The number of U.S.
dollar millionaires in Vietnam as bright spots in the economy in last year’s
first half increased by 33% from the previous year’s same period, but the dark
side is that the rich-poor gap remains wide, according to the Central Institute
for Economic Management (CIEM).
In a report on income gap reduction, CIEM cited results
of a survey conducted by the wealth management firm Merrill Lynch Global Wealth
Management and the consulting firm Capgemini on U.S. dollar millionaires in
Asia in the first half of last year.
According to official statistics of the Vietnam Stock
Exchange, the number of U.S. dollar millionaire in Vietnam amounted to nearly
170 last year, with 100 richest people on the stock exchange holding assets
worth over US$2 million each and two people meeting requirements of the
US$100-million club.
“This is a good and encouraging signal after 20 years of
renovation,” said CIEM in its report.
However, CIEM also cited a report of the Ministry of
Labor, War Invalids and Social Affairs issued last year, saying that the number
of poor households nationwide was one million, up 50% under the new poverty
standards and accounting for 20% of the population.
This contrary picture reflects the economic growth going
in line with negative effects, in which the income gap has become wider. In
other words, according to the World Bank, the disparity between the rich and
the poor in Vietnam has changed from being relatively small in 2002 to
increasingly wider between groups.
The income differential between cities and regions has
also turned clearer. Specifically, the average income per capital was around
US$1,850 in Hanoi, US$3,000 in HCMC and US$2,350 in Can Tho last year.
Besides, the figure in Ba Ria-Vung Tau Province in 2010
reached US$5,800, five times higher than the country’s average income at that
time. While HCMC and Hanoi only set the income per capital targets of some
US$4,800 and US$3,300 respectively in 2015, the target set by Ba Ria-Vung Tau
is US$11,500, and even US$15,000 if inclusive of crude oil.
On the contrary, the income of poor provinces is very
low, with only around US$900 per capita per year in Nam Dinh Province, over
US$700 in Bac Kan Province, over US$400 in Quang Ngai and less than US$300 in
Ha Giang Province.
SGT
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programmes. Many thanks for visiting www.yourvietnamexpert.com and/or contacting us at contact@yourvietnamexpert.com
No comments:
Post a Comment