VietNamNet Bridge – Answering questions of correspondents on
handling banking crime, Chairman of the Government Office Vu Duc Dam confirmed
“anyone who breaches the law is strictly punished, there is no forbidden zone.”
At the monthly government press
conference on September 5, correspondents questioned Dam about the influence of
the arrest of banker Nguyen Duc Kien and measures to deal with banking crime.
Dam said that at the recent
meeting of the steering board for anti-corruption, the board’s head – Prime
Minister Nguyen Tan Dung, mentioned illegal acquisition in the banking sector.
He said the banking system is the
lifeblood of the economy. The banking system’s weaknesses have been one of the
major causes for macroeconomic instability in the past few years. Therefore,
the restructuring of the banking system to ensure the healthy development of
the economy is the top priority task at present. The problem had been raised
before the arrest of Nguyen Duc Kien.
“The government’s viewpoint is:
the banking system must be cleaned up to make the lifeblood of the economy to
be streamlined. Anyone who breaches the law must be strictly punished, there is
no forbidden zone,” Dam stated.
He said the arrest of Kien
initially affected the Asia Commercial Bank (ACB) but the bank’s operation has
been quickly stabilized.
Good signals for the national economy in August
According to cabinet members,
Vietnam’s socio-economic situation in August saw various positive signs of
development.
The consumer price index (CPI) in
August bounced back to 0.63 percent after two consecutive months of decline,
bringing CPI growth in eighth months to 2.86 percent compared to 2011 and 5.04
percent to the same period last year.
Thanks to the effectiveness of
the recent flexible management of monetary policy, interest rates fell 4-5
percent per year, consistent with indicators such as inflation, macroeconomic
growth and monetary markets. Many commercial banks have offered favorable
credit packages with low interest rates of 9-10 percent per annum.
Export earnings in August were
estimated at US$9.8 billion, down 3.8 percent from July, while import revenues
reached US$9.95 billion, up 3.5 percent. Trade deficit in the first eight
months of this year hit around US$62 million, or 0.08 percent of export values.
Measures to help business sectors
to iron out snags, as addressed in government resolution 13, has proved
effective with the index of industrial production (IIP) increasing by 4.1
percent compared to the previous month and 4.4 percent against the same period
last year.
Agro-forestry-fisheries
production continued to enjoy stable development. Total retail sales of
consumer goods and services in the first eight months rose 17.9 percent over
the same period in 2011.
Meanwhile, social welfare and
security was maintained with one million new jobs created over eight months. Ministries
and agencies successfully implemented measures to deal with natural disasters
and reduce poverty sustainably, especially in poorer districts, including
assistance for rural laborers to access vocational training.
However there remained challenges
facing the nation, such as low economic growth, slow progress of bad debt
settlement, the complicated financial and monetary situation, high inventory
levels, and the increasing closure of businesses.
Le Nhung
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