Vietnam’s Ministry of Information and Communications told companies not to import “too many” iPhones, as the government tries to cut purchases of luxury items to narrow the trade deficit, reports "Bloomberg" (http://www.thanhniennews.com/2010/Pages/20100507180250.aspx).
“Phone companies should carefully consider their import plans of iPhones as well as other related 3G equipment,” the article quotes Nguyen Thanh Hung, vice minister of information and communication, as saying. “We need to economize, and we shouldn’t waste our money on luxury items” as Vietnam struggles with a widening shortfall, Hung said in a telephone interview Wednesday from Hanoi.
For the four months through April, Vietnam posted a $4.65 billion trade shortfall, compared with a surplus reported at the same time a year ago. For the year to date, imports surged...| Read more »