The theme of this VDR is market economy for a middle-income Vietnam. The report focuses on weak institutions, distorted incentives and inadequate information - labled as the three "I's" of the market economy - as the explanation for Vietnam's current tribulations.
VietNamNet Bridge – The majority of American billionaires are the “big cheeses” in technologies such as Bill Gates or Mark Zuckerberg. Meanwhile, in Vietnam, the richest people are the ones who have enriched by exploiting the natural resources. The first and the second positions in the 2011 list of 100 richest stock millionaires have belonged to Pham Nhat Vuong and Doan Nguyen Duc.
The real estate market will only recover when loan interest rates decline, a seminar heard in HCM City on Feb. 25. Speaking at an event hosted by Vietstock Communications, Dr Le Xuan Nghia, vice chairman of the National Financial Supervision Committee, said though the Government's efforts to curb inflation have yielded results, banks' interest rates have not dropped significantly. Prof Dr Dang Hung Vo, a former deputy minister of natural resources and environment, said the real estate market will continue to face a shortage of capital this year.
Vietnam hopes to attract more small and medium-sized enterprises from Japan to invest in the country, especially after Japan has set a strategy for overseas investment due to the aftermath of natural disasters and economic recession. This was highlighted by Director Do Nhat Hoang of the Foreign Investment Agency at a seminar on attracting Japanese firms into local industrial parks held by the Ministry of Planning and Investment in Hanoi on Monday.
