An overview of the conference (Source: http://thoibaonganhang.vn) Hanoi (VNA) – A statistical project on measuring the non-observedeconomy, including underground and illegal economies, will be proposed to thePrime Minister for approval this year, said head of the Vietnam GeneralStatistics Office Nguyen Bich Lam.Speaking at the Ministry of Planning and Investment’sconference on January 15 to review the ministry’s work in 2017 and implement2018 tasks, Lam said that the project aims to collect information on economicactivities that affect the scale of the economy but are not measured in GDP, inorder to achieve more accurate economic indicators.According to him, underground economy includes legaleconomic activities which are hidden intentionally to avoid tax and socialinsurance payment or avoid implementing State regulations on minimum salary andmaximum work hours as well as legal and administrative procedures such asfinancial and statistical reports.Meanwhile, illegal economy comprises of banned activities,including drug production and trading, prostitution, and those which are notbanned by law but conducted by illegal producers.The non-observed economy also contains informal householdeconomy and those missed by the statistical system, Lam added.The head of the statistical sector promised that when theproject gets the green light in the first quarter of this year, the sector withwork with relevant ministries, sectors and localities to find out a feasiblesolution to implementing the project.He affirmed that in 2018, the sector will ensure statisticalinformation, improve the quality of statistical work, especially analysis andpredictions on macro-economic situation, and conduct research on growthscenarios serving management work.It will also adjust the GDP scale on the basis of theresults of… [Read full story]
A senior EU trade official says that Vietnam will meet all the five criteria for the world’s largest trading bloc to recognise the country as having a market economy by 2018. Stefan Depypere, Director of Trade Defence under the European Commission Directorate-General for Trade, stated this at a press briefing in Hanoi on September 24 at the end of his visit to Vietnam. He said he saw the progress made by Vietnam’s ministries and industries on the criteria for a market economy. The EC trade representative also made public the positive outcomes of the ninth round of negotiations and said…... [read more]
India is set to overtake the United Kingdom and France to become the world's fifth largest economy next year, a report said Tuesday. Indian workers and brokers gather outside the Bombay Stock Exchange (BSE) to celebrate the benchmark 30-share index SENSEX crossing 34,000 points in Mumbai on December 26, 2017 Currently ranked seventh, India will move up to fifth place in 2018 and vault to third spot by 2032, the Centre for Economics and Business Research, a London-based consultancy, said in its annual rankings.The Indian economy hit a three-year low in the first quarter of the current financial year, after…... [read more]
Currently ranked seventh, India will move up to fifth place in 2018 and vault to third spot by 2032, the Centre for Economics and Business Research, a London-based consultancy, said in its annual rankings.The Indian economy hit a three-year low in the first quarter of the current financial year, after Prime Minister Narendra Modi's snap decision in November 2016 to scrap high-value banknotes and following a tax overhaul.Growth slumped to 5.7 per cent for the three months ending June but recovered slightly to 6.3 percent for the quarter ending September."Despite temporary setbacks ... India's economy has still caught up with…... [read more]
The Hanoitimes - The Hanoi People’s Committee has recently issued Decision No. 8450/QD-UBND, approving project on reforming, developing cooperative economy in agricultural cooperatives in Ha Noi to 2020. Under the Decision, Hanoi sets targets for 2018 as followings: 100% agriculture cooperatives run their business in accordance with the Law on Cooperative 2012, 60% of the cooperatives have good performance, and only 10% have poor performance. There are three models of connecting cooperatives and enterprises in the field of production and consumption, and two others connecting chains in the field of farm production. All key staff are trained, and are provided…... [read more]
Updated at Monday, 08 Jan 2018, 05:54 The Hanoitimes - Experts said that the securities market is likely to be the most attractive investment channel for investors in the Vietnamese economy in 2018. They attribute this to the Government’s efforts to improve trading conditions, upcoming sales of large-cap State-owned enterprises and undervalued shares. The securities market has witnessed strong growth since the beginning of 2017, surpassing analysts’ expectations, and promises to break its old peak of 1,075 points made in November 2007. The benchmark VN Index on the HCM Stock Exchange has gained nearly 51 percent since the end of…... [read more]
