...I) NEGATIVE IMPACT 1. Exploit the workforce that is available in host country. Take undue advantage of low cost labors , unskilled labors…, make use of probation to consistently change labors without training or equipping them with experience, skill and qualification Because FDI enterprises in Vietnam are mainly conducted labor-intensive processes such as machining and assembly. Even the leading technology companies such as Intel Inside Sam Sung that have production facilities in Vietnam mainly produced components, as inputs to the process of creating a product in another country. Besides, a number of investment projects of China, one of the major partners of Vietnam, often use Chinese labor instead of hiring workers from VN 2. There is little technology transfer and management skill transfer into Viet Nam. Even Viet Nam becomes an industrial garbage after adopting out of date technologies. Investors tend to keep their “know- how” in secret. Channel 1: At a conference to summarize 25 years of new FDI was organized, Deputy Minister of Planning and Investment said Dao Quang Thu, 80% FDI technology used currently in Viet Nam is average, 5 6 % used is high-tech, 14% low and backward, there are individual cases using outdated technology. Technology transfer is mainly done horizontally - between business enterprises, with little change in the level and technological capacity. Despite the fact that there would be no corporations, they now carry the No. 1 technology, latest...
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...Xuân Mỹ 101537 2. Vũ Thị Hường 101574 3. Trương Linh Trang 101579 4. Nguyễn Đỗ Thiên Trang 093304 Note for faculty: Date: ___/___/___ For the writer: (Signature & full name) 2012 – 2013 CONTENTS CONTENTS i INTRODUCTION ii I. Exchange rates 1 I 1. Exchange rates 1 I 2. Exchange rate regimes 2 I 3. Roles of exchange rates 3 II. Compare and contrast between the value of VND and the others of ASEAN 5 II 1. The exchange rates in Vietnam from 2008 to 2010 6 II 2. The exchange rates in Vietnam in 2011 8 III. Impacts on exchange rates 10 III 1. Balance of Trade 10 III 2. Balance of Payments 11 III 3. Monetary Policy 12 III 4. Differentials in Inflation 12 III 5. Differentials in Interest Rates 12 III 6. Public Debt 12 III 7. Speculation 13 III 8. Employment Outlook 13 III 9. Political Stability and Economic Performance 13 IV. Adjusted policies of Vietnamese government on exchange rates 14 Recommendation a REFERENCES e INTRODUCTION Since Vietnam began to implement the open door policies and integrate into the world economy, Vietnamese trade has jumped by a so large amount, especially after...
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...------------------------------------------------- Portfolio management Financial Investment Danang university of economics 37k16-clc D.I.D Group Contents I. Introduction 2 II. Macro environment 3 II.1 The world macroeconomic: 3 II.2 Vietnam macroeconomic 6 III. Industrial sectors analysis 10 III.1 Tire Industry 10 III.2 Steel industry 12 IV. Company analysis 14 IV.1 Danang rubber JSC (DRC) 14 IV.2 Hoa Phat group (HPG) 19 V. Calculation 24 V.1. Rates of return measurement 24 V.2. Risk measurement 24 VI. Efficient frontier 25 VII. Application 27 VIII. Conclusion 32 Group members 33 I. Introduction Since Vietnam carried out economic innovation in 1986, after 26 years, Vietnam economy had a lot of significant changes. Our country had overcome the poor period and start to join the global development in all aspects. Along with economic development, there are more and more investment opportunities available for potential investors. Vietnam market offers so many channel of investment such as gold market, real estate, bank account, especially stock market.11/07/1998 Vietnam stock market appeared. This establishment created a remarkable point for internal investors. In the global economic situation of recession, Vietnam as well as most of countries in the world have to face many difficulties in improving economic growth. The negative points in economic indicators and economic events as well as the rising of political issues...
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...Board of Governors of the Federal Reserve System International Finance Discussion Papers Number 848 December 2005 Fighting Against Currency Depreciation, Macroeconomic Instability and Sudden Stops Luis-Felipe Zanna NOTE: International Finance Discussion Papers are preliminary materials circulated to stimulate discussion and critical comment. References in publications to International Finance Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be cleared with the author or authors. Recent IFDPs are available on the Web at www.federalreserve.gov/pubs/ifdp/. Fighting Against Currency Depreciation, Macroeconomic Instability and Sudden Stops∗ Luis-Felipe Zanna† First Draft: October 2002 This Draft: November 2005 Abstract In this paper we show that in the aftermath of a crisis, a government that changes the nominal interest rate in response to currency depreciation can induce aggregate instability in the economy by generating self-fulfilling endogenous cycles. In particular if a government raises the interest rate proportionally more than an increase in currency depreciation then it induces self-fulfilling cyclical equilibria that are able to replicate some of the empirical regularities of emerging market crises. We construct an equilibrium characterized by the self-validation of people’s expectations about currency depreciation and by the following stylized facts of the “Sudden Stop” phenomenon: a decline...
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...USE CURRENCY POLICY TO RESTRAIN INFLATION IN VIETNAM UNDER THEORY OF IMPOSSIBLE THREES USE CURRENCY POLICY TO RESTRAIN INFLATION IN VIETNAM UNDER THEORY OF IMPOSSIBLE THREES ------------------------------------------------- VOL 108 05/2011 ------------------------------------------------- VOL 108 05/2011 MAGAZINE ON BANKING SCIENCE AND TRAINING MAGAZINE ON BANKING SCIENCE AND TRAINING INTERNATIONAL EXPERIENCE AND PRACTICE | REASON AND IMPACT OF INCREASE IN CHINESE YUAN VALUE OF CHINA NGUYEN XUAN HONGBanking Academy | | After much pressure on Chinese Yuan (CNY), China made decision on increase in their currency in 6/2010. How will this increase impact on relevant objects? This article aims to find reason and impacte of increase CNY value of Chine on Chinese economy and other countries, including Vietnam | be carefull on exchange rate policy to avoid impact on export. According to economic researcher , adjustment on CNY value may cause instability in Chinese economy due to encouraging investment, increasing independence of economy on external factor, especially when 50% of export comes from foreign-invested enterprises in current. This is contradiction that shall be considered when selecting exchange rate. | 1. CNY exchage rate development before and after increaseValue from 2005 to the date before 21/06/2010: CNY value increased due to application of margin transaction measure, holding CNY to USD rate at CNY=6.83 from 8/2007 | Besides achievement of economic...
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...Contents I. Introduction: 3 II. An Phuoc Company, PESTEL analysis, SWOT analysis, recommendation: 3 1. An Phuoc background (Base on Anphuoc.com) 3 2. PESTEL analysis 4 a. Political Factors 4 b. Economic Factors 4 c. Social-Cultural 6 e. Environment factors 7 f. Legal Factors 7 3. SWOT Analysis of An Phuoc: 8 4. Recommendation: 8 Bibliography 9 AN PHUOC I. Introduction: Long time ago, people knew how to design the fashion styles. In order to afford the demand of the consumers, the designers tried to make more and more new designs. Today, the world has many fashion brands which become famous in the world because of the design such as: Calvin Klein, Diesel, Dolce & Gabbana, … . And An Phuoc is one of the famous brands in Viet Nam. Through many challenges, An Phuoc now has gained the trust of consumers. Moreover, it has gradually asserted brand in the world. This essay isn’t only written in order to let you know better this company, some information of the Vietnam’s PESTEL but also analyze the SWOT of this one. II. An Phuoc Company, PESTEL analysis, SWOT analysis, recommendation: 1. An Phuoc background (Base on Anphuoc.com) Time | Event | 1992 | An Phuoc Garment Manufacturing was established with 50 workers, 40 sewing machines, specialized in manufacturing for exporting enterprises. | April 25,1993 | An Phuoc increased its capital, acquired 300 new sewing machines and 400 new staff, transformed itself in to an direct...
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...Monetary Policy in Vietnam: Alternatives to Inflation Targeting Le Anh Tu Packard (tu.packard@gmail.com) Fifth Draft July 2007 Paper prepared for the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst with support from the United Nations Department of Economic and Social Affairs (UNDESA). Earlier versions of this paper were presented to the May 2005 CEDES/Amherst Research Conference in Buenos Aires and the July 2005 Da Nang Symposium on Continuing Renovation of the Economy and Society. Financial support for this project has been provided by the Ford Foundation, UNDESA, and the Rockefeller Brothers Foundation. My gratitude and thanks go to two anonymous referees, Gerald Epstein, Erinc Yeldan, Jaime Ros, Lance Taylor, Per Berglund, and Phillipe Scholtes for their insightful comments and valuable ideas, and also to numerous colleagues in Vietnam including Dang Nhu Van for their helpful feedback. I am responsible for all remaining errors and omissions. List of Acronyms and Abbreviations ASEAN BFTV BIDV CEPT CIEM CMEA CPRGS DAF FDI FIE GC GDI GDP GNP GSO HDI IMF JV NEER ODA PE PER PRGF PRSC RCC REER ROSCA SBV SOCB SOE UCC UNDP VCP VLSS WTO Association of South East Asian Nations Bank for Foreign Trade of Vietnam Bank for Investment and Development of Vietnam Common Effective Preferential Tariff Central Institute for Economic Management Council of Mutual Economic Assistance Comprehensive Poverty Reduction and Growth Strategy Development...
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...STOCK MARKET I. Defination. 1. Securities. Stock is evidence confirming the rights and legitimate interests of the owner of the property or the capital of the issuer. Securities are shown in the form of certificates, book entries or electronic data. Types of securities including: stocks, bonds, certificates of investment funds, derivative securities… Securities may be represented by a certificate or, more typically, "non-certificated", that is in electronic or "book entry" only form. Certificates may be bearer, meaning they entitle the holder to rights under the security merely by holding the security, or registered, meaning they entitle the holder to rights only if he or she appears on a security register maintained by the issuer or an intermediary. They include shares of corporate stock or mutual funds, bonds issued by corporations or governmental agencies, stock options or other options, limited partnership units, and various other formal investment instruments that are negotiable and fungible. 2. The securities market ? In its actual form, the securities market is the only place where the exchanges, sale or transfer of securities; thereby changing the stock holders. II. The structure and operating principle of the securities market. 1. The structure a. Primary market Primary market is the place where the first sale of newly issued securities. The primary market is also known as first market or market issue. Function of primary market: This is the market...
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...ENVIRONMENT ANALYSES 3. Global/Regional economic environment Purpose of analysis: The economic environment consists of economic factors that affect consumer purchasing power and spending pattern. The economic environment can offer both opportunities and threats. No company can avoid the influence of fluctuations in the global economy. And when you're in a developing market, the understanding of the economy is essential. Some elements of the economic environment (The divide between rich and poor purchasing power differences in social class, the market area, the stage of the economic cycle, the volatility of prices of some items such as gasoline, oil, gold) directly affect the purchasing power and consumer tastes, which determines the business results of the company. Changes and effects: * Opportunities: Living up to the world is big opportunity for LV. An increase in the wealthy class can lead to an increase in the ability to pay for items worth far as Louis Vuitton wholesale. For developing countries, previously, LV is a luxury item and overly almost can rarely afford. In Vietnam, the first store opened in 1997 is challenging and adventurous with LV. But back here in 2005, Vietnam had LV is developing very fast. Vietnam's economy is booming. Vietnam Consumers spend money more and more for the product on the essential. They enjoy life, travel overseas, go to theaters and fancy restaurants. The country has now opened the door, people know more about the fashion trends...
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...PROJECT PROPOSAL FPT GROUP Date 18/1/2013 INSTRUCTOR * MSc. Tung Tran Minh * Thang Nguyen Minh SUPERMAN TEAM * Trinh Nguyen Thi Kieu * Truc Nguyen Thi Duong * Thuong Pham Thi Dieu * Trang Nguyen Thi Thanh * Thanh Nguyen Quang Contents 1. PROJECT CHARTER 6 1.1. Team ’s Information : 6 1.2. FPT Group information 6 1.2.1. General information 6 1.2.2. Mission 6 1.2.3. Vision 6 1.2.4. FPT distribution 7 1.2.5. Client organization chart 9 Figure 3. FPT Organization chart 9 1.2.6. Leadership 10 1.2.7. Subsidiaries and Associates 10 2. PROJECT PLAN 11 2.1. Project Schedule 11 2.2. PERT chart 13 2.2.1. Preparation 13 2.2.2. Implementation 13 2.2.2.1. Project charter 2.2.2.2 Project Plan 14 2.2.2.2. The values 14 2.2.3. Conclusion 15 2.3. Critical path 15 2.4. Roles of members 16 2.5. Communication plan 16 3. THE VALUE 17 3.1. Stakeholders in Business 17 3.1.1. Employees 17 a. Compensation system 17 b. Training 17 c. Policy for disabled employees 18 3.1.2. Customer 19 a. Education 19 b. FPT Telecom have regular promotions for customers on holidays 19 3.2. Economic value 20 Figure 6. EPS within 5 years 22 3.3. Asset Value 22 3.3.1. Tangible assets 22 3.3.2. Intangible assets 23 3.4. Organization value 24 3.4.1. For efficiency 24 3.4.2. Customer centric 26 3.4.2.1. Quality of products 26 3.4.2.2. Communication 26 3...
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...Stimulus package of Vietnam 2008-2010 Macroecocomics assignment Contents I. INTRODUCTION 1 II. CONTENT 3 1. THEORETICAL BASE OF THE STIMULUS PACKAGE 3 1.1. Definition 3 1.2. The origin and basis of stimulus package 3 1.3. The basic principles to implement stimulus policies 5 1.4. How to increase the AD in the economy? 6 2. ANALYSIS THE FACT OF VIETNAM 7 2.1. The Effects of the Global Crisis 7 2.2. The first demand stimulus package of Vietnam 10 2.3. The explicitness of the fiscal policy…………………………………………………....19 III. CONCLUSION 23 IV. REFERENCES 24 I. INTRODUCTION Since 2007, nations around the world experienced a series of major economic and financial problems. The events began with the financial crisis of 2007–2008, considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. Affected...
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...Final Exam Notes Lecture 1 => Asia has 32% share of the global economy (in PPP terms that suggest that their currencies are undervalued), is the fastest growing region, and makes significant contribution to global GDP growth => Once a key contributor to GDP, China lost footing to the west due to technological efficiency in the US, UK, and Europe => The four tigers (HK, SG, KR, TW) had 8% growth rates from 1970-1997 due to high saving/investment rates, strong education, stable macro environment, and few downturns => Success of East Asia as a whole due to the aforementioned factors as well as limited price distortions, agricultural development, foreign tech, directed credit, selective industrial promotion, and export push policies => Key weaknesses prior to the 1997 crisis were a lack of increase in output efficiency, poor banking regulations and poor legal frameworks Asian Crisis of 1997 => 1) western investors loaned money to east Asian banks (believing growth would continue and that the IMF would bailout if needed) 2) money was funneled into projects with cheap credit and no collateral 3) projects didn’t have good returns and currency speculators started to sell east Asian currencies 4) triggered drop in baht value leading to overall concern => TH, ID, KR, MY, and lesser extent PH were hammered by the crisis => SG and HK survived due to high reserves and strong economic fundamentals => other countries escaped either because...
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...from 12,000 publications Social Sciences > Economics Essays on monetary policy and currency unions: The case of the East African Community ProQuest Dissertations and Theses, 2011 Dissertation Author: John M. M Ssozi Abstract: Efficient conduct of monetary policy in a currency union demands that partner states have similar business cycles, inflation convergence and strong economic ties. The first essay investigates inflation convergence, which is important for a number of reasons: avoiding inflation bias and is an indicator of structural similarities. The essay goes beyond the traditional pairwise unit root tests and applies an unobserved dynamic factor model to test asymmetry in inflation variation. Convergence is measured by the percentage of variation in inflation that is common across countries. The results suggest inflation convergence in the EAC. The main contribution of this essay is the use of an unobserved component model to estimate the degree of inflation convergence in the EAC. The second essay investigates the degree of business cycle synchronization and the evolution of synchronization over time. Inflation divergence is an indicator of structural differences between countries....
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...Contents I. Vision, Mission and Long term objectives of Vietnam Airlines 1. Introduction to Vietnam Airlines: Vietnam Airlines is the national airline of Vietnam, accounting for the largest share (51.8%) in the number of airline operators in Vietnam. In 2013, Vietnam Airlines has transported 15 million passengers and 184 606 tons of cargo over 39 domestic routes and 52 international routes. Vietnam Airlines is the airline also has a large scale in Southeast Asia with dual brands: (1) Traditional airlines (Full-service carrier) with the goal of building the image into a 4-star airline years 2015-2016 , (2) Subsidiaries are Jetstar Pacific meeting the increasing demand in in the cheap aviation segment (Low-cost carrier). Vietnam Airlines is a member of Organization International Civil Aviation (ICAO), the Air Transport Association International Aviation (IATA) and the Alliance Aviation Skyteam (one of the 3 largest airline alliance in the world great). Vietnam Airlines’ History: Vietnam Airlines’ history is deeply rooted in the the earliest days of the Vietnam civil aviation industry, since January 1956 when Civil Aviation Administration was established by the Government of Vietnam. 1956 . . . . . . . . . . . . . The Civil Aviation Administration was established by the Government of Vietnam, commencing the beginning of the country’s civil aviation industry. 1993 . . . . . . ....
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...CT1 – P C – 09 Combined Materials Pack ActEd Study Materials: 2009 Examinations Subject CT1 Contents Study Guide for the 2009 exams Course Notes Question and Answer Bank Series X Assignments* *Note: The Series X Assignment Solutions should also be supplied with this pack unless you chose not to receive them with your study material. If you think that any pages are missing from this pack, please contact ActEd’s admin team by email at ActEd@bpp.com or by phone on 01235 550005. How to use the Combined Materials Pack Guidance on how and when to use the Combined Materials Pack is set out in the Study Guide for the 2009 exams. Important: Copyright Agreement This study material is copyright and is sold for the exclusive use of the purchaser. You may not hire out, lend, give out, sell, store or transmit electronically or photocopy any part of it. You must take care of your material to ensure that it is not used or copied by anybody else. By opening this pack you agree to these conditions. The Actuarial Education Company © IFE: 2009 Examinations All study material produced by ActEd is copyright and is sold for the exclusive use of the purchaser. The copyright is owned by Institute and Faculty Education Limited, a subsidiary of the Faculty and Institute of Actuaries. You may not hire out, lend, give out, sell, store or transmit electronically or photocopy any part of the study material. You must take care of your study material to ensure that...
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