Vietnam - International Political Economy

Vietnam Economy Sees Gasoline Prices Cut 7.1 Percent

vbs — Fri, 14 Nov 2008 23:49:45 +0000

The Vietnamese government has announced that it will cut gasoline prices by 7.1 percent in order to align with the world price of oil and to help the Vietnamese economy according to Reuters.

The Vietnamese economic news is welcome considering that the Vietnam economy has witnessed double digit inflation for almost over a year.

Unlike free markets of the West, in which fuel prices are reflected within week of any change in the price of oil, the Vietnam government ultimately controls the price of gasoline in Vietnam via the Ministry of Finance and the Industry and Trade Ministry.

Vietnam Economy Sees Inflation Slow

vbs — Tue, 28 Oct 2008 23:09:16 +0000

The inflation rate for the Vietnam economy slowed to 26.7 percent in October according to AP.

Despite extremely high inflation rate, the Vietnamese economy has seen its consumer price index (CPI) fall two consecutive months in a row.

The news continues to point towards global deflation rather than inflation as many are concerned about the massive inflows of money supply in the wake of the current global economic crisis.

Russia Signs Vietnam Trade and Development Deal for Oil

vbs — Sun, 26 Oct 2008 22:18:10 +0000

The Russian and Vietnamese government signed a Vietnam trade deal for oil and gas at a recent accord in Moscow according to ABC.

The Vietnamese trade agreement is expected to boost trade between the two nations by $10 billion.

In addition, the two nations singed an agreement to develop energy fields off the coast of Vietnam. (more…)

Interest Rate Cut to Spur Vietnam Economy

vbs — Tue, 21 Oct 2008 23:47:32 +0000

The State Bank of Vietnam (SBV) cut interest rates to 13 percent in order to help the Vietnam economy get through the possible global downturn according to Xinhua News.

Although the interest rate cut move is inline with other emerging markets it also poses a risky proposition for the Vietnamese government as double digit inflation continues put additional pressure on the Vietnam economy.

Currently, Vietnam trade is witnessing downward trends in exports such as rice, seafood, rubber, pepper and coffee. (more…)

Vietnam Government Aims for 7 Percent Growth

vbs — Thu, 16 Oct 2008 23:28:08 +0000

The Vietnamese government revised growth expectations to 7 percent down from 8.5 percent according to AP.

The revision by the Vietnam government comes as the global financial crisis continues to manifest in emerging markets.

The Vietnamese government is still fighting double digit inflation so a slower Vietnam economy should help quell further inflationary pressure. (more…)

ANZ Bank to Invest in Vietnam

vbs — Mon, 13 Oct 2008 13:14:20 +0000

Australia’s ANZ bank plans to invest in Vietnam by opening a local branch n Hanoi according to AFP.

The Vietnam investment news comes as the Vietnam government and State Bank of Vietnam (SBV) have granted permission to the Australian bank to set up a wholly owned subsidiary after 99 years of communist rule.

A key driver of the announcement is foreign bank criticism of the Vietnamese government that Vietnam’s World Trade Organization (WTO) pledged open its banking sector has moved too slowly. (more…)

Vietnam Economy Grows 6.5 Percent

vbs — Mon, 29 Sep 2008 18:11:44 +0000

The Vietnam economy grew 6.5 percent in the first nine months of this year according to AFP.

While Vietnam econimoc growth is less than the Vietnemese government’s original target of 8.5 percent, it is in line with revised expectations considering Vietnam inflation as high as 27.9 percent.

Additonal Vietnam econimic news includes Vietnam foreign direct investment (FDI) of $57.1 billion dollars for the year thus far. (more…)

Vietnam Economy Sees 28.32 Percent Rise in Consumer Prices

vbs — Tue, 26 Aug 2008 14:18:09 +0000

Vietnam inflation for the month of August rose 28.32 percent year over year and continues to strain the Vietnamese economy according to Daily Times.

The Vietnam inflation increase is the 10th consecutive monthly period of double digit inflation and will likely spur unrest unless the Vietnam government acts fast to quell its impact on the Vietnamese economy.

The challenge is for the Vietnamese government to balance annual growth target that competes with that of China yet maintains reasonable consumer price levels. (more…)

Tata Steel to Invest in Vietnam

vbs — Thu, 14 Aug 2008 13:59:45 +0000

Tata Steel, India’s biggest steel maker, has announce a deal to invest in Vietnam $5 billion according to Hindustan Times.

The Vietnam investment is signed as a joint venture with Vietnam Steel Corporation and is expected to produce 4.5 million tons of steel and will be located in the Vung Ang Economic Zone in Ha Tinh province.

The Tate Steel joint venture investment in Vietnam is made up of a 65/30/5 percent split between Tata, Vietnam Steel and Vietnam Cement respectively. (more…)

Vietnam Government to Rise Vietnam Steel Export Duties

vbs — Wed, 06 Aug 2008 13:21:19 +0000

The Vietnam government has announced it will double the Vietnam trade duty on steel exports to 20 percent according to The Economic Times.

The Vietnam trade increase by the Vietnamese government is design to limit steel exports as Vietnam relies heavily on steel imports from China. (more…)