The rising number of exhausted businesses will hinder the economy from recovering its growth next year, said the National Financial Supervisory Committee. In the first four months of 2013, about 16,600 firms were disbanded or became inactive, up 16.9% year-on-year, the committee said in a report. Restrictions on credit access and unpleasant production and business situation made a lot of enterprises... 

REUTERS – Major stock markets and the dollar fell on Wednesday after unexpectedly weak growth in U.S. private-sector jobs and services dented optimism about the world’s largest economy. Crude prices slumped more than 2 percent as oil stockpiles swelled in the United States, the top oil consumer, where a struggling economy is limiting demand for fuel. U.S. companies hired at the slowest... 

Vietnam may benefit the most from the Trans-Pacific Partnership (TPP) among the countries joining the talks over this agreement, said Professor Peter A. Petri from the U.S.-based Brandeis University. Between the date of signing and 2025, Vietnam may earn US$26.2 billion every year, or 7.7% of the country’s GDP, from trade with the current TPP negotiating partners, even higher than US$23.9 billion... 

REUTERS – A U.S. economic contraction in the fourth quarter pressured stocks in Europe and the United States on Wednesday even as it bolstered expectations the U.S. central bank will continue its easy monetary policy and kept the euro near a 14-month high. Positive stock sentiment after strong results at Boeing and Amazon.com and a strong private sector employment report was largely offset... 

HSBC Global Research in a just-released report says Vietnam’s effort to eliminate bad debts in 2013 is not enough as the fundamental issue is to improve the efficiency of the economy to lure foreign capital for long-term development. HSBC expects a fiscal stimulus to spur growth is unlikely in 2013 as tax revenue has been decreased and state expenditure must be cut. Tax revenue collected dipped to... 

Two-way trade between the United States and Vietnam has continued to fare well though the fiscal cliff looms large stateside and a number of macro-economic issues remain unsolved in Vietnam. U.S. Ambassador to Vietnam David Shear told the Daily after a function Intel Vietnam hosted last Friday in HCMC that he expected the bilateral trade would continue increasing, especially when the American and... 

Given the developments in the year to date and possibly influential factors in the final months, the whole-year inflation rate may be 8% as targeted, say the latest macro-economic reports of HSBC Vietnam and Vietcombank Securities Company. The report of HSBC remarks the consumer price index (CPI) had risen 7% year-on-year by the end of October. After a sudden increase in September, the monthly inflation... 

The burden of taxes and fees on citizens and businesses is getting increasingly heavier as the State budget is expanding the scale of collection, according to two recent studies. Vu Nhu Thang, head of the Institute of Strategy and Policy on Finance under the Ministry of Finance, said the average State budget revenue in the last ten years stood at 26.6% of GDP, in which revenue from taxes and fees... 

According to a UNDP-funded economic report, Vietnam’s fee and tax rates against GDP are 1.4-3 times higher than other countries in the region. However, Vietnamese officials as well as experts from the World Bank (WB) and International Monetary Fund (IMF) shared the view that the country’s tax-sourced budget collection is of medium level in the world. Official statistics from many sources in the... 

The 2012 report about the national economy just released by the National Assembly’s Economics Committee, has pointed out that Vietnamese people have been burdened with taxes and fees, and that a lot of the policies pursued by Vietnam do not follow the common tendency in the world. High taxes annul development The report has pointed out that Vietnamese businesses now have to bear high tax rates,...