Socialist Republic of Vietnam

Vietnam News
- (10/10/2003)

The Government has drawn up a schedule to partially divest its stakes in insurance companies, except the Viet Nam Insurance Corporation, by 2010.

Under a Strategy for Development of the Insurance Market it announced last month, the Government will develop the giant corporation (Bao Viet) into a financial group straddling the insurance, securities and investment sectors.

Ha Noi — Viet Nam’s GDP almost hit the Government’s growth target of 7.5 per cent this year, despite war in Iraq and the SARS outbreak.

The Asian Development Bank’s Outlook 2003 Update, released on Tuesday, stated the country’s gross domestic product grew by 6.9 per cent in the first half of this year, the highest in Southeast Asia.

Strong domestic demand, moderately expansionist monetary and fiscal policies and prudent economic management prompted the growth.

The report projected Viet Nam’s 2003-04 GDP to be about 7 per cent.

HA NOI — Many businesswomen in Viet Nam have top positions in trade and production companies, thanks to government support, says Ha Thi Khiet, president of the Viet Nam Women’s Union.

Some 30 per cent of leadership positions in 90,000 enterprises are held by women, she said.

Industries such as garment and textiles, footwear, food and drink processing and hotel services employ a large percentage of women, said Khiet, who spoke in Ha Noi on Wednesday at a meeting of 179 of the country’s most talented businesswomen.

HA NOI — More than VND4,632 billion (US$299 million) has been spent on infrastructure projects in remote poor regions over the past four years in a bid to improve the living conditions of residents.

The investment is part of a national programme to eliminate hunger and ease poverty, focusing on disadvantaged areas such as remote mountain regions and off-shore islands, says a report released by the Government Office. The State budget has contributed VND4,100 billion, while local and international donations have accounted for the remainder.