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BUSINESS
July 18, 1994 | From Reuters
Vietnam's foreign trade is growing rapidly but imports are growing faster than exports and analysts say the government should make sure an increasing deficit does not get out of hand. Vietnam exported goods worth $1.6 billion in the first half of 1994, a 26% increase over the same period last year, according to figures recently released by the government's General Statistical Office. The value of imports was 30.6% higher at $1.
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CALIFORNIA | LOCAL
September 3, 2003 | From Times Staff and Wire Reports
Nguyen Xuan Oanh, 82, a Harvard-educated economist who tried to improve communist Vietnam's economy and its relations with the United States, died Friday in Ho Chi Minh City of undisclosed causes. Born in 1921 in Bac Giang province north of Hanoi, Oanh graduated from Harvard in 1954 and worked for the International Monetary Fund and World Bank in the 1960s before returning to his homeland. He served as a deputy prime minister of the U.S.
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BUSINESS
April 4, 1994 | From Times Staff and Wire Reports
Economy Expected to Grow 8% in 1994: Vietnam's economy is expected to expand 8% this year, up from 7.5% in 1993 but short of the 9% forecast last week by the Asian Development Bank, according to the nation's Finance Ministry. Finance Ministry Secretary Gen. Tran Van Ta blamed non-competitive exports for limiting economic growth. Export growth will slow to 15% this year from 20% in 1993 due to poor product quality and import quotas imposed by the European Union, he said.
BUSINESS
August 23, 2000 | DAVID LAMB, TIMES STAFF WRITER
The bulls are running, sort of, on Ben Chuong Duong Street, where the world's newest and smallest stock exchange has opened amid a flurry of excitement as Communist investors flirt with the potential rewards of capitalism. Since the exchange's much-delayed debut July 28, trading has been slow, but that's fine with the government. The Vietnam index has risen every trading day, adding 17% to stand at 117.24.
BUSINESS
April 18, 1999 | DAVID LAMB, TIMES STAFF WRITER
Nguyen Thi Dong has never heard of Tiger Woods or Michael Jordan and has never worn a pair of sneakers. But she knows this for sure: Her assembly-line job at the Nike plant here rescued her from poverty. It is a job she wants to keep for "10 years anyway, maybe forever." Dong, who is 27 and has a seventh-grade education, lives with her parents in a small house that has electricity and a TV. When the prices of rice and chicken are low, she can save a few dollars from her $42 monthly paycheck.
BUSINESS
August 15, 1994 | From Reuters
In a bid to curb widespread use of U.S. dollar bills, the Vietnamese government has served notice that most foreign currency will have to be channeled through banks beginning Oct. 1. The aim of the measure decided by Prime Minister Vo Van Kiet is to control an estimated $600 million now circulating in dollar notes and to increase use of the Vietnamese dong, a senior government economist said.
BUSINESS
May 15, 1987
Ho Chi Minh City wants to open its own commercial bank to help local enterprises finance new business made possible by Vietnam's economic reforms, according to Hanoi Radio. The city, the center for reformist experiments designed to revive Vietnam's sluggish economy, has applied to the central government to open the new bank, the radio said.
BUSINESS
December 13, 1993 | BRIAN RAY BALLOU, TIMES STAFF WRITER
The likelihood that the U.S. government will soon lift its trade embargo against Vietnam has many eager American investors lining up for the door to open. But a group of Vietnam specialists, who issued a report last week analyzing the state of Vietnam's economy, its political structure and recent attempts at economic reform, said Vietnam is a long way from being a stable place to invest.
NEWS
February 3, 1999 | JIM MANN
Not long ago, Vietnamese officials approached Pete Peterson, the U.S. ambassador in Hanoi, with an unusual overture: Might the United States be interested in importing a bunch of Vietnamese laborers to work under contract? Vietnam has been exporting many thousands of its workers, mostly to neighbors such as Japan and South Korea. Officials in Ho Chi Minh City, the former Saigon, recently boasted that they had cut that city's unemployment rate to 6% last year.
CALIFORNIA | LOCAL
January 29, 1994
John McAlister in his introduction to "Vo Nguyen Giap" (Opinion, Jan. 9) and his interview created many false perceptions, among them that lifting the U.S. embargo against Vietnam would be a "cure-all" solution for all Vietnamese economic ills and that Vietnamese communists have always wanted to be on our side. First, the sorry state of the Vietnam economy was a direct result of Vietnamese economic and political policies, not from the U.S. embargo, as he asserted. After the war ended in 1975, victorious communist Northern Vietnamese imposed a Soviet-style economy on the South, centralizing all decisions, collectivizing all agricultural and industrial productions, and destroying all forms of private ownership.
NEWS
July 14, 2000 | JONATHAN PETERSON, TIMES STAFF WRITER
A quarter of a century after their war came to an end, the United States and Vietnam on Thursday launched a new era of normal economic ties with a trade deal that would grant Americans sweeping rights to do business in a land where they once shed blood, while giving Vietnamese much easier access to the rich U.S. marketplace.
NEWS
February 17, 2000 | DAVID LAMB, TIMES STAFF WRITER
Tran Tien Dat dreamed the dream of the countryside. It was about all the wonders the city must hold: the excitement, the brightly lighted streets and, most important, a steady job. He could not shake these thoughts and knew that one day, despite his parents' objections, he would flee the rice paddies. Last year, he left rural Phu Tho province in northern Vietnam and, as have so many young men, sought work here in the capital.
BUSINESS
December 16, 1999 | DAVID LAMB, TIMES STAFF WRITER
International donors temporarily brushed aside frustrations over the slow pace of economic reform in Vietnam and on Wednesday pledged another $2.1 billion in desperately needed loans and grants for one of the region's poorest countries. The assistance, to be delivered next year, is only a slight decrease from the $2.2 billion pledged for 1999. In addition, the donors Wednesday offered another $700 million if Vietnam meets certain conditions for economic reform.
NEWS
July 26, 1999 | DAVID LAMB, TIMES STAFF WRITER
The U.S. and Vietnam completed three years of negotiations Sunday, agreeing to normalize trade relations in a move that should markedly increase commercial ties between the former enemies. Both sides were ecstatic. "It's something we really wanted," said David Thai, a U.S. investor in Vietnam's coffee industry. "It provides an important psychological boost to the business environment here." The "agreement in principle" was reached by U.S.
NEWS
July 21, 1999 | DAVID LAMB, TIMES STAFF WRITER
Twenty-four years after the end of the Vietnam War, an agreement establishing fully normalized trade relations between the United States and Vietnam is within reach and could be signed within days, officials on both sides say. The accord, known as the Bilateral Trade Agreement, has been the subject of three years of negotiations in Washington and Hanoi. It appeared doomed to failure as recently as 10 months ago.
BUSINESS
April 18, 1999 | DAVID LAMB, TIMES STAFF WRITER
Nguyen Thi Dong has never heard of Tiger Woods or Michael Jordan and has never worn a pair of sneakers. But she knows this for sure: Her assembly-line job at the Nike plant here rescued her from poverty. It is a job she wants to keep for "10 years anyway, maybe forever." Dong, who is 27 and has a seventh-grade education, lives with her parents in a small house that has electricity and a TV. When the prices of rice and chicken are low, she can save a few dollars from her $42 monthly paycheck.
BUSINESS
July 18, 1988 | NICK B. WILLIAMS JR., Times Staff Writer
Tran Van Hung is one of the men Vietnam's economic renovators are counting on to spur private enterprise, but sometimes he wonders. "Life is very hard," moaned Hung in his shoe shop in Cholon, Ho Chi Minh City's Chinese business district. "With these kind of taxes, my back is going to break." According to Hung, municipal tax collectors are hitting him for 60,000 dong a month, up from 1,000 monthly a year ago. "From the earth to the heavens," he said of the increase.
BUSINESS
November 11, 1985 | NICK B. WILLIAMS Jr., Times Staff Writer
The lobby of Hanoi's Thong Nhat Hotel is a sort of international waiting room, a place where foreigners kill time between appointments with Vietnamese officials. But Americans are rarely seen there, and that says a great deal about Vietnam's dashed hopes for postwar aid and economic development. Ten years after the Communist victory over the U.S.-supported government in South Vietnam, Hanoi and Washington are still estranged, without normal relations.
NEWS
February 3, 1999 | JIM MANN
Not long ago, Vietnamese officials approached Pete Peterson, the U.S. ambassador in Hanoi, with an unusual overture: Might the United States be interested in importing a bunch of Vietnamese laborers to work under contract? Vietnam has been exporting many thousands of its workers, mostly to neighbors such as Japan and South Korea. Officials in Ho Chi Minh City, the former Saigon, recently boasted that they had cut that city's unemployment rate to 6% last year.
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