Vietnam’s economy still faces many difficulties. But, the Government’s recent measures have made the picture of Vietnam’s economy become brighter

Positive signs

Vietnam’s economy have seen good signs since early this year. Particularly, the consumer price index has slowed down over three consecutive months (0.16 percent in March, 0.05 in April and 0.18 in May), the lowest levels compared to the same period in previous years.

 The province’s trade and service activities have still gained stable growth.The State Bank of Vietnam (SBV) has decided to lower the ceiling on deposit interest rates from 14% to 12 % per annum. Foreign currency liquidity in the system has been improved; the balance of trade and the balance of payments have developed positively; foreign currency reserves have been improved; the dong/dollar exchange rate has been kept stable…

The country’s export turnover in the first five months of the year was estimated at US$42.86bln, up 24.1% against the same period of last year while import value reached more than US$43.48bln, up 6.6% against the same period of last year...

In the first half of the year, Binh Duong’s economy has maintained stable growth with industrial, agricultural and service fields reaching growth by 1.9%-16.8%. The total retail sales value of commodities and services is estimated at VND33.083trillion, up 23.5% compared to the same period of last year.

Binh Duong’s CIP has increased by 3.48% against December, 2011. Export turnover has secured US$5.122mln, up 17.9% against the same period of last year while import value has reached US$4.188mln, up 15.1% compared to the same period of last year. The province has also absorbed additional 780 new projects and 201 extra-ones with a total investment capital of VND5.586trillion and VND272mln.

More support

Over the past time, many policies to remove difficulties for the domestic economy have been implemented, including slowing down the deposit and lending interest rates; keeping a stable foreign exchange rate, restructuring weak banks; reducing tax arrears for enterprises that have business potentials, but face temporary difficulties…

Provincial Tax Department have also organized dialogues with enterprises on their queries relating to tax policies and other relevant documents; the Government’s Resolution No.13 and the Ministry of Finance’s Circular No.83 on guiding the implementation of some measures to removing difficulties in production and business and giving support to enterprises in the current difficult situation…

Reported by K.Tan-Translated by K.T