Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >>   Economy  >>   Vietnam targets inflation
NEWS UPDATES Asean Affairs     28 October  2011

Vietnam targets inflation

The Vietnamese government has been urged to redouble efforts on curbing inflation to below 10 percent and shift focus away from a high economic growth target for 2012.

The call was made by many deputies said at the National Assembly during discussions this morning.

However, with this year's annual inflation expected to be 18 percent, compared to nearly 12 percent in 2010, achieving single-digit inflation will be extremely difficult.

"It's not necessary to raise the growth rate of Gross Domestic Products (GDP) to 6-6.5 percent next year," said deputy Mai Huu Tinh, who represents the southern province of Binh Duong.

"The far more important task is lowering annual inflation to less than 10 per cent."

Viet Nam's targeted economic growth for 2012 is slightly higher than this year's growth rate.

The country's GDP increase this year is expected at 6 percent, lower than the rate of 6.78 percent in 2010. The index grew by 5.43 percent in the first quarter, 5.67 percent in the second quarter, and 6.11 percent in the third quarter.

Deputy Truong Minh Hoang from the southernmost province of Ca Mau said the government should even accept a lower economic growth next year than this year, while according to HCM City's deputy Tran Du Lich, one-digit inflation is "the number one target".

"If two-digit inflation continues in 2012, all the economic achievements the country has gained during many years will vanish into thin air," said Lich.
The Consumer Price Index reached its peak this year in April, and has since declined gradually.

Deputy Mai Huu Tinh said most small and medium-sized enterprises are now close to shutting down.

"They won't be able to survive long if interest rates stay above 15 percent per year and inflation over 10 percent," he said.

The high rate of inflation and interest rates has resulted in massive bankruptcy of small and medium-sized businesses, a sector that account for 95 percent of enterprises in Vietnam.

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

Comment on this Article. Send them to

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
submit your comment in the box below




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    28  October  2011 Subsribe Now !
• Indo legal system terrorism weak point   Subcribe: Asean Affairs Global Magazine
• Corruption concerns grow in Indonesia  Asean Affairs Premium

• VietNam, Laos discuss increased cooperation

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Malaysian schools to get wired
• International sanctions in Singapore
• Japanese experts weigh in on Thai flood
• Thai businesses cite information gap

• Vietnam targets inflation


Asean Analysis              28  October  2011

Advertise Your Brand
• Asean Analysis-October 28 Sponsor Our Events

Asean Stock Watch      28  October  2011

• Asean Stock Watch-October 28 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


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