Business climate index

Closed restaurants inside a shopping mall in Ha Dong District, Hanoi, June 20. Photo by VnExpress/Duc Minh. After Hanoi authorities announced that indoor dining and hairdressing can resume on Tuesday, Bui Quang Hung, co-founder of barber shop chain 30Shine, showed his excitement with a post on social media saying, "see you Hanoians on Tuesday morning." He said the shops would open from 7.30 a.m. until late night to clear a backlog of almost a month. "Men have to visit the barber once every three weeks on average because they feel irritated if their hair is one to two centimeters too long." There would be two or three times the usual number of customers for two weeks, he said based on his experience from previous waves. But some other businesses are less hopeful. Trieu Nguyen Quan, owner of the Goofoo Gelato chain of ice cream shops, does not expect many customers for 10 days after reopening since people are afraid of the pandemic. Hoang Tung, CEO of fast-food … [Read more...] about Excited but anxious: Hanoi business owners reopen

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

South Korean Ambassador to Vietnam Park Noh Wan suggested that Vietnam be more flexible in terms of quarantine duration for South Korean businesses and experts. South Korean enterprises have asked the Vietnamese government to adopt quarantine rules with greater flexibility for businesspeople and experts upon entering Vietnam. Minister-Chairman of the Government Office, Chairman of the Council Mai Tien Dung (right) and South Korean Ambassador to Vietnam Park Noh Wan (left). Photo: VGP. This proposal was made at a dialogue held for the first time between the Vietnamese Prime Minister’s Advisory Council for Administrative Procedure Reform and the South Korean business community on July 17. South Korean Ambassador to Vietnam Park Noh Wan said there have been 4,300 South Korean experts and businesspeople entering Vietnam recently, and the figure is poised to increase in the coming time. Park suggested Vietnam be more flexible in terms of quarantine duration for … [Read more...] about S.Korean businesses ask for ease of quarantine rules upon Vietnam entry

Workers at Hoa Cam industrial zone (Photo: VNA) Da Nang (VNA) – The central city of Da Nang has attracted 11 investment projects into its industrial and hi-tech parks since the beginning of this year, including three FDI projects worth 145.3 million USD and eight domestic-invested ones totaling 188.4 billion VND (8.2 million USD). This is an encouraging achievement for the city’s investment promotion amidst complicated developments of the COVID-19 pandemic, which has greatly affects domestic and international production and business, said Pham Truong Son, head of the management board of Da Nang ’s industrial and hi-tech parks, on June 23. To date, industrial and hi-tech parks in the city have attracted 499 projects, of which 368 are domestic-invested, with a total capital of nearly 26.7 trillion VND, and 131 are foreign-invested, with a total investment of 1.74 billion USD. To help enterprises maintain production and business but still ensure the safety of employees, … [Read more...] about Da Nang draws 11 more investment projects in industrial, hi-tech parks

A worker collecting latex in a rubber plantation of Vietnam Rubber Group (GVR)'s member in Chu Pah District, Gia Lai Province. The company shares posted the biggest losses yesterday. — VNS/VNA Photo Shares inched down on Wednesday, weighed by strong selling pressure across most sectors despite gains in some large-cap stocks. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined by 0.22 per cent to 1,376.87 points. The market's breath stayed negative with 298 stocks falling, while 94 stocks rose and 51 ended flat. The liquidity was high as more than 710.77 million shares were traded on the market, worth over VND21.1 trillion (US$528.6 million). The market was weighed by selling forces despite rallies in large-cap stocks, especially bank stocks. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, climbed slightly 0.02 per cent to 1,489.53 points. Twenty stocks of the VN30 basket plummeted, while only nine jumped and one … [Read more...] about Market falls on strong selling forces

The ASEM High-level Policy Dialogue on June 22 (Photo: VNA) Hanoi (VNA) – The Asia - Europe cooperation will be indispensable and increasingly important in the future, Deputy Minister of Foreign Affairs Nguyen Minh Vu said about the significance of the Asia - Europe Meeting (ASEM) High-level Policy Dialogue held on June 22. The dialogue, themed "ASEM at 25: Strengthening Asia-Europe Partnership in a Transforming World", took place in both in-person and videoconference forms in Hanoi under the chair of Vietnamese Minister of Foreign Affairs Bui Thanh Son. It was held at the initiative of Vietnam on the occasion of ASEM’s 25th founding anniversary and also one of the most crucial activities of this forum in 2021. Deputy Foreign Minister Vu stressed that taking place at a time the world is struggling with the COVID-19 pandemic, the dialogue demonstrated the importance that Vietnam and other countries attach to the Asia - Europe partnership. In particular, it showed … [Read more...] about Asia – Europe cooperation to be increasingly important: official