He asked the financial sector to take the initiative in overcoming difficulties facing Vietnam’s economy while studying economic policies of neighboring countries to serve domestic economic development. PM Nguyen Xuan Phuc addressing the conference. Photo: hanoimoi.com.vn Deputy Finance Minister Tran Hong Ha said that in 2018, the financial sector will continue its cautious management of fiscal policies in close combination with monetary policies, further stabilize the macro economy, curb inflation and promote economic growth. Besides, more efforts will be channeled into collecting state budget, closely controlling budget spending and tightening financial regulations, he added, stressing that budget collection is expected to grow by 3 percent against the estimate assigned by the National Assembly and budget overspending is projected to be capped at 3.7 percent of GDP as set by the legislature. Bui Van Nam, head of the General Department of Taxation, said the tax sector will propose the NA issue a resolution to scrap irrecoverable and lingering debts to strengthen the national financial system, along with pushing the administrative reform. General Director of the State Treasury Nguyen Hong Ha said that State Treasury has instructed its branches in cities and provinces to closely coordinate with relevant agencies to swiftly gather budget contributions, and urged investors to speed up the disbursement process. By the end of 2018, public debt ratio is set at about 63.9 percent of GDP, Government debt at 52.5 percent of GDP and foreign debt at about 47.6 percent, with public debt structured towards sustainability, heard the meeting…. [Read full story]
The PM made the above statement on Saturday at the Viet Nam Information and Communication Technology (ICT) Summit 2016 themed “Digital revolution – Opportunities and challenges.”The event, jointly organized by the Viet Nam Software and Information Technology Services Association (VINASA) and the Ministry of Information and Communications, attracted the participation of more than 500 delegates from ministries, agencies and businesses.The participants to this year’s summit will focus discussions on innovation and national startup, IT infrastructure development, Internet connection trends, and human resource development.The aforesaid topics are the Government’s top priorities, said PM Phuc, adding that the country is striving to…... [read more]
PM Nguyễn Tấn Dũng () presides over the 7th meeting of the National Committee for ASEAN Chairmanship 2010, Hà Nội, October 21, 2010 - Photo: VGP/Nhật Bắc The Government chief made the statement at the 7th meeting ofthe Committee convened on Thursday. The 17th ASEAN Summit and related summits with ASEAN dialoguepartners are important events during Việt Nam’s year of ASEAN Presidency, hesaid. Việt Namhas effectively and actively contributed to the building of the ASEAN Communitywith all three pillars, the promotion of ties between ASEAN and its partners,and ASEAN’s increasing role and prestige as well. By Hải Minh... [read more]
Prime Minister Nguyen Xuan Phuc has called for stronger co-operation and coordination in policymaking among APEC’s member economies towards establishing a stable financial system and achieving sustainable development.Speaking at the opening ceremony of the 24th APEC Finance Ministers’ Meeting (FMM) in ancient city of Hoi An, Quang Nam Province, on Saturday, he noted that the meeting was the most important event under the APEC Finance Ministers’ Process (FMP).FMP is a forum for APEC member economies to address regional macroeconomic and financial issues as well as domestic and regional financial policy priorities.Phuc said the FMM was taking place in the context…... [read more]
Deputy PM stresses innovation of local startupsThe Saigon Times Daily HCMC – Young entrepreneurs should be courageous, innovative and should not fear failure, Deputy Prime Minister Vu Duc Dam told the startup community at the annual festival for the startup ecosystem Techfest Vietnam 2017 on November 14. “We can go fast when going alone, but going together can take us far. We need the communities of startups, investors and researchers to grow strong,” Dam was quoted by the Government news website as saying, urging more support for local startups to ensure their sustainable development. According to the Deputy PM, to…... [read more]
The Ministry of Finance reported a more stable financial market in 2013, what are your thoughts on this analysis? Looking back on the performance of the government bond market, securities and insurance last year, I think the Ministry of Finance’s appraisal is sound. Stock market transaction value averaged VND2.578 trillion ($122 million) per session last year, up 31 per cent against 2012 with market capitalisation reaching VND964 trillion ($46 billion), rising VND199 trillion against 2012. Notably, outbound capital sources rose 54 per cent with foreign portfolio values jumping $3.8 billion against the end of the previous year. Total capital raised…... [read more]
