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Koreans top foreign travelers list in Vietnam
11/29/2012 6:02:44 PM VOV Online

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(VOV) - The number of the Republic of Korean tourists to Vietnam in November showed the highest year-on-year increase of 31.5 percent, according to the General Statistics Office (GSO).

It was followed by Malaysia (up 25.6 percent), Thailand (up 24.6 percent), Japan (up 20.8 percent) and Taiwan (up 17 percent).

Some markets had low augmentation, including France (up 6.5 percent), the US (up 2.7 percent), China (up 0.8 percent) and Australia (0.2 percent).

In eleven months, Vietnam has received 6.5 million foreign arrivals, rising by 24.4 percent compared to October and 7.2 percent against the same period last year.
 
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Vietnam Airlines receives loan to buy Airbus A321 aircraft

wow, should this be news on a public forum? I mean $60 million is an amount of a small real estate project
 
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wow, should this be news on a public forum? I mean $60 million is an amount of a small real estate project

You are right. My point is how can Vietnam Airline get the money for the fleet expansion from current 75 to 170 aircrafts?
So this one first is from a Taiwan bank, the rest come from China banks?
 
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You are right. My point is how can Vietnam Airline get the money for the fleet expansion from current 75 to 170 aircrafts?
So this one first is from a Taiwan bank, the rest come from China banks?

sell two of your jets bought from Russia.you have money for the best fighters and submarines,but have no money to buy planes for the people.
 
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sell two of your jets bought from Russia.you have money for the best fighters and submarines,but have no money to buy planes for the people.

We can make a deal: after China and Vietnam sign a non-aggression pact, we will decrease defence spending and sell some fighter jets. Okay?

Talking seriously, Vietnam Airline plans to go public (IPO) to get the money for the expansion plan. Its target is to become South East Asia’s Nr #2 carrier by 2020, after Singapore Airlines.
 
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We can make a deal: after China and Vietnam sign a non-aggression pact, we will decrease defence spending and sell some fighter jets. Okay?

Talking seriously, Vietnam Airline plans to go public (IPO) to get the money for the expansion plan. Its target is to become South East Asia’s Nr #2 carrier by 2020, after Singapore Airlines.

so you are agree that vietnam should leave away form Nine-dotted line,great! if vietnam really do it,we can sign a contract that china help vietnam be the richest country in southeast asia in 20 years. then vietnam airline would be the No.1 in this area.
 
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so you are agree that vietnam should leave away form Nine-dotted line,great! if vietnam really do it,we can sign a contract that china help vietnam be the richest country in southeast asia in 20 years. then vietnam airline would be the No.1 in this area.

kido bargain.
 
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so you are agree that vietnam should leave away form Nine-dotted line,great! if vietnam really do it,we can sign a contract that china help vietnam be the richest country in southeast asia in 20 years. then vietnam airline would be the No.1 in this area.

seem like you haven't a brain in your skull :cheesy:
 
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Vietnam's '*****' economy losing its miao:azn:

Growth next year is expected to drop due, as recent corruption scandals and splinters within the communist government weigh on the economy.

By Simon Roughneen, Correspondent / November 15, 2012

VINH-O COMMUNE, VIETNAM

The Ben Hai river running through this small mountain village in central Vietnam marks the 17th parallel, what was the dividing line between North and South Vietnam prior to the exit of US troops and the communist victory in 1975.

It is a historic but neglected part of Vietnam – a world apart from the bustling capital Hanoi, with cell phone coverage disappearing on the snaking road up to the village as the early morning drizzle falls over the steep and green foliage-laden slopes on either side.

Most of the people living along the rural river area are Van Kieu, one of 54 officially-recognized ethnic groups in Vietnam, where rising income levels for urban Vietnamese have not been matched by improved living standards in some isolated rural areas where minorities live.

Despite Vietnam's "tiger" economy years "upland farmers [including and in particular the minority ethnic groups of the Central Highlands] have been left behind," says Roger Montgomery of the London School of Economics.

The Vietnamese government has repeatedly said that it wants to boost living standards in such areas, part of its overall ambition to achieve a modern industrial economy by 2020. But its ability to live up to these pledges are being constrained by bigger challenges facing the country and the ruling Communist Party, raising questions about the direction of Vietnam’s economy.

Several recent corruption scandals and multibillion dollar losses incurred by mismanaged, behemoth state-owned enterprises have belied hidden fault lines in Vietnam's economy which could in turn lead to reduced growth.

"The veneer of short-term high growth rates made it hard for the government to move forward on reforms. Why fix something that doesn't appear to be broken? Unfortunately, when growth in the region and major international markets such as Europe, the US, and China slowed, Vietnam's economic weaknesses were exposed," says Ernest Bower, southeast Asia analyst at the Center for Strategic and International Studies.

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While Vietnam grew by around 7 percent on average during the decade up to 2010 – lifting Vietnam to World Bank “middle-income” status and pulling in big-ticket investors such as Boeing and Intel – growth for next year is expected to dip to around 5.5 percent.

In Vinh-O, needs are basic, but vital support could be hindered by that dip, especially if slower growth means spending cutbacks or a nervous ruling party stalling on economic reforms. “We need better irrigation canals, better water systems. Eighty-three percent of the people in this area are poor,” says Nguyen Thi Hai, deputy chair of the local People's Committee of the ruling Communist Party of Vietnam.

This summer, the country's central bank conceded that bad debts amounted to as much as 10 percent of all bank loans. And analysts speculate that the real number could be at least twice that.

To compare, total nonperforming loans at four of China's biggest banks came to just 1 percent of all loans last year, meaning Vietnam's bad loans are likely closer to figures for Spain, where around 10 percent of bank loans are not being repaid according to the country's Central Bank.

With the country under such an economic pall, Prime Minister Nguyen Tan Dung recently made a rare apology for problems at state-owned enterprises – which make up 35 percent of the Vietnamese economy. The prime minister was on the end of a public rebuke from rival Communist Party bigwigs, leaving the party looking divided over the troubles facing the Vietnamese economy and the effect these travails could have on its legitimacy.

“Capitalizing on public grievances, mainly inflation, unemployment, and corruption, the old guard led by President Truong Tan Sang and Party Secretary General Nguyen Phu Trong has challenged Prime Minister Nguyen Tan Dung over the failure of his economic policies,” reported political risk consultancy Maplecroft, recently.

Despite the humble-sounding apology and internal Communist Party jostling, slowing growth and increasing public resentment at perceived government mismanagement and corruption has prompted the one-party Vietnamese government to intensify an ongoing clampdown on criticism.

Party control

"While Prime Minister Nguyen Tan Dung and President Truon Tan Sang represent competing political positions within the Communist Party of Vietnam, both prioritize party control above all else," says Christian Lewis of political risk consultancy EurasiaGroup.

On Oct. 30, the government jailed two songwriters in Ho Chi Minh City for alleged antigovernment propaganda, a vague catch-all accusation in a country where advocating for democracy can be deemed a crime. The sentencing comes soon after a Sept. 24 jailing of three well-known writers and journalists on similar charges.

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Some dissident criticisms have focused on graft, a factor that is spooking investors and hitting growth, with Vietnam slipping in global league tables such as the World Economic Forum's Global Competitiveness Report, dropping 16 places from 2010 to 75th for 2012. Foreign investment into Vietnam peaked at just over $70 billion in 2008, but figures for 2012 to date show it at only $10.5 billion, a drop of 28 percent on 2011, according to the government.

Officials are worried that Vietnam will have trouble continuing to attract investors, and, perhaps in an effort to demonstrate a type of transparency they think the West wants to see, some are speaking more candidly than in the past about the challenges facing Vietnam's economy.

Vietnam's skills-base needs improving if the country is to continue to attract investors, with neighbors and challengers such as Myanmar and Indonesia offering lower-wages and bigger markets respectively, says Mai Thi Thu, director of the National Centre for Socio-Economic Information and Forecast, a think-tank at the country's Ministry of Planning and Investment.

“I know many investors come to Vietnam and face many difficulties to recruit appropriate labor,” she says.

For Vietnam, a failure to attract higher-tech investment and create better-paid, better-skilled jobs could mean becoming snared in the much-touted “middle income trap,” in which countries can no longer offer cheap labor because of rising costs but cannot compete with advanced economies in terms of skills or infrastructure.

“I don't think it can be easy for Vietnam to overcome this trap,” says Mai Thi Thu.

Nonetheless, she’s quick to point out that Vietnam's economy has come a long way since doi moi or “renovation” reforms introduced after 1986, when the country was one of the world's poorest, and officials in Vinh O are optimistic about the future.

“Five years ago we did not have the good road to here,” Nguyen Thi Hai points out, adding “and I think if you come back in five years time, you will see a very different place here again.”

Vietnam's 'tiger' economy losing its roar - CSMonitor.com
 
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Japan pledges US$2.6 bil in ODA to Vietnam
VietNamNet Bridge – The Japanese Government has committed to grant US$2.6 billion in official development assistance (ODA) to Vietnam in 2013, nearly doubling last year’s figure (US$1.4 billion).

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The announcement was made by Japanese Ambassador to Vietnam, Tanizaki Yasuaki, at the three-day CG meeting which opened in Hanoi on December 10.

He highly valued Vietnam’s macroeconomic policies to ensure sustainable growth through its 10-year socio-economic development strategy and five-year socio-economic development plan.

He suggested Vietnam implement specific measures on economic restructuring, with a focus on building a healthy financial system, settling bad debts and rearranging State-owned enterprises (SOEs).

He stressed that Vietnam’s sustainable growth is the key to regional stability and development. Japan will continue supporting Vietnam’s efforts in developing infrastructure and human resources, he added.

Earlier on December 7, Prime Minister Yoshihiko Noda stated that Japan will maintain ODA funding for Vietnam’s socio-economic development projects while receiving Vietnamese National Assembly Chairman Nguyen Sinh Hung.

He confirmed his government’s resolve to strengthen cooperation in various areas with Vietnam, considering this one of Japan’s priorities in its development cooperation policy.

Denmark commits US$57 million in ODA

Denmark will provide Vietnam with US$57 million in official development assistance (ODA) in 2013. Danish Ambassador John Nielsen announced the allocation on December 7.

Nielsen said the aid aims to help Vietnam build a sustainable green economy. The potential for technical cooperation between the two countries is great, especially in the energy field, he added.

Under bilateral agreements on green growth, energy saving, and climate change adaptation, Denmark will offer an additional US$14 million to assist Vietnamese small and medium-sized enterprises (SMEs) to improve energy efficiency.

A tripartite green growth agreement signed by Vietnam, Denmark, and the Republic of Korea also focuses on helping the Southeast Asian country devise a green growth strategy.

The Danish Ambassador pledged to prioritise assisting Vietnam’s efforts with legal reform, administrative reform, and capacity building for the National Assembly’s agencies.

Vietnam-Denmark relations have steadily advanced over recent years. In November 2012, Danish Prime Minister Helle Thorning Schmidt visited Vietnam, aiming to boost bilateral cooperation in various fields, especially politics, trade, and culture.

Denmark is one of Vietnam’s leading EU partners in terms of ODA provision. Since the 1972 establishment of the two countries’ diplomatic ties, Denmark has granted more than US$1 billion in ODA to Vietnam. Most of it has been allocated to infrastructure development, poverty reduction, administrative reform, environmental protection, SME assistance, and climate change adaptation.

Source: VOV
 
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Vietnam’s overseas investments reach nearly $1.3b in Jan-Nov
30-Nov-2012 Intellasia | MoPI | 1:44 PM


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memorandum of understanding regarding trilateral cooperation on green growth was signed last week by Vietnam’s Ministry of Planning and Investment (MPI), Denmark’s Ministry of Foreign Affairs and South Korea’s Ministry of Foreign Affairs and Trade (Nov 12, 2012)


The statistics from Overseas Investment Department under the Ministry of Planning and Investment (MoPI) show that in the first 11 months of 2012, MoPI granted overseas investment license for 73 projects of Vietnamese enterprises with a total registered capital of $1.275 billion.

In addition, the ministry also approved to adjust the investment capital for 11 ongoing projects with an additional capital amount of $160.6 million.

Investment projects mainly focused in fields such as agricultural and forestry sector (15 projects), wholesale and retail and repairing (13 projects), processing and manufacturing industry (nine projects), mining (nine projects), and the remaining investment projects were in the fields of accommodation and catering services, education and training.

In comparison with the same period last year, the total number of newly licensed projects increased six but the registered capital was lower than $717 million.

Accumulatively, till November 2012, Vietnamese enterprises have had 738 investment projects abroad valued at about $15.142 billion.

Amongst nearly 70 territories and countries receiving investments from Vietnam, Laos top the list with 222 projects worth nearly $3.8 billion and followed by Cambodia with 124 proejcts valued at nearly $2.6 billion.
 
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Ministry revises auto industry master plan
05 2012 11:36 | Vietnam News


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Assembling auto parts at Vietnamese automaker Thaco Kia. The Ministry of Industry and Trade will finalise its master plan for developing the efficiency of the domestic automobile industry. — VNA/VNS Photo Tran Tinh


HA NOI (VNS)— The Ministry of Industry and Trade has revised the auto industry development master plan in light of actual experiences in the past few years in a bid to cope with new trends on the market.

The country has 18 automobile manufacturers belonging to the Viet Nam Automobile Manufacturers Association (VAMA) and some 10 other smaller private manufacturers.

About 8,000 vehicles were sold in Viet Nam in October, down 21 per cent from the same month last year, according to VAMA. The industry group forecast that domestic manufacturers would sell a combined 95,000 vehicles in 2012. — VNS
 
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About 8,000 vehicles were sold in Viet Nam in October, down 21 per cent from the same month last year, according to VAMA. The industry group forecast that domestic manufacturers would sell a combined 95,000 vehicles in 2012. — VNS

8000 vehicles in a month !wow ....good job! it is about 1/20 of that sold in my province last year.big market.
 
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8000 vehicles in a month !wow ....good job! it is about 1/20 of that sold in my province last year.big market.

You are ironic, I know. Vietnam economy is 10 years behind China. The number of sold cars does not include imported ones. However, if anyone can afford and use car, than there isn´t enough places in the city right now. The people rather use motocycles.

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Donors pledge US$6.5 billion to Vietnam
12/11/2012 9:43:52 AM | The Voice of Vietnam

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International donors have pledged to provide nearly US$6.5 billion in official development assistance (ODA) to Vietnam in 2013, a decline of US$1 billion from last year.

The 2012 CG Meeting examined Vietnam’s economic situation and its 2013 priorities, creating foundations for successfully performing as a middle-income country, and amendments to the Land Law for comprehensive and sustainable development.

At the meeting, donors including the WB, the UN Development Programme (UNDP), the European Union (EU), the Asian Development Bank (ADB), the International Monetary Fund (IMF), the US, Japan, the Republic of Korea and representatives from Group 4 (G4) applauded the Vietnamese Government’s efforts.
 
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