Viet Nam Human Rights
»
home
»
Vietnam needs a comprehensive approach to public debt (Part 2 and end)
Vietnam needs a comprehensive approach to public debt (Part 2 and end)
20/7/15
At the formal meeting with the
delegation of Finance and Budget Committee of Parliament Vietnam at the Greek
Ministry of Finance, Mr. Osman Yarasli, Deputy Minister of Finance said:
Greece's public debt accrual within 15 years based on private consumption loans
as liquidity of the global financial market at high level and they were
affected by the global financial crisis in 2008, private debt converted into
government debt as a series of nations required liquidity to private banks.
Then the budget deficit at a high level for many years because of government’s
spending in social welfare plus the weaknesses in tax administration related to
corruption. The GDP fell rapidly from 300 billion in 2006 before the crisis to
about $200 billion in 2014, making the repayment capacity more difficult. The
problem now for Greece Greece
According to the experience of Greece , Vietnam Especial , Vietnam Vietnam
needs to continue macroeconomic stability and Vietnam
The most important issue remains the
effective use of loans. Using loans effectively for economic infrastructure
development, basic social as a foundation to promote the production, from which
the government has revenues to repay. If we use inefficient loans, spread
investment, construction projects in progress, the total investment to increase
and prolong the project implementation, slow and put into use, embezzlement,
corruption causing loss of financial resources ... will gradually lead to loss
of ability to repay. Besides, the issue of social policy should be based on the
tolerance of the state budget.
With the strict rules of law,
enhancement of transparency in lending and using loans, repayment, regular
supervision of Parliament, the public debt problems of Vietnam always under
control.
Popular Posts
-
Religion is a part of the spiritual life in society, this phenomenon of the superstructure has been strongly changed with economic - social... -
Vietnam has just done well for the second cycle of Universal Periodical Review (UPR) in Geneva, Switzerland. So, what’s the UPR? an... -
Thai people in Shutdown Bangkok protests Not until this crisis, we have realized the ne... -
Representatives from foreign countries congratulate Viet Nam on its election to the Human Rights Council for the first time on November ... -
A street flowers vendor in Hanoi Another new spring has come to Vietnam, bring... -
If nothing changes, there will be a preferential credit program with hundreds of thousands billion of capital for agriculture and r... -
Recently, several anti-governmental individuals have established series of illegal groups and organizations in the name of civil soci... -
Radio Free Asia (RFA) is a private, nonprofit international broadcasting agency of the United States government that broadcasts and...
All comments [ 11 ]
The public debt crisis in the EU in addition to the current problems of the Vietnamese economy may have a number of negative impacts on it
EU countries have been increasing protectionistic measures to protect domestic industries, resulting in greater dificulties for Vietnamese exports, in addition to competition from other exporters
there was an increase in domestic market competition. In the backdrop of the ongoing public debt crisis and the difficulties challenging the entire global economy, Vietnamese firms are under pressure from foreign investors looking to diversify their market and hedge risks.
To promote high growth, Vietnam had promoted investment very strongly and over an extended period had had an investment-to-GDP ratio, rating second only behind China.
in order to manage and prevent public debt crisis, the most pressing requirement is an effective governmental regulatory mechanism in order to control financial activities and the flows of financial sources.
it is necessary to properly manage and improve efficiency of state investment. In the long term, state investment needs to be actively reduced while investment from non-budget sources needs to increase relative to total social investment; shift the focus of state investment outside of economic activities so as to concentrate on social and infrastructural investment.
state-owned corporations and enterprises diversifying investment outside of their main business and production must cease.
State-owned enterprises should be concentrated on key industries of the national economy, mainly those related to and dealing with socio-economic infrastructure, public services and those pertaining to macroeconomic stability.
systemic stability, prevention of side effects and debt “traps” and practical efficiency in both SOE and financial-banking sector restructuring should be ensured.
At the same time, proper care should be taken to effectively handle such matters as firm acquisitions and mergers, unemployment insurance and social welfare.
We currently have funds for Financing Real Estate, Project Funding, Bridge Loans, Construction Financing, and Ordinary Loans for Company Export/Import financing projects of large volume.
Here is the area of our funding:
* Bridging loans
* Business Loans
* Personal loan
* Investment loan
* Auto loan
* Construction loans
* Debt Consolidation
* Credit line
* Lend Lease
* Second mortgage
* Credit Redemption
* Project Financing
* Mortgage
* Refinancing Loans
* Real Estate Investment loans
* Agent/Brokers.
Our funding interest rate is 3% with 1 year grace period, and the client needs to ensure his/her project with an insurance company of the total loan sum to guarantee the loan as collateral.
E-Mail us: standardonlineinvestment@gmail.com
Your comments