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 costing more than US$54,761. The compa

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lynk2510
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Join date : 2011-01-31

PostSubject: costing more than US$54,761. The compa   Fri Apr 08, 2011 1:11 am

ut we have to keep trying to implement the government's [tightening] measures," Nguyen Tien Thoa, head of the Finance Ministry's price-management department, said in a statement published in the central bank's Thoi Bao Ngan Hang newspaper. Mr. Thoa said the key reasons behind the rising inflation include the economy's large total outstanding loans, which exceed gross domestic product by 20%, and the inefficient use of investment capital. "It will take at least a couple of months before we can see if the measures really work," Mr. Thoa said.

For this year the government is aiming for GDP growth of between 7% and 7.5% and inflation of no more than 7%. It admitted last week that realizing these targets now appears challenging, but hasn't decided yet to adjust them. HSBC economist Sherman Chan said Vietnam's inflation rate is unlikely to show signs of easing until at least the third quarter because of surging global food and oil prices. She projects two one-percentage-point interest-rate increases in the second quarter to help slow inflation to the single digits by the fourth quarter. "Meeting the official annual inflation target of 7% appears increasingly challenging...in light of surging global prices, we can only count on the monetary and fiscal tightening measures to curtail consumption and subsequently contain demand-driven inflationary pressures," she said.

Meanwhile, Mr. Bien said the shutdown of the Dung Quat Refinery won't have any adverse impact on Vietnam's trade deficit, adding that it had been planned. The government said earlier this week it shut the 130,000-barrel-a-day refinery Wednesday for two or three weeks for overall checking. Mr. Bien said Vietnam will continue measures to boost exports, aiming to keep the trade deficit below 18% of total export revenue for the full year. "Things are on track, and I think that we will be able to meet this target," he added.



Luxury Imports Continue To Flood Vietnam's Market

Bernama 21 March 2011



The luxury goods such as high-priced cars and motorbikes, cosmetics, mobile phones and alcoholic beverages continue to flood into Vietnam's market despite a package of measures unveiled by the government last month, to reduce the trade deficit. According to Tuoi Tre (Youth) newspaper on Monday, the Vietnam news agency reported that the imports has risen sharply at southern ports in recent times, with the first two months, it recorded 24.8 percent to 7.4 percent (US$1.1 billion) percent of total imports. The daily said that consumers have changed their trends, as many of them now prefer to purchase expensive models instead of the low-end ones.

The Sai Gon Port customs said imports of consumers goods through the port had amounted to US$577.4 million in the first two months, 29.5 percent up from the same period last year. Customs office at Sai Gon Port said the cosmetics imports have increased sharply in the last few months. At Cat Lai Port, cosmetics worth US$3.42 million had been imported by March 10, a year-on-year increase of 54.8 percent. Products such as cosmetics imported from the United States, Japan, Malaysia and South Korea and sold at Ho Chi Minh City shopping malls like Vincom, Parkson, Diamond Plaza and Zen Plaza have become very popular. A local cosmetic company shows that it has imported seven containers of shower gells and shampoos every month for US$660,000. The newspaper said that the import of upscale mobile phones is also on the rise, as some 266,000 handphones worth nearly US$7 million imported. This is a 200 percent increase in volume and a 117.4 percent rise in turnover.

According to the National Statistics Bureau, in January and February this year, some 10,600 automobiles were imported at a cost of US$179 million. They include top-of-the-range brands such as Maybach, BMW, Lexus, Bentley, Porsche, and Ferrari. Euro Auto, a company that specialises in BMW cars, said the company had sold more than 150 cars this year, with the cheapest being a BMW X1 costing more than US$54,761. The compa
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mrk3nx
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PostSubject: Re: costing more than US$54,761. The compa   Thu Jun 23, 2011 2:31 am

ut we have to keep trying to implement the government's [tightening] measures," Nguyen Tien Thoa, head of the Finance Ministry's price-management department, said in a statement published in the central bank's Thoi Bao Ngan Hang newspaper. Mr. Thoa said the key reasons behind the rising inflation include the economy's large total outstanding loans, which exceed gross domestic product by 20%, and the inefficient use of investment capital. "It will take at least a couple of months before we can see if the measures really work," Mr. Thoa said.


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