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PRESS DIGEST - Vietnam newspapers-July 2
July 2, 2012 / 2:33 AM / 5 years ago

PRESS DIGEST - Vietnam newspapers-July 2

HANOI, July 2 (Reuters) - These are some of the leading stories in the official Vietnamese press on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL NEWS:

VIETNAM NEWS

- The central bank’s plan to inject 50 trillion dong ($2.4 billion) a month into the economy in the second half of the year to boost lending may trigger the return of inflation next year, economists said.

DAU TU

- The central bank should adjust the foreign exchange rate at the moment to prevent the speculation on and hoarding of the dollar, which will result in pressures on the dong in the later months of the year, bankers and analysts said.

ECONOMIC AND GENERAL NEWS:

VIETNAM NEWS

- ASEAN countries plan to build a Code of Conduct to ensure peace, security and stability in the South China Sea, Vietnam Deputy Foreign Minister Pham Quang Vinh said, adding that the bloc would negotiate with the Chinese side on specific issues.

- The yield of this year’s winter-spring rice crop may rise by 466,000 tonnes from that of 2011 and farmers have harvested 20.26 million tonnes as of June 15, the Agriculture Ministry said.

LAO DONG

- Japan favoured Vietnam’s stance on peace, stability and free navigation in the South China Sea and settlement of disputes via peaceful negotiations and international laws, Japanese Prime Minister Yoshihiko Noda said during Vietnamese Deputy Prime Minister Nguyen Xuan Phuc’s visit to Japan.

TUOI TRE

- The retail prices of many foodstuffs in cities are two to six times higher than those offered by the producers as Vietnam’s troublesome distribution system has enabled dealers to raise prices, producers and analysts said.

THOI BAO KINH TE VIETNAM

- Vietnam should stockpile 500,000 tonnes of rice for one month starting July 10, versus the Agriculture Ministry’s 1-million tonne plan, the Vietnam Food Association said, adding rice shipments for the third quarter would be 2.1 million tonnes, or 700,000 tonnes a month.

- The Agriculture Ministry’s Husbandry Department has sought government permission to allocate 6 trillion dong ($287.5 million) in soft loans to support the industry.

$1=20,850 dong Reporting by Hanoi Newsroom; Editing by Jijo Jacob

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