Business beat

Hanoi (VNA) – Despite the COVID-19 pandemic’s impact, the wood industry still enjoyed 3.2 billion USD in exports in the first four months of 2019, up 6 percent year on year, thanks to businesses’ efforts to switch to online trading and find new markets. During the period, about 7 percent of members of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) had to halt operation while 51 percent cut output. About 45 percent of their employees were also laid off temporarily. However, HAWA members still earned more than 1 billion USD from timber and forestry product exports, rising by over 10 percent year on year. Of the value, over 698,000 USD was from wood product shipments, up 5.8 percent from a year earlier. Data from the Binh Dinh Department of Industry and Trade also shows that wood firms in the province also recorded a year-on-year increase of 13 percent in exports to about 188 million USD in the four months. Chairman of the Binh Dinh Forest … [Read more...] about Wood exports grow thanks to businesses’ activeness

The video conference will connect representatives from the Government Office, the Ministry of Agriculture and Rural Development, the Ministry of Industry and Trade, trade offices and embassies in Vietnam of China, Japan, and Thailand, leading local and foreign retailers such as Aeon, the Central Group, Mega Market, Saigon Co.op, Hapro and Vinmart, and a number of major wholesale markets and distributors. … [Read more...] about BUSINESS NEWS HEADLINES MAY 26

Tien Giang (VNA) - Businesses in the Mekong Delta province of Tien Giang hit hard by COVID-19 are seeking support, including deadline extensions for tax payments, from the provincial authorities. Director of the provincial Department of Culture, Sport and Tourism Nguyen Duc Dam said that more than 1,200 businesses, households and clubs in the fields of culture, tourism and sport had to stop operating due to COVID-19. In the first quarter, Tien Giang received over 375,000 tourists and earned 160 billion VND (6.9 million USD) in tourism revenue, a drop of 43 percent and 50 percent, respectively, year-on-year.   Phan Hoai Lam, deputy director of Saigontourist's branch in the province, said that revenue had dropped drastically and there were no foreign tourists. Domestic tourism had just started to pick up, he added.  Lam said his company was looking for tax reductions and extended deadlines for social insurance and VAT … [Read more...] about Tien Giang province to aid travel businesses hit by COVID-19

In the 2020 V.League 1, Đà Nẵng lost two consecutive games against Bình Dường and Sài Gòn. Winning in the national cup is an important opportunity for both coach and players of Đà Nẵng to improve their resolve for the next stage. … [Read more...] about Đà Nẵng beat Huế in National Cup

The settlement of collateral of customers with bad debts and the settlement debts at the Viet Nam Asset Management Company (VAMC) have been postponed until next year, causing the total pre-tax profit in 2020 to sharply fall by 40 per cent to VND1.3 trillion compared to the original plan set for 2020 but still up 22 per cent compared to the results achieved in 2019. … [Read more...] about Eximbank delays AGM to June 30, adjusting business plan for 2020