Vietnamese economic reform faces crisis

[kawaraj]

although we have countries using Chinese style names or written language like Korean and Japan.we ourselve also dont want any connection with Vietnam.Chinese cultural influence sphere,Korea,Japan,Hongkong,Singapore,Taiwan...are all wealth and well educated countries or areas,how come only Vietnam is this dirt poor?and beside,they look so different from us.we've got to have nothing to do with each other,they need to create their own culture.

---------- Post added at 10:07 PM ---------- Previous post waPM ----------

No, Koreans are not on the list, they don't use Chenese Kanji anymore.

Kanji is the Chinese words.

 

[beijingwalker]

although we have countries using Chinese style names or written language like Korean and Japan.we ourselve also dont want any connection with Vietnam.Chinese cultural influence sphere,Korea,Japan,Hongkong,Singapore,Taiwan...are all wealth and well educated countries or areas,how come only Vietnam is this dirt poor?and beside,they look so different from us.we've got to have nothing to do with each other,they need to create their own culture.

---------- Post added at 10:07 PM ---------- Previous post waPM ----------

No, Koreans are not on the list, they don't use Chenese Kanji anymore.

Kanji is the Chinese words.

They still use them in their names,they have Chinese names,and they also celebrate Chinese traditional holidays.

 

[ChinaToday]

Alright kids, there's too much heat in this thread. Can't we all get a long. Vietnam is still behind a lot of countries that's a fact. Vietnam do need help from a rich dad. Hope one day that would change.

I love pho LOL

 

[NiceGuy]

a

go to wikipedia and study some basic history knowledge.

You know, I'm so tired to post again and again how CHina assimilated Bai Yue people and our culture , let read CHina link here for the Truth.

The Li nationality is the earliest of inhabitants on Hainan Island. Their ancestors were from Luo Yue, a branch of the Bai Yue nationality, migrating to Hainan Island 3000 years ago successively. The Miao nationality probably moved in from Guangxi and other places as the ordinary soldiers of the Ming Dynasty, and settled down in Hainan ever since. The Hui people mainly live in Sanya Phoenix Town, and many of their ancestors were from Zhancheng (Central and Southern areas of today's Vietnam) during the Song and Yuan Dynasties.

Chinese History | Hainan Ethnic Minorities

Alright kids, there's too much heat in this thread. Can't we all get a long. Vietnam is still behind a lot of countries that's a fact. Vietnam do need help from a rich dad. Hope one day that would change.

But if they violate our rule, we will fine the investor even they're Toyota.

Vietnam must inspect Toyota over technical faults
| Tuoi Tre | April 06, 2011 17:09 pm

Vietnam must inspect Toyota over technical faults, said Nguyen Manh Hung, chairman of the Vietnam Automobile Transportation Association.

.

http://www2.dtinews.vn/news/business/vietnam-must-inspect-toyota-over-technical-faults_9809.html

 

[ChinaToday]

i m planning to go see my friend in hochiminh city next year in june you guys know any nice beach near saigonn?

 

[NiceGuy]

i m planning to go see my friend in hochiminh city next year in june you guys know any nice beach near saigonn?

Vung Tàu province, about 85-90 km from SG , but when you go to restaurant, you must check the price first ,we have some 'bad cheater' restaurants there

Being a seaside town, Vung Tau revolves around seafood. Don't assume, however, that the flipping fish in front of you is from the sea -- Vung Tau hosts a couple of rather large fish farms. On Thuy Van St (Back Beach), large seafood restaurants sporadically stand on the seafront. Portions are generous and standards hardly differ, it's best just to take a lucky dip. On the other side of town, Cat Bien is a restaurant of similar ilk. The vast menu contains any kind of mollusc, fish and crustacean you could wish for -- and maybe some you wouldn't. A specialty is BBQ fish wrapped in foil -- we had the grouper -- and dipped with some muoi tieu chanh (salt, pepper and lemon juice mixed together), it was mighty fine. Just one thing here, prices are high.

Possibly the most popular dining venue in town is Hai San Song. Vietnamese tourists flock here due its reputation, price and location -- weekends are especially heaving, but not in stressful way. This place is a little out of town, follow Quang Trung St out of town to the North for about 1.5km. The restaurant is housed directly on the shoreline, with good views out across the bay where you can see the container ships trafficking in and out of the estuary that leads to Saigon. On the top of the inevitably wide-ranging seafood menu, the prices are exceptionally good value.

Back in town, Le Dung is a kind of seafood 'takeaway', where you can order your preferred dish to be prepared on the spot and then thrown in a box for a beach side picnic.

Places to eat in Vung Tau, Vietnam. A restaurant, entertainment and eating out travel guide.

 

[Sin Pateh]

Hedge Fund Elliott Associates Takes Vietnam to Court

 

[Sin Pateh]

I don't want to waste the forum resources so I find this thread related to my wanna say so I spin it up despite the time!!!

Vietnam’s economy slows down in 2011, inflation soars

Vietnam’s economy grew at a slower pace of 5.9 percent in 2011, compared to 6.78 percent a year ago, during a period when bank lending was tightened to curb soaring inflation, government data showed on Friday.

“The GDP growth in 2011 at around 5.9 percent is relatively high under the circumstance of efforts to control inflation,” the government said in a report seen by Reuters on Friday.

Inflation rate in December rose around 18 percent from the same month last year, data showed.

Annual inflation this year will be 18.12 percent, according to a government official quoted in a state-run newspaper on Thursday.

Prime Minister Nguyen Tan Dung said in the report that Vietnam’s first priority in 2012 would be to control inflation, with a targeted consumer price index (CPI) rise of 9 percent, while aiming for economic growth of 6 percent.

The central bank aims to cut interest rates next year to make funds easily available for businesses. Dong loan rates rose to as high as 20-25 percent earlier this year.

Exports this year jumped 33 percent from 2010 to $96 billion, above the 10-percent annual target approved by the parliament, while imports rose 25 percent to $106 billion, leaving the trade deficit at $10 billion.

Higher foreign reserves

The country’s foreign currency reserves have improved, with value equal to 7.5 weeks of imports in the third quarter ending September, from 3.5 weeks in the first quarter.

The budget deficit is at 4.9 percent of GDP, below the government’s target of 5.3 percent.

The report said Vietnam’s foreign debt this year is estimated at 41.5 percent of GDP, “within the safe level of national financial security”, but gave no debt value.

Foreign debt fell to $32.5 billion in 2010, or 42.2 percent of GDP, from $36.5 billion in 2009, government data shows.

Restructuring of banks

Governor Nguyen Van Binh said on Thursday that dong deposit rates would fall to around 10 percent by the end of 2012, suggesting lending rates could ease to 14-15 percent.

The report mentioned restructuring of the country’s banking sector as one of its targets.

In 2011, the country’s credit growth slowed to 12 percent, after rising 27.65 percent a year ago. Money supply rose about 10 percent from last December versus an annual growth of 23 percent in 2010.

Vietnam’s government hopes to shift its economic growth model away from reliance on cheap labour and capital, and is looking at improving efficiencies in banks, public spending and state enterprises.

The central bank has allowed three small partly-private lenders to merge and let BIDV, a fully state owned bank, to command the state ownership in the new entity.

 

[ViXuyen]

although we have countries using Chinese style names or written language like Korean and Japan.we ourselve also dont want any connection with Vietnam.Chinese cultural influence sphere,Korea,Japan,Hongkong,Singapore,Taiwan...are all wealth and well educated countries or areas,how come only Vietnam is this dirt poor?and beside,they look so different from us.we've got to have nothing to do with each other,they need to create their own culture.

---------- Post added at 10:07 PM ---------- Previous post was at 10:05 PM ----------



go to wikipedia and study some basic history knowledge.

That's cool that you Chinese finally acknowledge that Chinese culture has nothing to do with a success or failure of a nation; in this case Viet Nam.

I seriously don't want to see any of you Chinese making claims that our current or future success of the Vietnamese people have anything to do with Chinese culture influence; you guys need to be consistent with your stand in this issue.

 

[ViXuyen]

Most ignorant people have been fixated on the quantity of growth but Viet Nam's economic growth is no longer solely about what % of GDP growth but about the QUALITY of growth; ie the progressive MANUFACTURING capabilities of Viet Nam. The Singaporean already felt our growth as we built something like the jack-up oil rig (cost several hundred of million USD) that is something the Singaporen have been able to lease or sell to Viet Nam for years, now not only Viet Nam no longer buys or leases from them, we can also turn back and compete against them in this field as foreign oil exploration companies are required to use Vietnamese-built rig to operate in Viet Nam. It's no wonder why the Singaproean quickly turned down our request for technology transfer in rig manufacturing when we first came to them

I'm telling ya, an oil rig costs several hundred million USD/piece and somebody is losing too much money because of our growing MANUFACTURING capability already . Stupid people just look at what % of our annual GDP growth but they don't even have a clue that Viet Nam is on the path of self sufficient; the path that is so destructive to the industrialized nations

 

[Viet]

translated by google
from: Seltene Erden: Japan und Vietnam*fordern China heraus - manager magazin - Politik
15.07.2012

RARE EARTH
Japan and Vietnam challenge China

With Japanese help Vietnam wants to break the Chinese monopoly on rare earths. One mine in the north of the country from next year to deliver thousands of tons of coveted commodities. China keeps its export ban despite complaints upright before the World Trade Organization.

Hanoi - Vietnam, Japan and want to break China's dominance in the coveted rare earths. "Japan and Vietnam have agreed to strengthen their cooperation in order to start production in 2013," said Japan's Foreign Minister Koichiro Gemba on Saturday after meeting with his Vietnamese counterpart Pham Binh Minh in Hanoi.

Japan wants to participate in research, mining and processing of metallic raw materials around the Dong Pao project in northern Vietnam. The plan was to produce 3,000 tons next year and 7000 tonnes in 2014.
China has almost a monopoly on the promotion of metallic raw materials. There are more than 100,000 tons per year brought more than 90 percent of these minerals from the earth. The industrial customers are localized mainly in China. However, the country has only one-third of total global reserves. Elsewhere, mining projects, however, because of economic problems in times of low commodity prices have been terminated.

The Mountain Pass mine in California that have long been the bulk of the world production of rare earths will be delivered until the end of the Molycorp company back into operation. Another promising project is operated by the company Lynas Mount Weld mine in Western Australia. The Australian government had prevented 2009 the controlling interest of a state-owned Chinese company to Lynas. The metals from Mount Weld in the future be further processed in a newly built hut in Kuantan, Malaysia, Japan is one of the main buyers.

Rare earths such as neodymium or lanthanum are key raw materials for modern technologies. They are used in high-tech industry, the construction of hybrid vehicles or solar and wind turbines.

Beijing announced in 2010 to restrict the export of raw materials. Therefore, the EU, U.S. and Japan have sued the country at the World Trade Organization (WTO). The odds in their view, violate the rules of free trade.

@TheStreet.com

 

[Viet]

haha,we are the biggest fund provider for the developing countries,that's the hard truth.the whole world knows that.and how about your Vietnamese?how much you donated to the international community???????being dirt poor must be considered a great advantage in your people's mentality ,right? abject poverty may attract international attention and probably helps you get more free money,right??beggar's mentality,what a nation,what a shame.

why you are shouting?
just make your comments, do not need to insult the Viets.

Compare yourself with Japan or America in terms of providing funds for the developing countries. We´re still poor, we know. But we never stop, we are making progress with every year.

You´re just one of these arrogant Chinese!
Forget that China invaded Vietnam and destroyed some of our north provinces in 1979?
Has China ever payed compensation for this killing and destruction, in people and property?
I remember China was poor too, untill 90´s. Even today, China´s GDP per capita is still much lower than other industry nations.
you behalve so as badly as you have just finished the primary school. Uneducated. nouveau riche.

rich? look around you to see who earns the big money and posses the weath? like America just 1% of the population.

poor? you know, it is a question of the perspective where you are:
I bet, I make more money in a month than you in an entire year!

what a shame!