 per cent for this year, and the International Monetary Fund (IMF) set that figure at 

6.2 per cent, reports vietnamplus.vn.

The National Centre for Socio-economic Information and Forecast (NCIF) under the Ministry of Planning and Investment has two scenarios for domestic economic development this year based on the impact of the Government’s directions and an IMF forecast of global GDP growth of 3.4 per cent.

According to the more likely first scenario, the domestic economy will remain stable and development and local investment will keep improving. Viet Nam will benefit from its global integration to improve exports 

and investment. That would translate into 6.44 per cent GDP growth and inflation of 5 per cent in 2017.

The second scenario foresees 6.72 per cent GDP growth and inflation of 6 per cent if it further impproves the structure and efficiency of the economy.

Policy management as well as legal and investment environment reforms in 2016 have begun to have an effect, the NCIF says. The consumption index increased slowly and steadily. The State implemented flexible management of monetary and exchange rate policies, presaging an average basic interest rate of 6 per cent in 2017. The nation is forecast to achieve its money supply and credit growth goals.

Economic expert Vu Dinh Anh says the exchange rate between the Vietnamese dong and US dollar will flutuate in 2017, in accordance with economic and financial changes in the world, reports the Tien Phong newspaper.

This year, Viet Nam needs more active and flexible exchange rates, Anh says. The value of the Vietnamese dong can suffer from growth of inflation, while import volume and the price of petrol and other goods will increase. Le Xuan Nghia, a member of the National Financial and Monetary Policy Advisory Council, says the council predicts interest rates hikes of 1-2 per cent, depending on directions from the State Bank of Viet Nam, reports the Giao thong newspaper.

Rate hike pressure will come from inflation and an increase of basic salaries, from three expected interest rate hikes by the Fed, from interbank interest rates moving up and from an upward trend of Government bond interest rates, Nghia says.

In addition, the increase in interest rates could be due to the trade deficit reaching $4-5 billion this year, increases in the price of the US dollar, and China’s adjustment of exchange rates, he says.

Economic expert Vo Tri Thanh says Viet Nam’s economic growth next year will be boosted by the processing industry, foreign direct investments, and the construction and services sectors.

In 2017, the agriculture sector will improve, while the construction sector will still face many difficulties. The property market will not experience a bubble but Viet Nam will not be able to attract as much foreign investment as in 2016, he says.

The Government has set economic development targets of 6.7 per cent GDP growth, 4 per cent inflation and export value growth of 6-7 per cent for 2017.

To reach the goals, experts say, the Government will have to stabilise the macro economy, improve investment and business environments, and implement efficient economic restructuring to achieve greater productivity, higher quality and competitive ability.

The Central Institute of Economic Management (CIEM) says the Government should continue renovation of the micro economy. It should complete regulations guiding implementation of the amended Law on Investment and the Law on Enterprise, abolish unsuitable business conditions and simplify remaining business conditions.

The Government should encourage the private sector to join in formulating investment and business policies, complete tariff calculations appropriate for international standards of transparency, according to the CIEM. Viet Nam needs to take advantage of free trade agreements to promote exports and deal with the challenges of climate changes and environmental pollution which will impact mid- and long-term economic growth.

The nation will also face many challenges in reaching economic development this year and beyond. These include slow growth in the agriculture sector, economic growth dependent on the FDI sector, slow restructuring in some sectors, financial system dependent on the banking sector and difficulties in reducing lending interest rates. 

VNS

Vietnam Airlines announces sale-leaseback plan for three A350s

Vietnam Airlines is poised to find buyers for three new-generation A350s it will receive in 2016-17 and lease them back for use, in a move to cut debts, the Vietnamese national flag carrier said on Friday. Such a sale-leaseback plan has been submitted to the carrier’s shareholders for approval, a Vietnam Airlines representative confirmed to Tuoi Tre (Youth) newspaper. Sale-and-leaseback is a financial transaction, where one sells an asset and leases it back for the long-term. The plan will… chat_bubble_outline Read More...

Scandal-hit Jeonbuk looking for redemption in Asian final

SEOUL, South Korea (AP) — Scandal-hit Jeonbuk Motors of South Korea is looking to end a troubled year on a high by defeating Al Ain of the United Arab Emirates in the Asian Champions League final, the first leg of which takes place on Saturday at Jeonju World Cup Stadium.Jeonbuk, winner of the tournament in 2006, missed out on a third successive K-League title earlier in November, by losing the final game of the season to closest challenger FC Seoul.Jeonbuk had been 14 points clear with six… chat_bubble_outline Read More...

Medical products on display in HCM City

Read on the original site chat_bubble_outline Read More...

Work at a Desk Job? This Trick Could Boost Your Energy

Here's another reason not to sit all day: Getting up from your desk for a few minutes at a time throughout the day may boost your mood and energy levels, a small new study suggests.The study involved 30 healthy adults who were typically not very active during the day. For the study, they visited a health center three times, with each visit one week apart. At one visit, the participants sat for a full 6 hours, and were only allowed to get up for bathroom breaks. At another visit, the… chat_bubble_outline Read More...

10 most outstanding M&A deals in 2016

The biggest M&A deals in 2016 were the following: 1. SCIC sold 78.4 million Vinamilk shares, or 5.4 percent of Vinamilk’s charter capital, to F&N Bev Manufacturing in a deal worth VND11.3 trillion ($500 million). SCIC offered to sell 130.6 million Vinamilk shares, or 9 percent of stakes of the nation’s largest dairy producer. Only two foreign institutions, F&N Dairy Investment and F&N Bev Manufacturing, registered to buy the shares and only 5.4 percent of stakes were sold.  After the… chat_bubble_outline Read More...

folder_open Assigned tags

Comments

Loading...

Trends in Singapore

Trends in Indonesia

Trends in Philippin