HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 11742
Location: Los Angeles, California
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 Posted: Thu Feb 28, 2008 12:25 pm Post subject: |
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Thanks for the updates on Vietnam. I also found this post interesting:
http://www.vnbusinessnews.com/2008/02/inflation-rate-hits-15-highest-in-more.html
| Quote: | Meanwhile, the government has been phasing out subsidies for various commodities, including oil. It announced a 12% hike in gas prices this week and a 35% hike for diesel.
While Viet Nam's inflation rate is cause for concern, the country remains an attractive investment destination, said Adam Sitkoff, director of the American Chamber of Commerce in Hanoi.
"Vietnam is still a cost-competitive place to manufacture products," Sitkoff said. "I don't think inflation will make Vietnam less appealing to investors, but it will hurt Vietnam's poor."
In an effort to curb rising prices, Viet Nam's central bank has recently increased interest rates by half a percentage point. It has also ordered commercial banks to buy 20.3 trillion dong (US$1.3 billion) in treasury bills and asked commercial banks to raise their cash reserves. |
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