VietNamNet Bridge - National Assembly’s deputies described the government’s 2017 socio-economic development plan and the five-year economic restructuring project as ‘too ambitious’ and ‘out of reach’.

VietNamNet Bridge - Minister of Planning and Investment Nguyen Chi Dung, presenting the plan to restructure the national economy in the 2016-2020 period, said Vietnam would need VND10,000 trillion to do so.

One of the controversial points in the draft plan on restructuring the national economy in the 2016-2020 period drafted by the Ministry of Planning and Investment is the use of the state’s money to settle commercial banks’ bad debts.

Vietnam’s export growth rate was modest at 5.7 percent in the first half of 2016, the lowest in the last five years. This has raised concerns that the 6.7 percent GDP growth rate may be unattainable, while state budget revenue will shrink.

VietNamNet Bridge - The telecommunication fee in Vietnam has been decreasing sharply thanks to the policy on eliminating the monopoly in the telecom sector. However, monopolies still exist in other business fields.

VietNamNet Bridge - It is expected that large amounts of money will be pumped into circulation to obtain the ambitious target of 6.7 percent GDP growth rate. This has raised the fear that hot growth will bring high inflation back.

VietNamNet Bridge - A series of real estate projects in advantageous positions in Da Nang City and coastal areas left idle for the last 10 years have changed hands recently.

Prime Minister Nguyen Xuan Phuc has emphasized the government’s determination to fulfill socio-economic development tasks set for this year.

The moves taken by the State Bank of Vietnam (SBV) recently, since the day the new Governor took office, show that obtaining high GDP growth rate is the top priority for the bank when regulating monetary policy.

VietNamNet Bridge - If Vietnam becomes insolvent, this will have serious implications for the national economy, not just for several years, but for a few decades, economists have warned. 

VietNamNet Bridge - While Vietnam makes every effort to strive for trade liberalization internationally, it has limited liberalization internally, according to Pham Chi Lan, a renowned economist.

Samsung, LG and Intel have injected more money into Vietnam. Some multinational conglomerates are considering relocating their global production bases to Vietnam. Others are planning to set up factories in Vietnam.

Vietnam expects to grow at 6.5-7 percent for the next five years, according to a Government report tabled recently at the National Assembly on socio-economic development in 2015 and 2011-15 as well as the targets for the next five years.

VietNamNet Bridge - The government of Vietnam has said that the national economy has not been hurt by the Chinese yuan devaluation but analysts are less optimistic.

VietNamNet Bridge - As predicted, importers have tried to lower Vietnam’s rice price after the Chinese government’s devaluation of the yuan. 

VietNamNet Bridge - 7-Eleven might have its own reasons to decide to enter the Vietnamese market in 2017. However, analysts warn it is not as easy to develop convenience store chains in Vietnam as many foreign investors think.

VietNamNet Bridge - Though many Vietnamese logistics firms have become integrated 3PL (third-party logistics) service providers, they can only join the market at a primary level.

Many Vietnamese workers are upset by the meagre 10 per cent suggested pay increase proposed by the Vietnam Chamber of Commerce and Industry for next year's national minimum wage.

The competitive power generation market would become operational expeditiously by 2018, together with the pilot implementation of competitive wholesale power market.

VietNamNet Bridge - Businesses are now gearing up with their production plans, preparing for the year-end high sales season, anticipating an increase in purchasing power.