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Vietnam grasps opportunities to expand agricultural export market Viet Nam's agricultural products are being exported to more than 180 countries and territories, particularly products moving from the mid-range market to the higher-end segment. This information was provided at an online trade connection programme with the participation of representatives and business communities of India and three countries of the Greater Mekong Sub-region (GMS), namely Viet Nam, Thailand and Cambodia on Monday. This formed part of a series of activities of a project to strengthen international integration of small and medium-sized enterprises (SMEs) of India and the GMS countries, towards promoting global value chains and trade between India and the GMS countries, which is financed by the Asian Development Bank (ADB). Le Hoang Tai, Deputy Director of the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade, emphasised that farm produce and food were key exports of Viet Nam. … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 13

Experts: Night-time economy expected to boost Hanoi tourism Ta Hien street in Hanoi Night-time economy is expected to develop Hanoi tourism, tourism experts and policymakers said. The Hanoi Old Quarter, locating in the downtown in Hoan Kiem district, is the most popular destination in the capital city. Tourists come here to explore ancient streets, craft products, local food or experience lives there. In the evening, streets become more crowded and lively with Hang Dao – Dong Xuan nigh fair and outdoor music performances. Since 2016, Hanoi has allowed Hoan Kiem district to pilot the extension of opening hour of bars and restaurants to 2am. As a result, their revenues increased by about 30 percent. Following the pilot, tourist arrivals in 2016 neared 1.4 million, up 22.8 percent from a year earlier. The figure went up to 1.95 million in 2017, nearly 2.2 million in 2018 and 2.5 million in 2019. The number of business households switching to hospitality services … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JUNE 23

Trade surplus expected to soar sharply in the last months of the year The trade surplus is expected to soar sharply in the last months of the year The General Department of Customs has just released its report on Vietnam's imports and exports in the second half of September. Accordingly, the total import-export value reached $29.07 billion, up 17.9 per cent (equalling $4.42 billion) over the first half of the month. This outcome has boosted the total import-export turnover in the first nine months of 2021 to $483.82 billion (up 24.6 per cent on-year, equivalent to $95.39 billion). In the second half of September, trade surplus was $1.87 billion, contributing to reducing the trade deficit to $2.55 billion in the first nine months. Of this, total import-export turnover of the foreign-invested enterprises (FIEs) was $335.85 billion, an increase of 28 per cent on-year (equalling $73.48 billion); total value of local firms was $147.97 billion, a rise of 17.4 per … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 19

Revenue to state budget increases over 10 percent The revenue to the state budget in the first 9 months of this year amounted to 1,084.7 trillion VND, representing 80.75 percent of the projection and an increase of 10.75 percent over the figure recorded in the same period last year, according to the Finance Ministry. Meanwhile, the expenditure from the state coffer was estimated at 116.3 trillion VND, with the fight against the COVID-19 pandemic being prioritised. By the end of September, 29.1 trillion VND from the state budget was spend on the fight and support to those adversely affected by the pandemic. Despite the serious impacts of the pandemic, the revenue still increased year on year thanks to the economic growth momentum in the last month of last year, the ministry said. For the rest of the year, the ministry will continue accelerating administrative procedure reforms on taxation, simplifying business conditions, and joining other forces in fighting … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 16

Dang Trong Ha, 27 years old, from central province of Nghe An, moved to southern Dong Nai Province in April with the hope of finding a well-paid job. The exodus of migrant workers will cause severe labour shortage for HCM City and southern provinces. He had no idea COVID-19 would strike the region and leave workers like him jobless and stuck at home for months. After losing his job at a shoe company and spending nearly five months in Dong Nai without any income and support, he set out for his hometown in Nghe An Province, about 1,300km away, on motorbike, the longest motorbike trip he ever took. “Sai Gon is no longer the promised land for workers like me,” Ha said while he was staying at a quarantine facility in his hometown following his trip. “For me, there will be no return to the southern region. After quarantine, I will return home, find a job in my hometown or in the Hanoi area to earn money, learn a foreign language to make me more appealing to find a good … [Read more...] about Businesses struggle with labour shortage following the big exodus of migrant workers

Mô tả ảnh Releasing the spring Mr. Chu Tien Dung, Chairman of HCMC Union of Business Association, informed that businesses had actively worked with workers and partners to increase production and resolve backlogged orders to create conditions to receive new orders. Mr. Do Phuoc Tong, Chairman of the Board of Members of Duy Khanh Mechanical Company, said that the company restored 98 percent of production capacity while the remaining 2 percent was waiting for replenishment. This enterprise has been closely contacting relevant authorities to determine the pandemic-free areas to support safe accommodation for workers. According to Hepza, up to now, nearly 200,000 out of 288,000 workers have returned to work. Many enterprises have restored production to 90 percent of capacity. Mr. Nguyen Van Be, Chairman of the Hepza Business Association, said that after 15 days of remanufacturing, 1,500 enterprises, including 500 FDI enterprises - an important link in the global supply chain … [Read more...] about Enterprises accelerate production, business recovery