Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Vietnam News  >>   Economy  >>   Vietnamese income gap widens
NEWS UPDATES Asean Affairs           11   August  2011

Vietnamese income gap widens

Related Stories
 

August 9, 2011
Inflation continues to rise in Vietnam

July 26, 2011
Vietnamese inflation rises dramatically

June 28, 2011
Vietnam forecasts trade deficit of US$6.6 billion

June 21, 2011

Vietnam businesses lack confidence

June 15, 2011
Vietnam hosts workshop on sustainable development

The gap between Vietnam's rich and poor widened 9.2 times last year, according to recent General Statistics Office data.

The agency's 2010 Survey on Household Living Conditions reported that the personal average income among the rich came to VND3.4 million (US$165) while the number was VND369,000 ($18) among the poor. In general, the average per capita income last year stood at VND1.387 million ($67.5) per month.

The GSO's recent findings confirmed "what everyone has already felt," said Kenochi Ohno, research director at the Ha Noi-based Japanese think tank Viet Nam Development Forum.

"Viet Nam is rapidly becoming more unequal, mainly due to the fact that policy capability has not caught up with the new realities of a market economy and increased globalization," he added. Viet Nam's Gini-coefficient, which measures how wealth is distributed, rose to 0.43 in 2008, a number generally considered as an inequality "warning", the report said.

The rich and poor also differ in terms of spending power, the spending gap in healthcare measured at 3.8 times, while that for education was 6 times and 131 for culture, sports and entertainment.

According to professor Ohno, the largest cause for the rich-poor gap lies in the asset sector rather than in the annual flow of income. While workers, house renters and recent migrants to the city continue seeing their wages and salaries eroded by inflation, long-term urban residents have been able to reap huge profits from the "real estate casino."

"If you happen to own a house or land in Ha Noi or HCM City, you're a winner," Ohno said. "Urban people without assets, especially migrant workers from the countryside, are the losers. Their rent and living costs are skyrocketing and their living standards are falling sharply."

Nguyen Tien Phong, head of the Inclusive and Equitable Growth Team at the UNDP in Viet Nam, said that the situation calls for a raise in the level of "inclusiveness" within the country's economic growth model. This would entail providing equal access to social services and having appropriate mechanisms set in place for the redistribution of assets and incomes, among others.

"It's even more appropriate if one considers the goal of development not only in terms of GDP growth, but also people's welfare," Phong said.

"Economic growth is not enough, equal opportunities in terms of jobs, access to social services and better welfare are all important factors influencing people's happiness and quality of life."

Valerie Kozel, a senior economist at the World Bank in Viet Nam, said that findings have simply reaffirmed that poor households, mostly in rural and mountainous areas, are not progressing quickly enough.

"The government needs to look more carefully at what factors are driving rising inequality and also at how to ensure more rapid progress among poorer households in the future," she said.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code



 
Today's  Stories    11  August  2011 Subsribe Now !
• Asean economy sound 
Subcribe: Asean Affairs Global Magazine
• Asean trade ministers push to end tariffs Asean Affairs Premium
• Beer attendant protest in Cambodia
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

 
• Jakarta to turn waste into energy
• Malaysia tries to contain prices
• Philippine export sales contract
 • King urges new government to work for peace
• Vietnamese income gap widens

Asean Analysis    11  August  2011

Advertise Your Brand
• New carrier raises South China Sea tensions Sponsor Our Events

Asean Stock Watch   11  August  2011

 
• Asean Stock Watch-August 11 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com