A toxic cocktail … European debt crisis, U.S. economic stagnation, a very critical situation in VN

When: Thu, Sep 6th 2012 5:30 pm to 8:30 pm
Where: New World Saigon Hotel, Ho Chi Minh City
What: AmCham Members Networking Night with Dr. Le Dang Doanh

Le Dang Doanh, VN Institute of Development StudiesDr. Le Dang Doanh, a prominent economist and a former top official at a government research organization, was recently quoted in the NY Times: “The problem in Vietnam is a very, very toxic cocktail from the European debt crisis, the stagnation in the U.S. economy plus a very critical situation in the domestic economy,” Mr. Doanh said. “It’s a very dangerous mixture.”

Stabilization policies since February 2011 have slowed the roller coaster ride of credit growth, inflation, and the economy. Many AmCham companies seem to be doing well, but there seems to be a malaise in the Vietnamese economy, with SOE reform lagging, non-performing bank loans, land disputes and conflicts, and the Vietnamese local economy seems to be under stress.

With FDI plunging (down 67% in the first seven months of 2012), and continuing lack of productivity growth, some observers talk about Vietnam getting caught in the “middle-income trap.” Indonesia, Malaysia, Bangladesh, Myanmar seem more attractive investment destinations than Vietnam, according to news reports and a survey by A.T. Kearney Consultants.

Foreign Policy magazine announced “the end of the Vietnamese miracle”. And the New York Times even reported In Vietnam, Fears of an Economic Meltdown.

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After the unlearned lesson: Vinashin, VinaLines, and other SOEs’ inefficiencies, comes a dear price to pay: Nguyen Duc Kien, ACB and HCMC stock market. And the New York Times recently reported that In Vietnam, Message of Equality Is Challenged by Widening Wealth Gap (SOEs), which highlighted corruption/nepotism in State Owned Enterprises.

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Business Networking: “Regaining Macroeconomic Stability: Outlook 2011” – Dr. Le Dang Doanh

Dr. Le Dang Doanh Re-gaining Macroeconomic Stability: Outlook for Vietnam in 2011

WHEN: Thu, May 12, from 5:30pm – 8:30pm
WHERE: New World Hotel Saigon

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Event Background

Le Dang Doanh, VN Institute of Development StudiesDr. Le Dang Doanh, one of Vietnam’s leading economists, will provide an overview of Vietnam’s current economic outlook and discuss the Government’s macroeconomic policies.

The Government had a consultation meeting with Dr. Le Dang Doanh and other leading Vietnamese economists on Feb 22, and following that meeting announced that it would focus on macroeconomic stability rather than growth.

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Dr. Le Dang Doanh: “Re-gaining Macroeconomic Stability in Vietnam” May 12

When:Thu, May 12th 2011 5:30 pm to 8:30 pm
Where:New World Hotel Saigon, Ho Chi Minh City

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