Mr. Dang Thanh Tam, Chairman of Saigon Invest Group (SGI), delivered a speech on Vietnam's economy at the "Future of Asia" conference in Tokyo, Japan, hosted by the prestigious Nikkei magazine. The conference was attended by leading national leaders, leaders and economists. This is the first time a Vietnamese entrepreneur has been invited to be a speaker at "Future of Asia".According to Dang Thanh Tam, Vietnam's economy in 2011-2012 is going through a deep restructuring phase to transform the growth model. Over the past 10 years (2000-2011), the economy has grown rapidly with a GDP growth rate of more than 7% per annum based mainly on increased money supply, private borrowing, public investment, and open revenue. attract foreign investment.At the meeting, Mr. Tam emphasized that the Government of Vietnam has started the process of restructuring the economy strongly, to transform the growth model, focusing on three main areas: 

Firstly, restructure public investment and stabilize monetary policy to reduce the increase in money supply and lower the budget deficit, increase the efficiency of public investment.

Secondly, corporate restructuring focused on the restructuring of corporations and state-owned economic groups through increased transparency, tight control of finance, investment, and accelerated implementation. IPO, listing these businesses.

Thirdly, to restructure the financial system that focuses on the banking system. The focus will be on reducing the number of banks, dealing with weak banks, dealing with bad debts in the whole system, ensuring liquidity and gradually improving financial indicators in line with Basel II standards.

Vietnam's economy in the first months of 2012 has seen positive changes, manifested in CPI has decreased from the middle of 2011, especially in recent months. CPI in 5 months 2012 increased only 2.78% much lower than the same period last year. Interest rates have been gradually reduced, the exchange rate has stabilized and the balance of payments has been improved. Exports increased, trade deficit fell sharply. Total export turnover in the first 4 months was estimated at over USD 33.4 billion, increasing by 22.1%; Import turnover was estimated at USD 33.6 billion, increasing by 4.4%; trade deficit of $ 176 million. Industrial production tends to increase, industrial production index (IIP) in the first four months increased 4.3% over the same period in 2011.Forecasted for 2012, GDP will grow 5.5% while inflation will be 8.5% compared to 18% in 2011. In 2013, the economy will enter the growth phase in quality, with trade balance balanced, and GDP increased by 6.3% while inflation continued to decline.

Mới đây, ngày 23/5 World Bank dự báo, tăng trưởng GDP năm 2012 của Việt Nam là 5,7%, giảm so với mức 5,9% năm 2011, tuy nhiên, sẽ tăng trưởng 6,3% trong năm 2013. Lạm phát năm 2012 giảm xuống dưới 10%.

Recently, the World Bank forecasts that Vietnam's GDP growth in 2012 will be 5.7%, down from 5.9% in 2011, but it will grow at 6.3% in 2013. Inflation falls below 10% in 2012.

Basic indicators of Vietnam

The 2012 budget deficit is projected to increase to 6% of GDP, compared to an estimated 6.5% in 2011.At the Symposium Mr. Tam also reported on the results that SGI has achieved over the years, thanks to open government policies, so far SGI has become the leading private economic group consisting of 60 members with total Estimated value is about US $ 4 billion, attracting 7% of total FDI into Vietnam, human resources up to 6,000.SGI owns and manages 20 industrial parks nationwide, and is trusted by Japanese investors such as Cannon, Sanyo, Nippon Steel ...SGI is also focusing on promoting mobile telecommunications, mining and processing and energy.

Gia Han (TTVN)