Gains at risk

Article Abstract:

Several economic trends may impede further progress in the Communist Party's economic liberalization policy in Vietnam even though some indicators, such as a forecast of gross domestic product, are favorable. One harmful trend is the mass smuggling of Chinese consumer goods such as bicycles into China and the consequent demise of the corresponding domestic industries. In addition, rising government budget deficits may fire up inflation. Fortunately, foreign aid may soon be available to help rebuild Vietnam's infrastructure.

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Bumpy recovery

Article Abstract:

The Vietnam economy has made a strong recovery from its 1991 recession. The government's positive achievements of re-strengthening the dong, controlling inflation and attaining a foreign-trade surplus for the first time have however, been somewhat negated by massive losses to exporters and grain surpluses. Economists fear that further strengthening of the dong may have a disastrous effect on the economy. Moreover, even if the economy continues to improve it may not achieve the projected 6.4% growth in GDP.

Recessions

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The socialist millionaire: Vietnamese landowner reconciles wealth, communism

Article Abstract:

Le Minh Ngoc, Communist Party member and agribusiness tycoon, may be Vietnam's first millionaire since the communist victory in 1975. Ngoc cultivates 640 hectares of land despite a law limiting land ownership to 3 hectares per person. Ngoc acquired his land from the government in exchange for promises to make it economically productive, which he has done through farming. The biggest landowner in the country, Ngoc has business savvy and connections that go to the top ranks of the Communist Party.

Management, Agricultural industry, Biography, Ngoc, Le Minh

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