4 million usd to gbp

Hanoi (VNA) – Vietnam’s garment-textile sector sets a target of 39 billion USD in export revenue this year, equal to that of 2019, according to the Vietnam National Textile and Garment Group (Vinatex). Last year, due to impacts of the COVID-19 pandemic, the US-China trade tensions, the trade protectionism and the Brexit, Vietnam’s garment-textile exports reached only 35 billion USD. However, the result is still remarkable given the global demand dropping over 22 percent. In 2020, Vietnam was the only among the world’s top five garment-textile exporters not to have to cease production. Vinatex recorded total revenue of 15.5 trillion VND (670.7 million USD) and combined profits of 628.9 billion VND, equal to 106 percent and 164.8 percent of the set targets, respectively. Vinatex Chairman Le Tien Truong suggested the Government cut long-term interest rates, elaborating that garment-textile firms would find it hard to access loans after a year of low business … [Read more...] about Garment-textile sector eyes 39 billion USD in export turnover

Hanoi (VNA) - The Vietnam Red Cross Society (VNRC) targets mobilising the necessary financial resources to provide at least 1.5 million gifts to poor and near-poor households, victims of Agent Orange (AO), victims of natural disasters and COVID-19 in 2020, and other vulnerable people ahead of the Lunar New Year (Tet) holiday. It forms part of the annual “Tet for the poor and AO victims” campaign held under the “Humanitarian Power 2020” programme, which aims to call on support from all to help the impoverished, AO victims, and other disadvantaged people nationwide enjoy a warm Tet. The VNRC said the programme will be broadcast live on the National Assembly Television Channel on January 16 night. A SMS campaign has been launched to mobilise funding for “Tet for the poor and AO victims”. Each text message with the word “TET” sent to 1409 before February 28 will contribute 20,000 VND (0.90 USD) to the fund. The VNRC and its chapters … [Read more...] about Red Cross Society hopes to present 1.5 million Tet gifts to the needy

Dang Hoang Hai Anh, senior economist of the World Bank in the United States, concurred that the domestic purchasing power is a crucial factor. He stressed that before the coronavirus outbreak, an economic growth model based on the domestic purchasing power had been tabled for discussion globally. For Asian nations such as Vietnam where saving rates are high among the local people, efficiently exploiting such sources of capital could help restore the purchasing power. While focusing on the domestic purchasing power, the Government and enterprises would need to include more measures to boost consumption. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 16

Hanoi (VNA) - Chairman of the Hanoi People’s Committee Chu Ngoc Anh suggested Samsung provide the city with technical support in developing smart city and smart transport and promoting digital transformation. He made the suggestion during a January 14 meeting with the General Director of Samsung Vietnam, Choi Joo Ho, who paid a courtesy call to report on the Republic of Korea (RoK) company’s projects in Hanoi. Choi said that work on Samsung’s Research & Development (R&D) Centre in Hanoi started last March and is on schedule, with 23 percent completed. Once opened, the centre will employ about 3,000 tech engineers primarily responsible for developing software, the 5G network, artificial intelligence (AI), and Big Data, he said, adding that this will contribute to economic growth in Hanoi and Vietnam at large. Samsung Vietnam is committed to strictly complying with local regulations and ensuring workplace safety. He also asked for continued support from … [Read more...] about Samsung urged to back Hanoi in smart city development

Minister of Agriculture and Rural Development Nguyen Xuan Cuong reported at the meeting that between October 6-12, Central cities and provinces from Nghe An to Quang Ngai suffered from three storms and two tropical depressions, along with a cold spell that have triggered prolonged rains and floods. … [Read more...] about PM urges greater rescue efforts amidst historic flooding