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The meeting was chaired by Deputy Prime Minister Vu Duc Dam, who is also head of the steering committee.

The standing board agreed on specific instructions to create favourable conditions for local authorities and businesses to access and purchase vaccines and quickly transport them to Vietnam.

The Health Ministry will work with authorized suppliers and Ho Chi Minh City’s administration on the city’s needs for vaccines.

Localities and businesses must be cautious when seeking vaccines to avoid the case when the manufacturer commits to selling them but deliver in 2022, not in this year.

The standing board urged the Health Ministry to early issue a document on extending the groups prioritized to receive vaccination, while preparing for launching the free-of-charge expanded vaccination drive and on-demand paid vaccination service after completing inoculation for priority groups.

Participants agreed to create the best possible conditions for the trial of homegrown vaccine. If the trial goes well, in the context of vaccine scarcity the Ministry of Health will submit to competent agencies for approval for use homegrown vaccines in emergency circumstances.

The Ministry of Health will coordinate with ministries and sectors to submit to the Government a proposal on accessing all vaccine supply sources in the world towards the goal of achieving herd immunity by the end of 2021, and create mechanisms to facilitate investors’ investment in the production of vaccines in the country to serve not only domestic use but also export.

The health ministry reported that in the coming time, along with Pfizer vaccine already bought, Vietnam is expected to receive a number of vaccines that have been approved for emergency circulation by the World Health Organisation.

Source: VNA

Hai Duong (VNA) – Vice Chairman of the People’s Committee of northern Hai Duong province Luu Van Ban has signed decisions fining two foreigners 40 million VND (1,739 USD) in total for entering Vietnam, working or engaging in other activities without permission of Vietnamese competent authorities.

Specifically, the first one is Wang Shoucheng , who is a Chinese national born in 1970 and now living in Lam Son commune, Hai Duong’s Thanh Mien district. Wang was granted a visa by the border guard station of Lang Son province’s Huu Nghi Border Gate with a temporary stay extension until June 23, 2021 to work at Kam Fung Vietnam International Company Limited in Quat Lam township in Nam Dinh province’s Giao Thuy district. However, on April 22, he quit this job and began working for Champion Product Vietnam Co., Ltd. in Lam Son commune one day later. Wang was fined 20 million VND for violating regulations at Point b, Clause 5, Article 17 of the Government’s Decree 167 dated November 12, 2013 on penalties for administrative violations in the field of security, social order and safety, and prevention of social evils; fire prevention and fighting, and domestic violence prevention and control.

The other was also given the same charge. The Chinese national, Ye Zhaoxin, was born in 1996 and is now living in Lam Son commune as well. He had a temporary stay extension until June 18, 2021 to work at Sun Vigor Vietnam Smart Toy Joint Stock Company in Hai Phong city’s Tien Lang district. However, on April 27, he also left his job and came to work at Champion Product Vietnam Co., Ltd.

With involvement with Wang Shouchen, Vu Van Buong, born in 1967, was fined 1.25 million VND for “letting foreigners stay overnight without declaring temporary residence, failing to instruct foreigners to declare temporary residence as prescribed or failing to comply with other regulations of competent agencies./.

VNA

In the first quarter financial result, Vietnam National Petroleum Group (Petrolimex, PLX) posted a slight fall of 0.6 percent in net revenue to nearly 38.2 trillion VND (1.6 million USD). However, it was still profitable thanks to a cut in expenses in financial activities and others, and gains in other incomes.

Of which, the company’s profit after tax was nearly 736.2 billion VND in the first quarter after reporting a loss of 2.3 trillion VND in the same period last year.

During the period, Petrolimex’s domestic output rose 4.7 percent year-on-year to 2.27 million m3. Retail sales accounted for 55 – 60 percent of its total sales but contributed around 80 percent of its profit.

SSI Securities Corporation (SSI) said that the company’s production growth will continue until the first half of the second quarter, boosted by the Government’s restriction on illicit petrol, especially in the south.

Similarly, Binh Son Refining and Petrochemical Company Limited (BSR) witnessed its revenue reach 21 trillion VND in the first quarter with a profit of over 1.8 trillion VND, while it reported a loss of 2.33 trillion VND in the same period last year.

The main driving force for the recovery in profit was higher crude prices in the international market and crack spread of gasoline products.

Crack spread is the spread created in commodity markets by purchasing oil futures and offsetting the position by selling petrol and heating oil futures.

PetroVietnam Oil Corporation (PVOIL)’s profit after tax was 190.6 billion VND, after losing 537.7 billion VND in the same period last year.

Notably, Thu Duc Trading & Import Export JSC (TMC) even reported net profit of more than 4 billion VND, nine times higher than that of last year.

Another company witnessing profit rise sharply was Nam Song Hau Trading Investing Petroleum JSC (PSH). The company’s revenue was up 10 percent over last year to more than 1.7 trillion VND, resulting in a profit of 44 billion VND, 2.1 times higher than that of the same period in 2020.

Even though there were still some companies recording declines in profit or even losses during the first quarter, in general, oil and gas companies’ results were quite positive.

With positive oil demand outlook, the oil price is expected to continue to rally. Therefore, there is still more room for oil and gas firms to recover.

SSI forecasted that Brent crude price will trade at an average of 68 USD per barrel in 2021, up 62.6 percent year-on-year, and can even go up to 70 USD in 2022.

According to SSI, developed economies are gradually opening again as they have pushed the vaccination rollout. Businesses activities will also recover quickly when countries continue to ease measures to contain COVID-19.

Brent crude was traded at 74.23 USD per barrel on June 17, and on track to head toward 75 USD.

Source: VNA

Hanoi (VNA) – The Ministry of Health always takes safety first when it comes to vaccination against not only COVID-19 but also other diseases, Minister Nguyen Thanh Long told the press on June 17. nationwide COVID-19 vaccination drive , the biggest in the nation’s history, Long said it will be conducted in all localities with the deployment of mobile vaccination stations and application of information technology, and see the participation of all ministries and sectors.

He said the ministry has made a report to the Politburo and Government on the procurement of 150 million doses of COVID-19 vaccines and on the conduction of the upcoming large-scale vaccination.

VNA

Hanoi (VNA) – Hanoi has recently recommended the Government direct competent ministries and sectors to timely issue guidance on meting out punishment to violations of COVID-19 prevention rules in the capital city amidst the new COVID-19 resurgence.

In its latest report on COVID-19 control work sent to the Prime Minister on May 13, the city also suggested tight management of passenger and goods transport vehicles from other provinces to the city as the pandemic has become more complicated.

The Ministry of Health (MoH) should direct hospitals to provide localities with a list of positive cases found in the hospitals along with detailed information on the patients so that the local authorities can trace the suspected COVID-19 cases in a timely fashion.

Hanoi also urged neighbouring provinces to inspect the implementation of pandemic prevention measures at industrial parks and processing zones in line with the MoH’s instruction, and reduce labourer movement between localities.

The city suggested that localities adjacent to Hanoi compile and keep updated lists of workers and experts at the industrial and processing areas who are living in other localities including Hanoi, and share the information with Hanoi , along with information of the vehicles and transport businesses who sign contract to transport those labourers and experts.

Hanoi has logged 62 locally-transmitted COVID-19 infections since the beginning of the latest outbreak on April 29.

It has suspended the operations of a number of non-essential establishments, including sidewalk eateries, karaoke parlours, bars, cinemas, gyms, spas and stadium. Most recently, the city decided to close all sport events, golf courses and training facilities in response to the new COVID-19 outbreak./.

VNA

Hanoi (VNS/VNA) – Several construction firms have reported a drop in profits in the first quarter of this year due to the COVID-19 pandemic and rising material prices .

Since the beginning of this year, the prices of construction materials on the market have increased sharply amid worries over shortages of materials and rising demand for economic recovery after COVID-19 .

Local brands have increased steel prices by 30-40 percent compared to the fourth quarter of 2020, putting great pressure on the construction industry, as steel currently accounts for 20 percent of inputs for construction work .

Not only steel, the price of cement has also skyrocketed. Since mid-April, many cement manufacturers have adjusted the price of products sold with an increase of 40,000 VND per tonne.

The prices of some other key materials such as sand and gravel are also increasing dramatically.

Facing the double pressure from the COVID-19 pandemic and rises in material prices, a series of contractors have decided to suspend construction progress to wait for market stabilisation.

Coteccons Construction Corporation (CTD)’s revenue fell from 3.5 trillion VND (151.5 million USD) in Q1 last year to 2.56 trillion VND in Q1 this year, down by nearly 28 percent.

Gross profit was 120 billion VND, down by more than 38 percent compared to 2020. The gross profit margin was 4.67 percent, significantly lower than 5.46 percent of the same period last year.

Its pre-tax profit dropped 55 percent to touch 69 billion VND. On the stock market, CTD prices have dropped and are currently being traded at 58,600 VND per share, down more than 27 percent since the beginning of the year.

The pre-tax profit of Hoa Binh Construction and Real Estate Corporation (HBC) in Q1 decreased by 12 billion VND, down 37 percent. In contrast, the gross profit margin improved from 7.7 percent in Q1, 2020 to 8.7 percent in Q1 this year.

This year, in addition to civil real estate construction, HBC has stepped up contracting for energy, industrial and infrastructure projects to increase market share.

Ricons Construction Investment JSC reported its Q1 profit decreased 28 percent to VNĐ31 billion.

Hung Thinh Incons Joint Stock Company (HTN) saw revenue in Q1 increased to 1.16 trillion VND but gross profit fell sharply to 103 billion VND.

In a new report, the Vietnam Steel Association (VSA) indicated that steel prices may continue to rise until the end of the third quarter.

On its side, the Vietnam Association of Construction Contractors (VACC) has issued a petition to the Government to soon direct ministries and branches to examine the cause of the sudden increase in steel prices./.

VNA