First-quarter low growth seeks solutions The nation's economic growth in the first half of the year was at a rate lower than that targeted in the wake of the COVID-19 pandemic hurting production and business activities. The government is mulling over new solutions to drive the economy forwards, with some international forecasts still proving upbeat. Based on economic performance in the first five months of this year, the government has just reported to the National Assembly Standing Committee its fresh forecast that the economy’s total GDP in the first six months of this year will be nearly VND4 quadrillion (US$174.4 billion), up about 5.8% year-on-year, or 0.42 percentage points lower than the target of 6.22% as set out in the Resolution No.01/NQ-CP released on January 1 on the key tasks for the implementation of the socioeconomic development plan and state budget estimates for 2021. The 5.8% rise will also be 0.12 percentage points lower than the government’s … [Read more...] about VIETNAM BUSINESS NEWS JUNE 19
Business continuity management software
A VnExpress survey found that many HCMC’s houses whose rents had fallen by 40-50 percent in 2020 saw these fall further this May and June, with tenants asking the landlords for reductions because their businesses had been suffering because of the fourth Covid-19 wave. The rents of houses on Ky Dong Street in District 3 fell by half over last month. The landlords agreed to reduce house rents to support the tenants whose businesses have been suspended since May 31 when the city launched a social distancing campaign. Nguyen, who rents a house to his run business at the Hang Xanh intersection in Binh Thanh District, said his landlord lowered the rent by 20 percent in May and 30 percent in June. House rent for July will be renegotiated depending on the Covid-19 situation, he added. Landlords who own houses in the central area of District 1, including Huynh Thuc Khang, Ho Tung Mau, and Dong Khoi streets have also reduced rents by 20-30 percent starting June. Meanwhile, many owners … [Read more...] about HCMC business premises rents continue downward spiral
Edge computing is an important key to enterprises’ IT infrastructure strategies and the digital economy. A recent survey by TRA found that 51 percent of IT experts in Asia Pacific have begun applying hybrid IT solutions, combining edge computing, public cloud computing and on-premises infrastructure. Edge computing was chosen by more than 1,100 CTOs as the priority task for the next 12 months. The deployment of edge computing has been going strongly in neighboring markets, according to the report. 79 percent of surveyed institutions in Indonesia have applied edge computing, or have understanding about edge computing. Many of them have been applying edge solutions for advanced projects as well. Meanwhile, Thai businesses plan to step up the use of edge computing in the next 24 months for customers’ experience-oriented projects. TRA’s report confirmed the superiority of the positive effects of these solutions. As much as 72 percent surveyed subjects recognized the benfits of … [Read more...] about How can businesses use edge computing effectively?
Norway provides US$1.3 million for waste management project in Vietnam The Saigon Times A sanitation employee works at a garbage dump. Norway and UNDP have launched a new project to scale up integrated and inclusive waste management models in Vietnam - PHOTO: VNA HCMC - The Government of Norway will provide US$1.3 million for a project to scale up integrated and inclusive waste management models by empowering the informal sector and fostering the circular economy in Vietnam. The Norwegian Embassy in Vietnam and the United Nations Development Program (UNDP) signed an agreement for the project on June 17. This three-year project is aimed at deploying and testing interventions, including direct support for informal waste workers and a management model in the fishery sector. It will also foster an ecosystem-level approach of value chains through the establishment of the Material Recovery Facility, which will be piloted in Quy Nhon City, Binh Dinh Province. The … [Read more...] about Norway provides US$1.3 million for waste management project in Vietnam
Car sales have dropped sharply because of the fourth Covid-19 outbreak, prompting dealers to offer big discounts. The Vietnam Auto Manufacturers' Association reported that its members sold 25,585 products in May, including 17,581 passenger cars, and 7,482 commercial and 522 specialized vehicles, which represented a 14 percent, 16 percent and 33 percent decrease, respectively, from the previous month. The number of domestically assembled cars sold was 13,825, down 20 percent, while the number of imports sold was 11,760, down 7 percent. Meanwhile, TC Motor reported that it sold 6,053 cars in the month, which was lower than the 6.538 in April. VinFast sold 2,855 cars, a slight increase compared with April (2,717). Most of the bestsellers saw a sales decrease compared with April. About 1,789 Toyota Vios were sold in May (the figure was 1,950 in April), while the figures were 1,620 for Hyundai Accent (2,150), 953 for Hyundai Grand i10s (1,212), and 584 for Honda City (749). … [Read more...] about Car dealers offer big discounts amid Covid-19 outbreak
Most of Vietnam's economic indicators in April were good: WB report (Photo: VNA) Hanoi (VNA) - The World Bank in Vietnam has recently announced its updated report on Vietnam Macro Monitoring in May 2021, which states that most of Vietnam's economic indicators in April were good. However, it warns of several risks to the Vietnamese economy due to the most recent outbreak of the COVID-19 pandemic in late April. According to the report, industrial production continued its strong growth momentum last month, increasing by 1.1 percent compared to March, 24.1 percent higher than the same period in 2020. Revenue from retail sales in April also expanded by 2.3 percent month-on-month, after two consecutive months of decline. The consumer price index in April also recorded an increase of 0.5 percent compared to March, reflecting a recovery in household consumption. In terms of exports, a double-digit growth rate was recorded in all major export items, with the fastest … [Read more...] about WB: Most of Vietnam’s economic indicators in April good