Thread: Latest news on the Dong!

When is the Dong going to boost (RV) is The Question. Anyone?

If you cant beat them join them! Is there property over there for sale and if so cawe purchase it at there Dong price?
Anyone have any input!
HD

Statement by IMF Deputy Managing Director Takatoshi Kato at the Conclusion of a Visit to Vietnam
Press Release No. 07/108
May 24, 2007
Mr. Takatoshi Kato, Deputy Managing Director of the International Monetary Fund (IMF), made the following statement today in Hanoi:

"I am very happy to be back in Vietnam and see so much progress since my last visit two years ago. The size of the economy has grown impressively from $45 billion in 2004 to more than $60 billion last year; global integration has accelerated, with annual exports now reaching $40 billion and FDI commitments surging to $10 billion; and Vietnam has continued to make great strides in reducing poverty and meeting its other socio-economic objectives.

"Although Vietnam entered the global economy later than most of its Southeast Asian neighbors, its impressive progress to date gives me optimism about the future. This year's accession to the WTO clearly signals Vietnam's commitment to completing its transformation into a market-based economy and further deepening its international economic integration. The strong contribution of FDI to sustained export-led growth, and the large inflows into the emerging capital market, already show the considerable benefits that can be reaped by such integration.

"However, there are also challenges that will require determined and, at times, complex policy responses. Implementing monetary and exchange rate policies in the presence of growing capital flows, managing fiscal policy when aggregate demand pressures are building up while prices are increasingly liberalized, and ensuring debt sustainability when investment needs are large are some of the immediate challenges. Moving on to the next stage of reforms in the critical state-owned commercial bank and state-owned enterprise sectors is also likely to prove challenging.

"Prime Minister Nguyen Tan Dung at our meeting yesterday reaffirmed the Government's commitment to push forward with its reform agenda. The leadership his government has shown since it took office last year, the positive investment climate generated by continued reforms, and Vietnam's resourceful and agile labor force bode well for its continued success as it endeavors to lift itself from the ranks of low-income countries. We congratulate the government on its accomplishments to date, and stand ready, along with other development partners, to support the achievement of its objectives by continuing to offer our policy advice, training, and technical assistance in areas under our mandate."

Press Release: Statement by IMF Deputy Managing Director Takatoshi Kato at the Conclusion of a Visit to Vietnam

This is what we're waiting for. (highlighted part)

Originally Posted by Maddawg

When is the Dong going to boost (RV) is The Question. Anyone?

http://www.rolclub.com/vietnamese-do...tml#post204249

Originally Posted by neno

http://www.rolclub.com/vietnamese-do...tml#post204249

Sounds like The Answer to me!

IMF’s Kato says Vietnam’s future bright
Takatoshi Kato (C)By THANH TRUNG
(SGT-HANOI) International Monetary Fund (IMF) deputy managing director Takatoshi Kato yesterday expressed his confidence in a bright future for Vietnam, saying the economy is developing fast despite substantial challenges ahead.
“The country has a bright future and its economy is opening up in terms of trade and investment,” Kato said at a press conference in Hanoi yesterday.
In order to continue to preserve a good investment environment, “I think authorities need to be aware of sustainable development, and this is the advice IMF is providing to all of its member countries,” he said.
Kato, who arrived in Hanoi yesterday for a visit, said that “Vietnam is a very successful economy that has been growing very fast for the last few years.”
Fundamentals of Vietnam’s economy are strong, he continued, saying there was a basis for expecting the continuation of good growth in the future.
However, the country now has to face a lot of challenges coming from its own success of economic growth as well as from its entry into the World Trade Organization. He therefore stressed good governance as key to overcome challenges.
“Certainly the strengthening of the foundation of Vietnam’s economic development is very important. From that point of view, I think investment and corporate law and relevant regulations contribute to governance improvement in the economic sector,” he said in answering a question by the Daily.
The fund leader also hailed Vietnam’s efforts in fighting corruption.
“I think that the determination Vietnamese authorities pursue to combat corruption is very encouraging. We welcome that determination of Vietnam,” he said.
Lazaros Molho, a senior official of the IMF, said that on the macro-economic side, Vietnam faces the challenge of inflation and there is a need to control inflation to make sure that growth is sustainable.
“The opening to overseas capital flow is more difficult for monitoring policies to work as effectively as it was in the past, so the challenge of macroeconomic stabilization for the Vietnamese Government becomes more complex,” he said, adding the fiscal policy needed to be strengthened to make sure that inflation was contained.
Kato and his delegation will have meetings with Prime Minister Nguyen Tan Dung and other high-level officials today before wrapping up the visit.

Saturday, May 26, 2007 11:12:17 Vietnam (GMT+07)
Mekong Capital invests $4.5 mln in Vietnam cell phone retailer

Vietnam-focused fund manager Mekong Capital announced Friday plans to invest US$4.5 million in a leading mobile phone retailer through its private-equity Mekong Enterprise Fund II.

The Ho Chi Minh City-based Mobile World Joint Stock Company will work out a business strategy with focus on expanding distribution and aftersales services.

For the $50 million Mekong Enterprise Fund II, which was launched in June 2006, it will be the third investment in Vietnam.
Mekong Capital attributed the investment decision to Mobile World’s strategic development plans as well the potential of the country’s cell phone market.
Established in 2004 by a group of Vietnamese businessmen, Mobile World has eight outlets including cell phone, laptop and other services in the southern metro and a 20 percent market share.
Its website, Mua bán rao vặt đtdđ,SIM dtdd,phụ kiện điện thoại di động,sua chua dien thoai di dong, is among the most popular sites in Vietnam, ranking 20th on Alexa with almost 500,000 hits per day.
Mekong Capital, established in 2001, manages two private-equity funds, the Mekong Enterprise Fund and the Mekong Enterprise Fund II.
The private equity funds focus on investing in unlisted private Vietnamese companies in manufacturing, branding and distribution, consulting those for successful listings and seeking potential investors.
The $18.5 million Mekong Enterprise Fund’s investment portfolio includes 10 private firms operating in IT, design, furniture, home appliances, and gas.
The Mekong Enterprise Fund II has a similar focus with a typical investment size of $3-5 million.
The Mekong Capital is also launching a $100 million fund to invest in state-run companies being converted into shareholder-owned concerns.
The Vietnam Azalea Fund differs from the existing two private-equity funds, which focus primarily on private companies which were never under state ownership.
It is expected to close by the end of this month.
The fund, with an operational period of 10 to 15 years, will invest in firms that are set to list with the keen interest in those in the primary stages of going public, according to its website.
It says the new fund’s strategy aims at companies around one to two years prior to listing.
The near-term target of the fund will be the forthcoming initial public offerings by giant state-run corporations like the bank for Foreign Trade of Vietnam (Vietcombank), Bank for Investment and Development of Vietnam (BIDV), Saigon Beverage Corp. and Hanoi Beverage Corp set in the last two quarter of the year.
Source: PR – Compiled by Dong Ha

Foreign investors driving stock market recovery

20:15' 26/05/2007 (GMT+7)

VietNamNet Bridge – Foreign investors have proved to be a key reason for the recent recovery of Vietnam’s stock markets after they went through a slump in March, market analysts said.

“Recently, daily transaction values by foreign investors have accounted for on average 30 percent of all trades which enabled the VN-Index in particular to breach the 1,100 point mark on May 22,” said Nguyen Tri Trung, Brokerage Director of the Rong Viet Securities Company.
Foreign investment funds in particular are still seemingly bullish on the Vietnamese markets with larger funds such as VinaCapital and Dragon Capital announcing plans to pump more into the country's two bourses.
To date, Initial Public Offerings (IPO) of blue chip companies are proving to be the most attractive buy for foreign brokerages such as the heavily anticipated listing of leading insurance firm Bao Viet.
Coinciding with increased stock purchases from foreign investment funds, a sharp rise in the number of accounts opened by foreign individual investors have been also reported at securities companies.
Statistics released by the Ho Chi Minh City Securities Trading Centre showed that nearly 5,000 foreign accounts have been opened at its member securities companies. Most account holders were Japanese nationals, followed by the investors from the Republic of Korea, Taiwan and Singapore.
Nguyen Hong Nam, Deputy General Director of the Sai Gon Securities Company, said Japanese investors make up 70 percent of total accounts at his company.
(Source: VNA)

Crude oil lubricates export revenue growth

20:10' 26/05/2007 (GMT+7)

VietNamNet Bridge – Crude oil exports raked in over 3 billion USD during the first five months of the year, recording the largest single industry export revenues in the country, according to the General Statistics Office.

In total Vietnam earned over 18 billion USD in export turnover, a year-on-year increase of 18.4 percent with high values coming in from garments and textiles, 2.7 billion USD, and footwear, seafood and coffee, that all accounted for over 1 billion USD each.
Highflying exports of wood products surged to 947 million USD and computer and electronic components also spiked at 744 million USD. Pundits forecast both of these industries to earn over 1 billion USD in the next few months.
Rice at 610 million USD and rubber, 415 million USD, rounded out the top earners.
Import value for the first five months of the year also increased by 27 percent on the back of a red-hot economy and increased consumer demand leading to a trade deficit of 3.3 billion USD.
(Source: VNA)

Vietnam determined to become attractive investment destination

18:41' 26/05/2007 (GMT+7)

VietNamNet Bridge – President Nguyen Minh Triet on May 25 reiterated Vietnam's resolve to become an "attractive investment destination" and affirmed leaders at all levels are committed to removing all investment stumbling blocks.
The President made the comments while receiving the President of Japan's Nidec Corporation, Shigenobu Nagamori, in Hanoi, on May 25.
"Vietnam still lacks capital and management expertise and we need foreign investors to lend a helping hand," President Triet said.
The Nidec boss highlighted Vietnam 's improvements in administrative reforms and said the country is the second largest recipient of the electronic component maker's investment in Asia.
To date, Nidec has pumped more than 156 million USD into four projects in the Ho Chi Minh Hi-tech Park and the Tan Thuan Export Processing Zone.
Nidec is also planning to build a factory in Hanoi to supply accessories for its customers that are operating in Vietnam, such as Canon.
(Source: VNA)