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Posts Tagged ‘control’

NATO targets ceding control of Afghan war to Kabul

In Uncategorized on November 19, 2010 at 3:27 am

Proposal to control invasive species

In Uncategorized on November 15, 2010 at 2:30 pm

How to control the trade deficit in 2010

In Uncategorized on October 22, 2010 at 3:54 pm

How to control the trade deficit in 2010

QĐND – Friday, October 22, 2010, 22:35 (GMT+7)

The trade deficit is predicted to increase sharply in the remaining months of this year, raising concerns for managers and businesses, and posing challenges to the management of the country’s macro-economy.

Over the past nine months, Vietnam’s trade deficit has risen to US$8.6 billion, accounting for 16.7 percent of total export turnover.

A Radio Voice of Vietnam (VOV) reporter interviewed Dr. Ho Duc Hung, Head of the Economic Development Research Institute at the Ho Chi Minh City University of Economics on the issue.

Reporter: Many economic analysts have predicted that the import surplus is likely to rise by the end of this year. What has caused the rapidly increasing trade deficit in recent months?

Mr Hung: Firstly, the Vietnamese economy is bouncing back from the global economic downturn and businesses’ demands for imports to boost production are rising. Secondly, there are growing needs for commodities for the lunar New Year Festival. Lastly, to fulfill their export targets, businesses have to import raw materials, which has sent the import surplus soaring in the remaining months.

Reporter: The industrial sector has an import surplus of less than US$13.5 billion for 2010. With the increasing trade deficit, is this target achievable?

Mr Hung: The National Assembly’s target is to keep the trade deficit, 20 percent lower than export turnover. However, this target is unlikely to be reached as it is hard to post a high export growth in agricultural and aquatic products and minerals this year.

In addition, the export of crude oil is dropping as oil producers have to provide a relatively high volume of crude oil for the Dung Quat Oil Refinery which has led to lower oil exports.

Garments and textiles are facing tough competition from China, especially in the US market.

Reporter: What should be done to limit the trade deficit and stabilise the macroeconomy?

Mr Hung: In fact, the import surplus is good, if it supports an export surplus. However, it is a question of the structure of imported goods, not measures to control the trade deficit. Therefore, we need to root out the problem by limiting the import of luxury goods, develop supporting industries and stop the import of goods through unofficial trade channels.

Reporter: Do you think the adoption of policies to encourage businesses to build domestic distribution systems for the rural market is a good way of controlling the trade deficit?

Mr Hung: Expanding the domestic market is also a way of competing with imported goods. By doing so, it is essential to develop distribution networks from urban to rural areas to help these products gain a foothold in the domestic market, and encourage Vietnamese to use Vietnamese products and minimise the use of foreign goods.

In addition, it is necessary to create environmental hygiene and safety standards to protect domestic production. If such measures are taken comprehensively, import surplus will fall.

Reporter: Thank you very much.

Coffee prices hit a record high

The price of coffee has risen a record to VND31,500 per kilogram in the past two years.

The price of coffee increased from VND29,000 on October 19 to VND30,000 on October 20 and to VND31,500 per kilogram on October 21.

According to the Vietnam Cacao and Coffee Association (Vicofa), the domestic price of coffee has risen because of a shortage on the world market and international businesses are rushing to purchase coffee. In addition, heavy rains have hit key coffee plantations areas in Vietnam, worrying investors.

Source: VOV

Source: QDND

Government efforts to control prices pay off

In Uncategorized on July 27, 2010 at 3:24 pm

Government efforts to control prices pay off

QĐND – Tuesday, July 27, 2010, 20:59 (GMT+7)

The very slight increase in July’s Consumer Price Index (CPI) is attributed to the government and local authorities’ efforts to curb inflation, reports the General Statistics Office (GSO).

According to the GSO, July’s CPI is estimated to have risen by only 0.06 percent over last month, much lower than the earlier forecasts of 0.2-0.3 percent and is the lowest monthly growth in CPI for a past year.

The government’s policies to stabilise prices have started to pay off in recent months driving July’s CPI growth to a record low, said the GSO, citing the gradual decrease in the CPI, from 1.35 percent in the first quarter to 0.21 percent in the second quarter and to 0.44 percent in the third quarter.

However, there are still many things to do to achieve the government’s target for this year’s growth in inflation to be under 8 percent, as so far inflation this year has climbed to 4.84 percent, the GSO said.

Meanwhile, the Ministry of Planning and Investment (MPI) seems to be more optimistic, predicting that the CPI in August will continue to increase slightly and inflation for the whole year will be kept below the target.

As the economy is still to make a full recovery and people’s incomes have not improved much, a rise in the prices of essential goods items will have a considerable impact on people’s lives, according to the GSO.

Moreover, factors emerging from the world’s economy recovery that may affect input costs as well as natural disasters are likely to result in a surplus in demand, making the prices of essential goods surge suddenly, leading to a rise in inflation, it said.

Therefore, according to the GSO, central government and local authorities should be well prepared to take flexible measures and stabilising exchange rates and ensuring the market’s liquidity are top priority.

Recent moves taken by authorities in the larger provinces and cities to help local businesses stock up with goods in anticipation of a possible surge in prices and the Ministry of Finance’s decision to ask petroleum traders to restrict changes to petrol prices are down to the government’s determination to stop inflation from rising.

Source: VNA

Source: QDND

To promote exports, control imports

In Uncategorized on July 15, 2010 at 4:51 pm

To promote exports, control imports

QĐND – Thursday, July 15, 2010, 20:43 (GMT+7)

On July 14, the Ministry of Industry and Trade (MoIT) sent a directive on measures to promote exports, control imports and limit this year’s import surplus.

These measures are aimed at stabilizing the marco economy, curbing inflation and reaching economic growth rate of 6.5 percent with export turnover of just over 6 percent.

MoIT Minister Vu Huy Hoang asked the Import and Export Department to work with the Ministry of Agriculture and Rural Development and other associations to take measures to promote exports, expand markets, and tap the traditional and potential markets to improve the export turnover of agricultural and aquatic products.

Besides, the department will cooperate with the Interior Ministry to formulate a project on establishing inter-committee on import and export under the direction of Deputy Prime Minister Hoang Trung Hai.

Source: VOV

Source: QDND

Health authorities control dog import to slow cholera outbreak

In Uncategorized on July 15, 2010 at 1:08 pm

A dog meat shop in Hanoi. (Photo: SGGP)The Ministry of Health has asked local authorities to closer control the importation of dogs to prevent cholera from entering Vietnam, after imported dog meat had tested positive for vibrio cholerae in Hanoi’s Ha Dong District 

The Ministry of Health proposed that the Ministry of Agriculture and Rural Development test imported dogs at border gates to prevent cholera from entering Vietnam.

Cholera infested dog meat discovered in northern provinces was mostly imported from Laos and Thailand via the Thanh Hoa Province border, which has long been considered a hot spot for cholera transmission.

The 12 provinces and cities that have recorded the most cholera cases believe victims acquired the disease from their consumption of unsanitary foods, including dog meat, uncooked vegetables, blood pudding, ice and street food.

Source: SGGP

Foreign exchange market remains in control: central bank

In Uncategorized on July 3, 2010 at 12:04 pm

In response to the rising demand for US dollars, the State Bank of Vietnam (SBV) asserted last week that the foreign exchange market remains stable and is under control. 

A teller counts US dollar banknotes at a bank in Ho Chi Minh City (Photo: SGGP)

US dollar credits on the rise
It has not just been in July alone, as trade of US dollars has been soaring since early this year.
At banks, due to a difference between interest rates of loans in Vietnam dong and US dollars, sometimes up to 7-8 percent and the general stability of dong-US dollar ratio, most of enterprises have preferred borrowing loans in dollar than dong.
According to SBV, loans offered in dong only increased by 3.51 percent, while those in dollar surged by 20.23 percent in the first five months.
Dollar transactions hiked sharply during the last week of June when trading volume in the interbank market soared over US$500 million. Overnight and one-week-term interest rates also increased slightly.
However, the rate for six-month-term loans rose unusually, from 0.99 percent to 3 percent per year.
On the free market, purchase of dollars has increased.
The dong-US dollar rate has been high at commercial banks in recent days, over VND19,000 per dollar, and the gap between buying and selling prices has been over VND100 per dollar.
Financial experts said the country’s trade gap in the first half of the year, which accounted for 21 percent of the total export turnover, has caused worries for people and enterprises.
They have worried that the rate would rise further and have bought dollars to save and pay their loans, experts added.
In addition, they said, companies have issued a considerable volume of bonds in foreign currency, and this has led to a high demand for dollars and a hike in Vietnam’s US dollar central parity rate.
The change of exchange rate yet to cause concern
The Central Bank said its foreign currency reserves are still safe because the interbank average exchange rate remains unchanged at VND18,544 per US dollar; it has bought dollars at a price of VND18,980 per dollar, commercial banks have pushed to sell dollars to the Central Bank, and the supply of US dollars has been abundant on the foreign currency market.
According to SBV, dollar sources from overseas remittance, FDI disbursement and tourism have likely increased, with overseas remittance reaching US$3.6 billion in the first six months.
Therefore, the US dollar supply and demand is unlikely to see the unusual change many people expected.
However, the Central bank has asked credit organizations to control the growth of loans offered in dollars and keep them at reasonable rates that are appropriate to the mobilizing capacity of banks.
Dr. Tran Huy Hoang, head of the Ho Chi Minh City University of Economics’ Banking Faculty, said the current dong-US dollar rate shows a proper parity between the two currencies and represents a healthy economy.
Therefore, he said, SBV has not yet needed to adjust the rate, adding that the rate will help facilitate business and production, especially exports, and limit the trade gap.
To balance supply and demand of US dollars, relevant agencies need to strengthen their management on imports and exports, and limit or ban the importation of luxurious commodities and products that are also produced in Vietnam, he said.
In addition, SBV and commercial banks need to monitor tightly enterprises’ loan usage, he added.

Source: SGGP

Japan helps VN raise capacity in natural disaster control

In Uncategorized on July 1, 2010 at 6:22 pm

Japan helps VN raise capacity in natural disaster control

QĐND – Thursday, July 01, 2010, 21:19 (GMT+7)

The Japanese Government will help Vietnam raise capacity in coping with natural disasters caused by climate change through a programme worth 2 billion JPY (22 million USD), according to the Japanese Embassy in Hanoi.

Documents on the programme were signed in Hanoi on June 30 by Japanese Ambassador to Vietnam Sakaba Mitsuo and Natural Resources and Environment Minister Pham Khoi Nguyen.

The Japanese embassy’s press release said the programme is under the framework of the Japanese Government’s non-refundable aid and it will focus on improving the rain and flood forecast and warning system in Vietnam ’s northern region.

Ambassador Sakaba said he hope that through the strategic cooperation relations between the two countries, particularly the programme, the two sides would join hands to implement activities to cope with global climate change and Vietnam would strengthen its mechanism on natural disaster control to protect people’s lives.

Japan has actively assisted Vietnam in strengthening its disaster control capacity through the provision of loans and non-refundable aid and technical cooperation.

As one of the countries hardest hit by climate change, the Vietnamese Government considered natural disaster mitigation as an important issue in socio-economic development. The nation’s strategy in natural disaster control and mitigation till 2020 has set a target of raising capacity of meteorology forecast.

Source: VNA


Source: QDND

Blue ear under control in Hanoi

In Uncategorized on June 24, 2010 at 12:41 pm

Porcine Reproductive and Respiratory Syndrome Virus, also called blue ear, has not occurred in Hanoi for ten days, said the capital city Department of Animal Health on June 23.

Blue ear has not occurred Hanoi for ten days so customers feel secure to eat pork

Veterinaries continued treating diseased pigs in suburban Hanoi districts Gia Lam, Dong Anh, Thuong Tin and Me Linh.

Despite its recession, animal health officials warned that farm owners should keep alert for the disease as there will be several heat waves moving through the northern and central regions of Vietnam over the next three to four days to badly affect animal’s resistance to illness.

Therefore, breeders need to keep their farms clean and their animals fully fed and vaccinated.

Specifically, breeders should only purchase breeding pigs from known companies with testing certificates from relevant agencies.

Furthermore, farmers should quarantine new pigs in separate pigsties for 21 days.

Source: SGGP

Pig disease still out of control

In Uncategorized on May 27, 2010 at 5:09 am