Industry

According to the public investment plan in the period 2021-2025, the total state budget capital allocated for this period is VND2.87 quadrillion, not VND2,750 trillion as being reported to the 10th session of the 14th National Assembly. According to the report on the implementation of medium-term public investment plan for the 2016-2020 period and the plan for the 2021-2025 period, about 4,979 projects will be carried out in the 2021-2025 period, a reduction of more than half compared to the number in the 2016-2020 period, including 2,236 projects to be newly launched. 5 years without any major projects completed More than VND2.8 quadrillion in public investment Luong Bang … [Read more...] about Huge public investment in industries and regions

Conserving the people’s resources advisable By Phan Minh Ngoc The results and effectiveness of government support for the people and businesses should be verified - PHOTO: UYEN VIEN The General Department of Taxation has recently announced the collection of key taxes— such as corporate income tax, luxury tax, value-added tax, and, especially, personal income tax—has all exceeded estimates and targets, being considerably higher than in the same period last year. This news emerged when the pandemic is at its current peak in Vietnam with strict social distancing and lockdown measures implemented across the nation. The now spreading Covid-19 pandemic is aggravating the difficult situation of both the people and the corporate sector that have already been mired in troubles. It is undeniable that the above good news from taxmen has been giving rise to mixed opinions. Some people and companies have even deduced negative thoughts that the authorities have paid more … [Read more...] about Conserving the people’s resources advisable

Legislators at the plenary sitting on July 25 (Photo: VNA) Hanoi (VNA) – The 15th National Assembly (NA) is spending the entire day on July 25, on discussing the implementation of the socio-economic development and State budget plans during the first six months, solutions for task performance in the year’s latter half, and the development plan for 2021 - 2025. The plenary discussion, part of the 15th parliament’s first session, is broadcast live on radio and television. Earlier, Deputy Prime Minister Pham Binh Minh reported on the socio-economic and State budget situations in the first half of 2021, noting that the economic growth of 5.64 percent during the period was relatively high compared to other countries, many localities hit by the COVID-19 pandemic still posted growth, the macro-economy stayed stable, inflation was kept low, while the major balances of the economy, the monetary market, credit, exchange rates, and interest rates were also stable. For the … [Read more...] about NA talks socio-economic development in 2021, next five years

Xiaomi surpassed Apple to become the second largest global smartphone manufacturer in the second quarter of the year. — VNS Photo Xiaomi has become number two in terms of global smartphone shipments, according to market research firm Canalys. It said the Chinese brand surpassed Apple with a 17 per cent share in the second quarter after achieving 83 per cent year-on-year growth. Canalys said Xiaomi is now transforming its business model from challenger to incumbent with initiatives such as channel partner consolidation and more careful management in the open market. Next in its sights is Samsung, the world’s largest vendor, it added. Lei Jun, founder, chairman and CEO of Xiaomi, said becoming the world's No 2 was a key milestone in the company’s history. After five years of growth under extremely difficult conditions, its product capabilities have improved significantly, and it plans to keep strengthening its core capabilities and cement its second place, he said. He … [Read more...] about Xiaomi rises to No 2 in global smartphone market

Pandemic-hit HCM City looks to sustain growth momentum this year Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May. Data from the municipal Statistics Office, the city’s Gross Regional Domestic Product (GRDP) grew 5.46 percent year-on-year in the first half of this year. Total retail sales of goods and services reached about 542 trillion VND (23.5 billion USD), up 7.3 percent year-on-year. Budget revenue exceeded 198.56 trillion VND, up 20.7 percent and representing 55.7 percent of the yearly plan. Its Industrial Production Index (IIP) picked up 5.9 percent during the period, with growth seen in all four key industries – food and beverage (1.2 percent), pharmaceutical chemistry (2.6 percent), electronics (15.6 percent), and mechanical engineering (10.7 percent). This year, HCM City sets to achieve … [Read more...] about VIETNAM BUSINESS NEWS JULY 25

2,708 new Covid-19 cases confirmed The Saigon Times Medical workers prepare to take samples from residents in HCMC’s Thu Duc City for Covid-19 testing. The Ministry of Health has reported 2,708 new Covid-19 cases, including 1,714 cases in HCMC – PHOTO: THANH HA HCMC – The Ministry of Health this morning, July 26, reported four imported Covid-19 cases and 2,704 domestic infections in 19 localities, including 507 cases whose source of infection remains unknown. HCMC, the biggest coronavirus hotspot in the country, continued making up most of the new cases, at 1,714. Its neighboring provinces of Binh Duong, Tien Giang and Dong Nai had 407, 201 and 125 cases, respectively. In addition, 49 other cases were detected in Vinh Long, 27 in Danang, 26 in Phu Yen, 25 in An Giang and 23 in Binh Thuan. The remaining cases were confirmed in 10 other cities and provinces with each reporting fewer than 20 cases. The number of new cases confirmed this morning fell 1,269 cases over … [Read more...] about 2,708 new Covid-19 cases confirmed