No dramatic change for 2009 imports

Total import value in 2009 is predicted not to increase suddenly due to the fact that the prices of 4 essential goods, including iron, steel, fertilizer and oil and gas, have decreased strongly by 30-50 percent against 2008, according to the Ministry of Industry and Trade.

In addition, when the Dung Quat Oil Refinery was put into operation, the import volume of oil and gas in 2009 will be reduced by 11 million tonnes. Turnover is estimated at US$6 billion, US$5 billion less than in 2008.

Other difficulties lie in securing capital and fluctuating interest rates, meaning businesses and individuals will have to spend less on production and consumption, leading to a decline in demand for imported materials and goods.

vov

>   Mekong Delta set to harvest bumper rice crop (05/01/2009)

>   The challenges of WTO membership are real (05/01/2009)

>   Vietnam to import 5 million tons of steel in 2009 (05/01/2009)

>   Decline in exports could see textile firms shed more jobs (05/01/2009)

>   PetroVietnam, FPT top VNR500 list (05/01/2009)

>   Footwear exporters keep sights high despite economy (05/01/2009)

>   Vietnam sees power demand slowing with economy (05/01/2009)

>   Melamine check eased for imported animal feed (05/01/2009)

>   The trend of key export goods in 2009 (05/01/2009)

>   When consumers tighten purse-strings (05/01/2009)