2 months missed period

Phnom Penh (VNA) – Cambodia collected 8,42 billion riel (about 2 billion USD) in national revenue in the first four months of 2020, up 10 percent against the same period last year. Local media on June 5 quoted the Cambodian Ministry of Economy and Finance, saying that of the aforementioned budget revenue, tax revenue reached about 7.1 billion riel (about 1.7 billion USD). The country spent 7,2 billion riel (about 1.7 billion USD) in the period, a year-on-year increase of 31 percent, the ministry said. Earlier, in March, to alleviate the shock caused by the COVID-19 pandemic to the national economy, the Cambodian government announced a reserve budget worth 2 billion USD to help the country's economic pillars, as well as support those working in the textiles and tourism sectors, who lost their jobs. However, the International Monetary Fund (IMF) has forecasted that Cambodia's gross domestic product (GDP) will experience negative growth of 1.7 percent in 2020./. … [Read more...] about Cambodia’s budget revenue reaches 2 billion USD in four months

Hanoi (VNA) - The PetroVietnam Exploration Production Corporation (PVEP) has reported an oil equivalent output of 2.01 million tonnes in the first half of 2020, 4 percent higher than its target. The yield fulfilled 53 percent of the goal set for the entire year. Of the total, the production of crude oil/condensate and natural gas stood at 1.42 million tonnes and 589 million cubic metres, 4 and 1 percent higher than targeted, respectively. According to PVEP President & CEO Tran Quoc Viet, despite the high output, falling global oil prices coupled with the COVID-19 pandemic have hindered the company from achieving its financial targets for the period. To meet the yearly goal, PVEP said it will continue optimising exploitation output, cutting cost, enhancing resources’ quality, and applying technologies in production, among others./. … [Read more...] about PVEP’s oil & gas output surpasses six-month target

Some localities with a relatively high increase in the retail sales of goods included Hai Phong City with an increase of 10.4 percent, Ho Chi Minh City with an increase of 10.1 percent, Hanoi with an increase of 9.9 percent, and Dong Nai with an increase of 8.4 percent. On the opposite, the revenue from accommodation and catering services in the first six months was estimated at nearly VND230 trillion, accounting for 9.9 percent of the total retail sales of consumer goods and services and down 18.1 percent over the same period last year. It increased by 10.2 percent in the same period last year. Of which, the second quarter saw a drop of 26.1 percent. The provinces with the highest reduction were Khanh Hoa with a decrease of 60.3 percent, Ba Ria - Vung Tau with a decrease of 49.4 percent, and Ho Chi Minh City with a decrease of 47.3 percent. Similarly, the revenue from tourism services in the first six months reached VND10.3 trillion, accounting for 0.4 percent of the total retail … [Read more...] about Vietnam’s retail sales increase 3.4 percent in first half of this year

In comparison with December last year, the development situation of the city’s distribution network tended to decrease for large-scale outlets and increase for small-scale ones. Specifically, the city’s distribution network reduced four shopping centers and increased 10 third-grade supermarkets and five convenience stores. However, modern domestic distribution channels still maintained the advantages of the proportion of outlets, dominating the modern retail market. Currently, supermarkets account for 80 percent, shopping centers account for 60 percent, and convenience stores account for 76 percent. To revive the retail industry, modern distribution channels in the city have launched a series of promotional campaigns in the second quarter of this year, at the same time stimulated trading goods through channels such as telephone, website, and apps, and supported shipping policies. The timely changes in selling methods have helped enterprises to improve their revenues. The … [Read more...] about HCMC increases support on online selling

The export of wooden products, deemed among the spearhead sectors in Binh Duong, surpassed 1.7 billion USD in the period, up a mere 0.6 percent year-on-year but representing the lion’s share of the province’s export revenues. … [Read more...] about Binh Duong posts 2.6bn USD trade surplus in H1