Low income economies

According to Nghệ An’s Rural Development Division, more than 5,000 households in the province make salt in a total area of nearly 700 ha. Last year, about 58,500 tonnes of salt was made in the province, mostly in Diễn Châu and Quỳnh Lưu districts. … [Read more...] about The heat, and the salt, is on

The activities are also expected to call for more financial investment on Mù Cang Chải District from both organisations and individuals, based on the spirit of cooperation and friendship, to open a new direction for local economic development, create livelihoods and generate income, Xuyến said. … [Read more...] about Tourism programme to highlight delights of Mù Cang Chải District

In addition, the Government cautiously recommended the NA consider and adopt the guideline on several specific mechanisms and policies to revive the economy in the new situation. Accordingly, the Government asked for the NA’s permission to proactively adjust the 2020 public investment plans among ministries, sectors and localities within the expenditure estimate on development investment; convert the investment mode for important transport projects from that of a public-private partnership to the use of the state budget; exempt and reduce a number of tax obligations concerning the areas and subjects suffering heavy losses due to COVID-19; postpone the increase of basic salary for civil servants, public employees and the armed forces and pensions from July 1, 2020; and consider launching new economic stimulus packages if the pandemic continues to be prolonged on a global scale. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30

SHB’s loans to small- and medium-sized enterprises in Vietnam, which made up for 31 per cent of gross loans at the end of 2019, will pose renewed asset risk since these groups are short of financial buffers to withstand revenue shocks. VPBank’s is also feeling growing pressure from the quality of its loans to sectors at-risk such as export and tourism-related firms, Moody’s cautioned. … [Read more...] about Consumers risk higher defaults amid lending sector fluctuation

Techcombank, on the other hand, capped a positive earnings for the first quarter of VND2.5 trillion ($108.7 million) despite the market volatility – a nearly 20-per-cent increase compared to last year. It was also one of a few banks recording upbeat performance in Vietnam, but still maintaining sound operational safety ratios. Techcombank’s foreign investors include Norges Bank – the central bank of Norway which also manages the Norwegian government’s pension fund. However, it is still too early to say if Norges Bank would further inject capital into Techcombank, as they “do not comment on single investments,” Line Aaltvedt, manager of Communications and External Relations at Norges Bank, told VIR. … [Read more...] about Upcoming EVFTA to fortify lenders