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Samson: Market confidence to drive Vietnam economic growth in 2019
9th February, 2019
Loading cargoes at the Hoàng Diệu port in the northeastern city of Hải Phòng
Vũ Viết Ngoạn, head of the Prime Minister’s Economic Advisory Team, talks to Thời báo kinh tế Việt Nam (Việt Nam Economic Times) about how the country can maintain its strong growth in 2019 and the next few years with internal strengths.
The Government’s report said 2018 saw “comprehensive and positive achievements across all socio-economic aspects”. In your opinion, what was the highlight?
In 2018, the Vietnamese economy witnessed growth in all three sectors – agriculture, industry and service. Not only have we attained high GDP growth, we have also consolidated macroeconomic fundamentals and increased the quality of growth, with the increase in productivity and higher ratio of manufacturing industries in the GDP compared to 2017.
For me, there are two points that outshine others.
First is the impressive development of the private sector. In the 2011-15 period, the growth of the non-State economic sector’s investment reached merely 6.3 per cent a year. Since 2015, this sector has pushed up investment continually, with its growth in 2018 reaching upwards of 18 per cent – much higher than that of the State and foreign direct investment (FDI) sectors – bringing the proportion of the non-State sector to 43 per cent of the economy, eclipsing the once-dominant State sector that currently hovers around 33 per cent. If this strong growth is sustained, within five years it would make up more than half of the economy’s total capital. The trajectory, position and impetus of the private sector has manifested clearly in the economy.
Second, the resilience of the economy has been improved a great deal. Against 2018’s global stock market losses and multiple countries seeing their currencies dropping off, the Vietnamese đồng remains stable and foreign investment is still increasing, despite numerous external challenges.
Vũ Viết Ngoạn, head of the Prime Minister’s Economic Advisory Team Full post here LINK
Frank26: DANG !!! ............... (thumbs up)
OPPS .................... I MEANT TO SAY .................. DONG !!!
Popeye7: Do you believe that the Dong is going to increase in value the same time that the Iraqi dinar does, or in close proximity of it Frank?..
Frank26: IMO ............ LIKE GRENADES AND HORSESHOES................(wink)
Popeye7: I believe it is going to be close, if not right on target as well... Thank you Frank... They are definitely letting the world know of their progress within Vietnam... And then there is North Korea... Interesting that President Trump is touting this countries leader a few weeks before their summit... Saying their economy could take off if they are wise in what decisions are made... President Trump thinks the potential is definitely there...
Hoosiergirl: Soooo... is this basically saying they will come out TOGETHER - at the same time??? I understand there is no "close" and it has to be on target when throwing an hand grenade or tossing horseshoes - BUT I'm not quite sure how that applies to the Dong & Dinar. Just humor me and give me a straight answer!
Crose: Vietnam was the Marshall plan that fell short of completion...now they are tying up loose ends and leveling the world economic playing field...thank you President Trump...most old time dinar holders also hold dong...like the dinar, the dong will have a very nice ROI...and for now obvious reasons they would be wise to move both currencies at the same time or close to it to prevent the average Joe to get an upper hand because we will have the capital to invest in the dong and be able to make some really huge money. IMO
Trump Makes Move On [CB], Patriots In Control Of Economy - Episode 1787a
X22 Report : Published on Feb 10, 2019
Intel starts about minute 1:50
NWMontana: How Venezuela turns its useless bank notes into gold
EL CALLAO, Venezuela (Reuters) - Venezuela’s most successful financial operations in recent years have not taken place on Wall Street, but in primitive gold-mining camps in the nation’s southern reaches.
With the country’s economy in meltdown, an estimated 300,000 fortune hunters have descended on this mineral-rich jungle area to earn a living pulling gold-flecked earth from makeshift mines.
Their picks and shovels are helping to prop up the leftist government of President Nicolas Maduro. Since 2016, his administration has purchased 17 tonnes of the metal worth around $650 million from so-called artisan miners, according to the most recent data from the nation’s central bank.
Paid with the country’s near-worthless bank notes, these amateurs in turn supply the government with hard currency to purchase badly needed imports of food and hygiene products. This gold trade is a blip on international markets. Still, the United States is using sanctions and intimidation in an effort to stop Maduro from using his nation’s gold to stay afloat.
The Trump administration is pressuring the United Kingdom not to release $1.2 billion in gold reserves Venezuela has stored in the Bank of England. U.S. officials recently castigated an Abu Dhabi-based investment firm for its Venezuela gold purchases, and have warned other potential foreign buyers to back off.
The existence of Maduro’s gold program is well-known. How it functions is not.
To get a glimpse inside, Reuters tracked Venezuela’s gold from steamy jungle mines, through the central bank in the capital of Caracas to gold refineries and food exporters abroad, speaking with more than 30 people with knowledge of the trade. They included miners, intermediaries, merchants, academic researchers, diplomats and government officials. Almost all requested anonymity because they were not authorized to speak publicly, or because they feared retribution from Venezuelan or U.S. authorities.
What emerges is the portrait of a desperate experiment in laissez-faire industrial policy by Venezuela’s socialist leaders. U.S. sanctions have hammered the nation’s oil industry and crippled its ability to borrow. The formal mining sector has been decimated by nationalization. So Maduro has unleashed freelance prospectors to extract the nation’s mineral wealth with virtually no regulation or state investment.
The Bolivarian Revolution now leans heavily on ragtag laborers such as Jose Aular, a teenager who says he has contracted malaria five times at a wildcat mine near Venezuela’s border with Brazil. Aular works 12 hours daily lugging sacks of earth to a small mill that uses toxic mercury to extract flecks of precious metal. Mining accidents are common in these ramshackle operations, workers said. So are shootings and robberies.
“The government knows what happens in these mines and it benefits from it,” said Aular, 18. “Our gold goes into their hands.”
Read Full Post Here:
Confirmation, Countdown Begins, T-Minus, Optics Are Important - Episode 1787b
X22 Report : Published on Feb 10, 2019
Intel starts about minute 1:20
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