Vietnam

Fuel prices have been reduced but it seems like the government has another strategy in mind.

The five-time policy rate cut recently thus seems futile.

The comment came no less from the Foreign Investment Agency.

Families relying on remittance may need to cut expenses as the global economy slows down and interest rates on the dollar are kept under control.

That's for the first 6 months of 2012 alone and the number continues to rise as the city targets 16.5 million tourists by 2015.

Four months’ export turnover up 22.1% to US$33.4 billion, while international tourism soars by 22.9% totaling to 2.4 million.

The plan covers a targeted yearly growth of 7-8% and includes creating room for more private businesses to develop.

The country’s four biggest local brands Mekong Oil, Prolimex, Vilube and Mipec have grown substantially from 7 percent in 2010 to 11 percent in 2011 percent.

A buying binge of desktop computers and laptops is in the offing for 2012.

The China Development Bank will lend US$200 million to the Bank for Investment and Development of Vietnam to develop several projects.

Vietnam is restricting the establishment of new banks.

Vietnam’s accommodative monetary policy has resulted in high inflation and prohibitive borrowing costs.

DBS says the country’s inflation will likely register a high 18.6% this year.

This condominium development in Vietnam is currently the tallest in District 7, Ho Chi Minh City.