Business news

Net interest income (NII) for the first half grew to VND8.1 trillion, up 23 per cent from the same period last year. Net Fee and Commission Income (NFI) was VND2 trillion, posting 57 per cent year-on-year increase. NFI was 16.8 per cent of TOI as compared to 13.8 per cent in the first half of 2019, with a strong contribution from bond underwriting activity during the period. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 3

Hoang Tung, CEO of Pizza Home, who gained a reputation for selling special items for the pandemic such as pink pizza to support dragon fruit growers, said: “It is likely that this industry will face the next crisis due to the new wave of COVID-19,” however, the CEO saw positive sides. … [Read more...] about F&B businesses prepare for possible second round of social distancing

The participants at a recent online workshop on credit and capital market held by Fitch Ratings and The Asset journal all agreed that Vietnam is benefiting from multi-national groups’ strategy on relocating their production bases out of China. Muralidharan Ramakrishnan from Fitch Ratings estimated that the capital EVN needs to develop infrastructure may amount to $4-5 billion in the next 2-3 years. … [Read more...] about VN businesses seek low-cost capital to develop infrastructure

Also on June 23, Vice President of the Asian Infrastructure Investment Bank (AIIB)’s Investment Operations D.J. Pandian said the AIIB has approved a total of 1 billion USD in loans for two projects in Indonesia as part of a coordinated international effort to support the Indonesian government’s plans to strengthen the country’s social safety network, bolster its health response and stem the economic downturn from the coronavirus health crisis. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia June 24

Phnom Penh (VNA) – The Cambodian government has decided to extend tax breaks for another two months for tourism-dependent businesses to overcome difficulties during the COVID-19 crisis, the Ministry of Tourism said on August 3. The exemption, which takes effect in August and September, is granted to hotels, guesthouses, restaurants and tour companies in capital Phnom Penh and in Siem Reap, Sihanouk, Kep and Kampot provinces, as well as in Bavet and Poipet cities, according to the ministry. It added that the government will continue transferring 40 USD per month for staff and workers in the tourism sector for another two months. Tourism Minister Thong Khon said over 3,000 tourism-related businesses in Cambodia have been closed due to COVID-19, leaving more than 50,000 workers unemployed. Last weekend, the government announced that it will continue supporting unemployed workers in the garment-textile sector for another two months. Each will receive 40 USD per month from … [Read more...] about Cambodia extends tax breaks for tourism-dependent businesses