Corporate news

Vietnam records 1.35 billion USD trade deficit in first half of June Vietnam reported a trade deficit of 1.35 billion USD in the first half of June as exports reached only 12.3 billion USD – down nearly 2 billion USD compared to the latter half of May, the General Department of Customs has announced. Among items posting the strongest turnover decline included computers, electronics and parts with 1.06 billion USD, down 800 million USD; machinery and equipment with 1.1 billion USD, down 260 million USD; and telephones and components with 1.96 billion USD, down 50 million USD. Since the beginning of this year to mid-June, the nation’s trade value surpassed 288.6 billion USD. Of the sum, over 143.3 billion USD came from exports, up 30 percent year-on-year while the remainder of 145.3 billion USD was from imports, up 36 percent. That resulted in a trade deficit of 1.96 billion USD, the department said. According to trade experts, the above-mentioned trade deficit was … [Read more...] about VIETNAM BUSINESS NEWS JUNE 23

At the talks (Photo: VNA) Hanoi (VNA) – Minister of Foreign Affairs Bui Thanh Son on June 23 held talks with his counterpart from the Republic of Korea Chung Eui Yong during which both sides agreed to boost the bilateral relations further. Chung, who is on an official visit to Vietnam from June 21 – 23, congratulated Vietnam on the success of the elections of deputies to the 15th National Assembly and all-level People’s Councils for the 2021 – 2026 tenure, and highly regarded the country as a non-permanent member of the UN Security Council for the 2020 – 2021 term. He also expressed his confidence that Vietnam will achieve more successes in socio-economic development and diplomacy in the time to come. The two FMs exchanged views on the bilateral ties and international and regional issues of mutual interest. They both reiterated the importance of maintaining and further advancing the Vietnam-RoK Strategic Cooperative Partnership . They also expressed their … [Read more...] about Vietnam, RoK seek to further advance ties

Hung Thinh Corporation, the developer of Hai Giang Merry Land Quy Nhon, the largest tourism complex in Binh Dinh province, has rejected the news that Macau’s leading entertainment SJM Holdings Limited was proposing to participate in this project. Answering questions raised by VIR on this issue, Truong Van Viet, vice chairman of Hung Thinh Corporation confirmed that Hung Thinh so far has not yet any direct contact, meeting, or signing any agreement with SJM Holdings Limited on the involvement in this project. Viet added that the company is now developing the Hai Giang Merry Land located in Quy Nhon city and it is now calling other partners to co-develop this project. “With the large scale and potential of the Merry Land project, it is now interested by many large-scale foreign partners. Hung Thinh Corporation is opening up the cooperation opportunities for any feasible partners to go with us in this project,” Viet said. Due to the COVID-19 pandemic, only foreign partners with … [Read more...] about Uncertainty covers the involvement of SJM Holdings in a $6 billion project in Binh Dinh

Vietnam said it has relaxed quarantine rules for foreign businessmen. Roughly 570 businesspeople from South Korea will arrive in Vietnam today [July 22] as the two countries make efforts to facilitate economic activities in the face of economic slowdown in the Southeast Asian country. South Korean experts arrive in Vietnam. Photo: Bsr.com.vn The businessmen will come to Vietnam on chartered airplanes, Yonhap News Agency cited the South Korean Ministry of Trade, Industry and Energy (MOTIE). MOTIE said a group of more than 1,500 people will also be sent to Vietnam throughout August. According to MOTIE, Vietnam was South Korea’s third largest export destination in 2019. Meanwhile, statistics by Vietnam’s Ministry of Planning and Investment showed that South Korea was Vietnam's biggest investor in the same year with US$7.92 billion worth of foreign direct investment (FDI), accounting for 20.8% of the Southeast Asian country’s FDI in 2019. Big South Korean … [Read more...] about 570 South Korean businesspeople to arrive Vietnam today

The Ho Chi Minh City Department of Transport has proposed that 400 taxis be operated to take local residents to hospitals after the transport service was banned as part of COVID-19 prevention and control measures in the city. The transport department asked the municipal People’s Committee to consider letting 200 taxis of Vinasun Corporation and 200 cabs of Mai Linh Group to resume operations. This will provide favorable conditions for citizens to travel to local hospitals and medical centers. In accordance with Directive No. 10 of the Ho Chi Minh City administration, all taxis, app-based car services, inner-city buses, and inter-provincial coaches were suspended from Sunday. Following the ban, local residents have met a lot of difficulties whenever they need to go to healthcare facilities, the transport department stated. During a social distancing period in the metropolis in April 2020, 200 Mai Linh taxis were operated to transport citizens to local infirmaries. The cabs … [Read more...] about Ho Chi Minh City transport department proposes operation of 400 taxis as ambulance service