Last Updated: Saturday, May 25, 2013 04:20:00 Vietnam (GMT +07)
Environmental watchdog Global Witness has stood by its accusation of land-grabbing and environmental destruction in Cambodia and Laos against a Vietnamese private company, which had rejected the allegations.
Vietnamese inflation slowed to its weakest pace in eight months in May, official data showed on Friday, in the latest sign that the economy is cooling.
Vietnam will find it “difficult” to cut interest rates further this year, central bank Deputy Governor Nguyen Dong Tien said, as the nation moves to create an asset company that would clean up bad debt and revive growth.
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Vietnamese Prime Minister Nguyen Tan Dung has approved a regulation to set up a debt asset management company to address bad loans in the country’s banking system, central bank Deputy Governor Le Minh Hung said today.
The government’s latest measures cannot revive the property market since it is the high-end segment that has a massive inventory while the new policies relate to affordable housing, Pham Sy Liem, vice chairman of the Vietnam Construction Federation, tells Vietweek.

The government has always been keen to export labor since it meant providing jobs for more people, jobs that could not be generated at home, but a failure to properly manage the system is coming home to roost.

The government plans to cut corporate income tax to 22 percent from the current 25 percent next year to stimulate investment and production amid the ongoing economic downturn.
Vietnamese stocks advanced the most in Asia, with the benchmark index closing at the highest level in more than five weeks, after a drop in consumer prices in the two biggest cities signaled inflation may slow nationwide.
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