The carrier, which now flies through Bangkok, will fly three times a week between the two cities from November under a code-share agreement with Vietnam Airlines
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Air France to revive direct Paris-HCMC service
As an emerging economy, the regulatory landscape in Vietnam is dynamic, characterized by frequent changes in laws and regulations. Very often, the head office finance team is unsure whether the myriads of regulations in Vietnam are fully complied with, and is also troubled by the quality of financial and management reporting by their Vietnamese accountants.
The July 13, 2000, signing of the Bilateral Trade Agreement (BTA) between the USA and Vietnam was a significant milestone for Vietnam’s economy. The BTA provided for Normal Trade Relations (NTR) status of Vietnamese goods in the U.S. market. Access to the U.S. market is expected to allow Vietnam to hasten its transformation into a manufacturing-based, export-oriented economy. It would also concomitantly attract foreign investment to Vietnam, not only from the U.S., but also from Europe, Asia, and other regions.
In the first forecast, Vietnam would concentrate on growth in terms of quality. It would reduce the growth rate to focus on transforming the economy by restructuring production. The growth rate would be 6 to 6.5 percent. Under the second plan which has less focus on transformation of the economy, Vietnam would achieve a higher growth rate inn the short term of 7 percent. He believes that in 2010 the world economy and Vietnam’s have stepped into the first stages of recovery. As a result, import-export activities and foreign direct investment will not increase in the short term. To achieve high growth, Vietnam would have to increase investment and spending. The total investment would have to reach VND835 trillion (US$46 billion), accounting for 42 percent of GDP. The increase means the budget deficit would rise to 6.5 percent of GDP, he explained to Vietnam News. The plan has the danger that it could act to cause inflation. Under the plan, export turnover would be expected to reach $66.4 to 67.8 billion while import turnover, $77.5 to 80 billion and trade deficit, around $12 billion.
Education has always had a central role in Vietnam culture and society. It is seen as the avenue of advancement and families routinely sacrifice much to ensure their offspring get the required education. The government of Vietnam has for some time set the priority of education in terms of its budget. Currently, education occupies approximately 20% of all state budget expenditures and accounts for 5.5% of GDP (source: Department of Finance and Planning, MOET, 2008).
