Vietnam’s economic growth rate in 2012 is forecast at 5.2 percent. It is the second adjustment from the previous projections of 5.5 percent and 6.5 percent, and is due to a slowing down of the country’s economic performance in the first 10 months of 2012.
Nguyen Thi Tue Anh, head of the Competition Capacity and Business Environment Department of the Central Institute of Economy Management, made the judgment at a forum held in Hanoi last week. (more…)
Announced that the national investment, on Tuesday, it seeks to amend the last to the Investment Law No. 13 of 2006 which was amended paragraphs in 2009, pointing to the existence of things, mainly in the First Amendment did not apply on the ground, while confirming that it is studying the failures encountered in the process investment with the bodies of the provinces in order to be exceeded in the new amendment. (more…)
VietFinanceNews.com – Fitch Ratings has affirmed Vietnam’s Foreign- and Local-Currency Issuer Default Ratings at ‘B+’. The Outlook for both Ratings is Stable. The Country Ceiling is also affirmed at ‘B+’, and the Short-Term Foreign Currency IDR at ‘B’. (more…)
VietFinanceNews.com – Vietnam is forecast to have GDP growth rate of 5.7% in 2012, compared to the government’s target of 6.0-6.5%, HSBC Global Economics Research Team wrote in its Macro Asian Economics Q1/2012.
HSBC Global Research said:
Despite sluggish global growth and challenging domestic conditions, Vietnam’s growth momentum has been impressive. GDP expanded 6.1% y-o-y in 3Q 11 (versus 5.7% in 2Q 11) thanks to robust exports and domestic demand. We expect GDP growth of 5.8% in 2011 and 5.7% in 2012 (the government’s target is 6.0-6.5% for 2012). (more…)
VietFinanceNews.com – Vietnam’s dong advanced to its strongest level in a month after the central bank said inflation would slow. Government bonds were steady.
Consumer prices will rise less than 12 percent at worst and about 8.5 percent in a “good” scenario, central bank Governor Nguyen Van Binh said on Jan. 12. Inflation in the $104 billion economy was 18.1 percent in December. The dong will depreciate 2 percent to 3 percent this year, Binh said. That would be the least since 2007, according to data compiled by Bloomberg. (more…)
On: Sun 25/12/2011 11:19
Baghdad (news) .. The member of the Baghdad Provincial Council Mohammed al-Rubaie to deal with known investors on a global level, calling for dealing with foreign investors, the fact that the absence of foreign investors one of the most important aspects to disable the investment process in the country.
Rubaie said (of the Agency news) on Sunday: there is a problem orientation the investment process in the country, the most important land and red tape, as well as the presence of some investors are not qualified to lead the implementation of investment projects. (more…)
Baghdad (news) .. The economist said Bassem Jamil of the priorities of attracting investors to Iraq by providing a safe environment and activate the appropriate laws of investment, calling for transparency in the deal by the government departments with investors.
Jameel said in a statement to the Agency (news) Tuesday: From the main priorities for attracting investment companies and high net-worth to Iraq for the purpose of investing their money is to provide a safe environment and enacting laws that help the process of investment, as well as to spread education and awareness to citizens via the media and seminars.
and stressed the beautiful: the need to develop facilities and transparency by government departments in their dealings with investors and the elimination of bureaucracy and red tape killer in reviews and the creation of the infrastructure of sound that helps to attract investors to Iraq.
On: Wed, 10/19/2011 15:29
Baghdad (news) .. The Deputy Prime Minister for Economic Affairs Rose Nuri Shaways that the Iraqi government proposes to amend all laws and regulations of the laws of investment, stressing the need for infrastructure investment.
and Shaways said in a statement singled out by the Agency (news) on Wednesday: that The Iraqi government is now heading to re-examine all instructions of contracts and investment projects in all parts of the country, adding that the country needs to invest a swift and dramatic addition to modify the details of the investment might be another reason in the development and success of investment in Iraq.
promised to the national investment, Sunday, the investment activity of the Iraqi funds abroad, “a betrayal of the country’s economy,” asserting that Arab states do not have any investment activity in Iraq and seeks only to conclude contracts that make a profit to them.
A spokesman for the national investment Faili Thaer’s “Twilight News”, “The investment activity carried out by some of the owners of capital from Iraqis abroad is a betrayal of the national economy.”
He explained that “the investment stands counter to any investment activity abroad in Iraq,” calling for “all Iraqi investors to invest in their own country, which suffers from considerable backwardness in economic activity.”
Decrease the flow of investments in Arab countries and rising in Iraq
A report published by Arab financial windstorm that the flow of foreign direct investments to the Arab states will fall by 17% this year and will decline more sharply in the countries of “Arab spring”.
The report confirmed the Arab Association for Investment and Export Credit, based in Kuwait that foreign direct investment in 21 Arab countries will fall to 55.1 billion dollars in 2011 from 66.2 billion dollars in 2010.
13/09/2011 17:08
Baghdad, September 13 (Rn) – The staff at the Ministry of Industry and Minerals said Tuesday that the president visited the cause of flooding the market with foreign goods.
And displays many of the factories of the theft of Iraq after the fall of the former Iraqi regime in 2003, and some factories has become outdated and in need of rehabilitation.
And led the small number of factories in the decline of the domestic product and foreign goods flooding the market, which led in turn to increase the rate of inflation in the country.
Growing stability in Iraq has inspired a burst of foreign investment, though eight years after the U.S. invasion — you know, the one the Bush administration launched to exploit Iraq’s oil and other resources — the United States remains a bit player, even trailing France. No irony there.
USA Today reported last week that foreign investment in Iraq is on track to double in 2011. The paper cited a report by Dunia Frontier Consultants that said Iraq attracted $45.6 billion in foreign investment in the first half of the year — about $3 billion more than all of 2010.
And at a recent World Bank forum, business leaders agreed that Iraq, having reached a level of political stability, is poised to emerge a business leader in the region. One expert called Iraq “the most exciting investment opportunity in the Middle East right now.”
Read More: http://www.bostonherald.com/news/opinion/editorials/view/2011_0724iraq_investment_beckons/
A report prepared by a group of “minimum” international consultancy to enable Iraq to attract about $ 45.6 billion in foreign investment.
The report said that foreign investment is recovering in Iraq as fueled by growing confidence in the stability of the country, noting that the number of transactions of foreign investment on the way to double this year. P in the first half of this year, enabling Iraq to attract about $ 45.6 billion in foreign investment, and about $ 3 billion in the other half of the year.
18/04/2011 10:42
The National Investment Strategy is to establish investment zones in Iraq and encourage foreign investment which
Announced the National Investment Commission said it was preparing a strategy for the establishment of investment zones in the country. The source explained that this comes within the framework of the whole endeavor to encourage and enable private foreign investment in Iraq and in order to overcome some obstacles that accompanied the implementation of investment projects, adding that the authority has taken in this direction, concrete steps in cooperation with the Organization of Economic Cooperation.
He explained that the Commission is currently preparing the final version of the system investment zones in Iraq through a central committee headed by the concerned authorities.
Dunia Frontier Consultants have issued a new report entitled Foreign Commercial Activity in Iraq – 2010 Year in Review.
According to their research, the total number of reported investments, service contracts, and other commercial activities by foreign firms more than doubled in 2010.
The Ministry of Trade plan aimed at revitalization of the central market, taking into account the situation that emerged during the past years, especially the conditions of economic openness and the free market.
She explained, Undersecretary of the Ministry of Commerce Soibp Zangana said the plan is based on the two axes of import and foreign investment to find a balance in the market and foreign investment-saving public money. Confirmed Zangana that the goods imported by the Ministry envisages the quality and origin sober because they are not hand-profit organization, referring to dealing with countries ranging from Iran and Saudi Arabia to Sweden and the United States. With regard to the aspect of investment stressed, Undersecretary of the Ministry of Commerce to build shopping malls or large “malls” as in the case of market-Mansur in Baghdad, which phase into Emirates company to the mall after it won the contract in competition with 11 companies. She drew Zangana commitment to the ministry of purpose that established markets of Central was originally built.
Chief Executive of the Iraqi Stock Exchange, said on Sunday that it is expected to attract Iraq foreign investment this year more than it sold in the Stock Exchange of Iraq in 2010 shares worth up to $ 53 million.
Read more: http://bit.ly/dVmrUU
Regulations restricting remittances of profit overseas are of considerable concern to foreign investors. Which makes it surprising that no new regulations have been issued to govern this topic since the approval of the Law on Investment back in 2005 – leading to a situation of “new law, old guidance”.
Until now, the Ministry of Finance issued Circular No 186/2010/TT-BTC on November 18 providing guidelines on remittance of profit overseas by foreign organisations and individuals deriving profit from direct investment in Viet Nam. It finally replaces Circular No. 124/2004/TT-BTC issued under the old Law on Foreign Investment back in 2004.
VietFinanceNews.com – Financial experts warned foreign indirect investments (FII) were getting weaker since 2008 because of the global recession, and offered solutions to boost the flow.
Economist Tran Hoang Ngan said it was necessary to set up different taxes on FII in an attempt to prevent foreigners from using the investments for speculating.
“Foreign investors pouring money into Vietnam for small-time profits should have to pay higher taxes than long-term investors. This will help us find out good and stable FII,” Ngan recommended.
