Has VN entered the middle-income trap?
Becoming a middle-income country has brought enormous challenges for Viet Nam, including the danger of getting caught in the so-called middle-income trap.
In the first quarter HCM City signed off on co-operation deals with southern and Mekong provinces to enable its businesses to invest in projects and create supply chains in those places.
Analysts split on interest rate cap
Many HCM City banks want the central bank to abolish the interest cap for deposits of up to six months, considering it a "hurdle" to their deposit mobilisation efforts.
The State Bank of Viet Nam has lowered the interest rate on short-term deposits (one to six months) from 7 per cent to 6 per cent annually, a move that would normally result in lower rates for loans from commercial banks. But banks are still concerned about customers' deposit needs and question whether they will apply for business loans.
When cash climbs aboard a merry-go-round
Last week the State Bank of Viet Nam decided to lower the the interest rate cap on bank deposits of up to six months by 1 percentage point to 6 per cent in an effort to boost credit growth and pump prime the economy.
Dong Nai to resettle airport-displaced families
The provincial authorities of Dong Nai have begun resettlement plans for residents affected by the project to built an international airport in the province's Long Thanh District, which is scheduled for completion in 2020.
Farmers in the Mekong Delta are unhappy to see vast ar-eas of land left uncultivated after they were zoned for industrial parks.
Eximbank has decided to lower its one-month deposit interest rate to 6.5 per cent, and on two and three months to 6.6 and 6.8 per cent respectively.
Soon after the Lunar New Year the governor of the State Bank of Viet Nam said the central bank would continue to tell banks to further cut interest rates on loans to businesses by 1-2 per cent.
Remittances pour in from overseas
Remittances from overseas Vietnamese channeled through HCM City banks rose to a four-year high of US$4.85 billion last year, far more than the target set last year by the Central Bank's HCM City branch.
Despite the slight volatility in the foreign exchange market in recent days, analysts believe that exchange rates will remain stable in the new year.

Highlight

Light it up with fire on Hue's Truong Tien Bridge Light it up with fire on Hue's Truong Tien Bridge

The 150-year-old Truong Tien Bridge, which spans over the renowned Huong (Perfume) River in Hue City, was lit up by fire in an installation by French artist Carabosse on Friday evening.

Hospital provides free asthma treatment Hospital provides free asthma treatment

The Bach Mai General Hospital will provide free check-up consultations and treatment to newly asthmatic patients on April 26, to mark Global Asthma Day (May 1).

Failure to address water pollution has consequences 1    Failure to address water pollution has consequences

Viet Nam needs to have a comprehensive, unified set of rules to control water pollution in the country, because the problem has assumed very serious proportions, experts and officials said at workshop yesterday.

Tokyo police release VNA flight attendant Tokyo police release VNA flight attendant

Vietnam Airlines announced on Wednesday that the Japanese authorities had released its 25-year-old flight attendant who had been arrested on suspicion of smuggling stolen goods.

Paean to people with disabilities Paean to people with disabilities

A photo exhibition in Dong Nai Province underscores the will and perseverance of 25 disabled people who overcame their situation to lead normal lives.