Industrial select sector spdr fund

The Vietnam Timber and Forest Product Association reported that exports of timber and wooden products would fall significantly in the next three-six months due to the impacts of COVID-19. That could lead enterprises to cut 70 per cent of capacity and even temporarily suspend production. … [Read more...] about Solutions should prioritise maintaining industrial production

Hanoi (VNS/VNA) - The Ministry of Industry and Trade (MoIT) said that the most important priority at present was to maintain the operation of domestic industrial enterprises during the COVID-19 pandemic. The pandemic has caused a lot of difficulties for enterprises in Vietnam, especially industrial enterprises. If an enterprise is closed due the pandemic, its workers lose their jobs and it has negative impacts on other businesses in the supply chain. According to the ministry, many key industrial sectors had suffered greatly from the COVID-19 pandemic, especially electronics, textiles, leather, footwear and furniture. The textile, garment, leather and footwear industries have suffered due to a decline in demand in the US and European markets, which has had strong impacts on national export value. New orders in April and May are expected to fall by about 70 percent. The ministry predicted that the likelihood of new orders this year end was … [Read more...] about Solutions should prioritise maintaining industrial production: MoIT

The Vietnam Timber and Forest Product Association reported that exports of timber and wooden products would fall significantly in the next three-six months due to the impacts of COVID-19. That could lead enterprises to cut 70 per cent of capacity and even temporarily suspend production. … [Read more...] about Solutions should prioritise maintaining industrial production: ministry

The HCM City Department of Tourism has estimated that the city’s tourism industry suffered losses worth close to $426.2 million in the first quarter of this year due to impacts of the COVID-19 pandemic. … [Read more...] about HCM City: Tourism sector endures losses of over $426 mln in Q1

Hanoi (VNA) – The HCM City Department of Tourism has estimated that the city’s tourism industry suffered losses worth close to 10 trillion VND (426.2 million USD) in the first quarter of this year due to impacts of the COVID-19 pandemic. The department’s data shows that the country’s southern metropolis welcomed just 1.3 million visitors during the first three months of the year, down 42.26 percent from a year earlier. In March alone, tourist arrivals nosedived 84.23 percent year-on-year to about 117,000. The department plans to further strengthen preventive measures against the widely-spreading disease to ensure safety for travellers in the second quarter. It is working with the municipal Department of Science and Technology to explore how to develop community-based tourism in urban cultural spaces in the near future. It also expects to launch a series of tourism stimulus programmes after the pandemic is over to help the industry recover. Last year, HCM … [Read more...] about HCM City: Tourism sector endures losses of over 426 mln USD in Q1