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Vietnam’s Economic Outlook (Update), Oct 3, 2012 (ADB)

In its Asian Development Outlook 2012 (ADO), launched on October 3, the Asian Development Bank (ADB) lowered Vietnam’s growth forecast to 5.1 percent for 2012 and 5.7 percent for 2013, in light of the weakness in external markets and domestic credit. Inflation is projected at about 7 percent by end of 2012.

That would put the year-average rate at 9.1 percent, lower than previously projected because of sharp decline in food prices and weaker-than-anticipated domestic demand. By the end of 2013, inflation is forecast to quicken to 9.4 percent because of increases in global food prices and pickup in domestic demand, while fiscal policy is likely to be relaxed.

The pace of economic growth will likely be influenced by progress in addressing financial sector vulnerabilities. Cycles of rapid credit expansion followed by policy tightening and downturns in economic growth, together with property weakening, have put the banking sector under increasing stress, ADB said.

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WB calls for prudence in economy driving, reform of SOEs

HANOI, May 24, 2012. The World Bank (WB) has just warned that Vietnam should prudently weigh the two goals of stabilizing the macro-economy and stimulating the economic growth on the verge of downturn.

Victoria Kwakwa, WB country director for Vietnam, said that the economy has no choice but to either grow or remain stable. The country leaders must balance these two objectives and this is a challenge for Vietnam.

“Previously, we said economic stability is the main target, and now economic stability needs greater focus,” she said.

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World Bank Update on Vietnam’s Economic Development, Dec 6, 2011

Prospects for the global economy have become less certain in the second half of 2011, with significant increase in downside risks. Developing countries in East Asia are growing faster than developed countries, but they too are facing challenges due to a combination of reasons including: slower expansion in demand in developed countries; the impact of global uncertainty on investor sentiments; natural disasters; and the withdrawal of stimulus policies.

Vietnam’s growth slowed in 2011 compared to 2010, though it is still expected to reach around 5.8 percent. The external sector has remained relatively stable. The current account deficit declined in 2011, as export performance outpaced imports and remittances grew robustly. Both import and export values saw a dramatic rise, mostly because of higher commodities prices.

External debt remains sustainable, as the current account deficit was more than covered through medium-term capital inflows that are largely non debt-creating (foreign direct investments) or contracted on concessional terms (official development aid). Foreign direct investment inflows continued at a steady pace, although new commitments declined.

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Weekly Update Jan 9: Emotion Control, Winter Weekend

Highlights

Membership Directory 2012: Listings and Announcements
Tu, Jan 10 Emotion Control: Secret of a Joyful and Successful Life
Mo, Jan 16 M.L.King, Jr. Day (U.S. Holiday)
Mo-Th, Jan 23-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Save the Date
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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Weekly Update Jan 2: Happy New Year 2012! Emotion Control, Winter Weekend

Highlights

Membership Directory 2012: Listings and Announcements
Tu, Jan 10 Breakfast Briefing: Emotion Control – the Secret of a Joyful and Successful Life
Mo, Jan 16 M.L.King, Jr. Day
Mo-Th, Jan 22-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Register Now
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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Weekly Update Dec 26: Membership Directory 2012; Happy New Year 2012!

Highlights

Sa, Dec 31 Deadline – Membership Directory 2012: Listings and Announcements
Mo, Jan 16 M.L.King, Jr. Day
Mo-Th, Jan 22-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Register Now
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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Weekly Update Dec 19: Membership Directory 2012; Season’s Greetings

Highlights

Sa, Dec 31 Deadline – Membership Directory 2012: Listings and Announcements
Su, Dec 25 Christmas Day
Mo, Jan 16 M.L.King, Jr. Day
Mo-Th, Jan 22-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Save the Date
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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Weekly Update Dec 12: Membership Directory 2012; Compensation, Annual General Meeting


Highlights

AmCham Membership Directory 2012: Company Listings and Announcements
Su, Dec 25 Christmas Day
Mo, Jan 16 M.L.King, Jr. Day
Mo-Th, Jan 22-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Save the Date
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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Weekly Update Dec 5: Membership Directory 2012; Governors Ball, Compensation, Annual General Meeting


Highlights

AmCham Membership Directory 2012: Company Listings and Announcements
Sa, Dec 10 16th Annual Governors’ Ball – “A Hawaiian Christmas”
Tu, Dec 13 Members Lunch: Compensation and Competitive Business Strategy in a High Inflation Environment
We, Dec 14 Annual General Meeting
Su, Dec 25 Christmas Day
Mo-Th, Jan 22-26 TET Lunar New Year (observed)
Fr-Su, Feb 24-26 Winter Weekend: Register Now
World Bank Economic Update: Vietnam, Nov 2011
World Bank: Vietnam Key Indicators, Nov 2011 (East Asia & Pacific Update)

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