Improving product competitiveness will help the Mekong Delta province of Ben Tre take full advantage of the lower tariffs to be offered under the EU–Viet Nam Free Trade Agreement (EVFTA).
Both multinationals and local companies have given
lower salary increases this year compared to 2015, a survey by Mercer, a
leading global provider of human resource services, and Talentnet Corp,
its associate in Viet Nam, has found.
Vietnamese shares declined yesterday as investor confidence was driven
down by lower oil prices and fears over negative economic conditions on
the global markets.
The country will receive adequate power this summer, Dinh The Phuc,
deputy head of Electricity Regulatory Authority of Viet Nam (ERAV) under
the Ministry of Industry and Trade, said.
Prime Minister Nguyen Tan Dung has signed a decision to lower lending
rates for needy households, policy beneficiaries, and students seeking
loans at Viet Nam Bank for Social Policies (VBSP).
A stable economy is having a positive effect on consumer confidence and
this together with lower oil prices and interest rates should cause
spending to improve this year, Richard Leech, executive director of CBRE
Viet Nam, has forecast.
Advance estimates indicate that the financial climate next year will
bring in winds of change. Viet Nam''s gross domestic product (GDP) growth
rate is forecast to reach 5.67 per cent next year, while its consumer
price index (CPI) will be 7 per cent.
Viet Nam could see lower growth rates due to tighter US monetary policy
and a slowdown in China''s growth, but currency devaluation, robust
consumption and government spending will help protect growth rates,
according to the latest report from accountancy institution ICAEW.
Following the State Bank of Viet Nam''s decision to lower the deposit
interest rate cap to 7 per cent in June, banks have cut interest rates
accordingly.