Vietnam’s agro-forestry-aquatic product import-export hits over $82bil Vietnam’s agro-forestry-aquatic product exports and imports were estimated at nearly 82.67 billion USD in the first 11 months of this year, up 24.7 percent annually. Of the figure, around 43.48 billion USD was worth of exports, up 14.2 percent while nearly 39.18 billion USD was from imports, up 39 percent, resulting in a trade surplus of roughly 4.3 billion USD, down 56.5 percent year-on-year. The US was the biggest export market of Vietnam with over 11.9 billion USD, or 27.5 percent of the market share. It was followed by China with around 8.4 billion USD, accounting for 19.2 percent, and Japan with nearly 3 billion USD, or 6.9 percent. Share plunge as Omicron worries local investors Vietnamese shares plunged on Friday as the spread of the Omicron coronavirus variant dampened investor sentiment, triggering worries about hits to a nascent economic recovery. The market benchmark VN-Index on the Ho Chi … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 4
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The foreign enterprises shift their focus from surviving the pandemic to developing in the new normal. Six European enterprises have won awards for their resilience and contribution to Vietnam’s fight against the pandemic at the European Night-Business Resilience Awards 2021. Delegates at the event. Photo: EuroCham Vietnam For the best initiative to support Vietnam during the fourth wave of Covid-19, Becamex , Binh Duong-based industrial infrastructure developer, and Annam Group were recognized for their contributions to the country’s fight against the pandemic. The winners for best management initiative to support workers and their families were De Heus, a Dutch animal nutrition supplier, and Bosch, a German supplier, for their efforts in aiding staff not only through livelihoods support but also through policies ensuring their health and well-being during the recent outbreak. Two of the leading agri-food companies, Orlar and Les Vergers du … [Read more...] about EuroCham members win business resilience awards
In a letter sent to all 63 cities and provinces Monday, the ministry stated the pandemic situation has grown more complex in many countries, especially with the appearance of the mutated strain Omicron, or B.1.1.529 Covid variant, first sequenced in South Africa and designated by the World Health Organization (WHO) as a top Variant of Concern (VOC). The WHO stated last week the variant had been detected in at least 38 countries and territories. Though it is not yet confirmed if Omicron would cause more severe Covid-19 conditions, it has been said the strain is more transmissible compared to Delta and previous strains as it carries many mutations, said Tran Dac Phu, a senior advisor at the Public Health Emergency Operations Center under the ministry. Therefore, it is necessary to stay alert because the highly contagious strain could overload the nation's healthcare system, he said. The ministry requested localities to keep strengthening Covid-19 prevention and control measures, … [Read more...] about Omicron risk ‘very high’: Health Ministry
The automobile market has become bustling again after the Government cut by 50 percent the vehicle registration tax. Car sales in the first three quarters of the year witnessed a sharp fall of 46 percent compared with the same period last year. However, the market has warmed up since the second month of the fourth quarter, when pandemic developments became less complicated and the vehicle registration tax was reduced by 50 percent. More than 40 domestically assembled car models, from low-cost to luxury ones, are getting benefits from the Government’s tax cut policy. With the tax cut, people can save from tens to VND100 million when buying cars. Nguyen Van Truong in Dong Anh district in Hanoi decided to buy a Hyundai Tucson shortly after the release of the new policy. “If you buy cars right now, you will get benefits from both the price discount policies applied by sale agents and the registration tax cut. If you are hesitant, you may miss the golden opportunity as car … [Read more...] about People queue to buy cars as Government halves registration tax
Asia was the first to experience the virus, the first to exit lockdown, and now has new spikes. Asia was the first place to experience the coronavirus, impose lockdowns and then emerge from them. It was also the first to experience new groups of infections, with clusters from nightclubs in Seoul, the Russia-China border, and elsewhere. Although it is early for conclusions, can lessons be learned? 1. Wave, spike or cluster - it's unavoidable Terms such as second wave, spikes or clusters of cases are bandied around, but what do they mean? Medically, a second wave refers to the resurgence of infection in a different part of a population after an initial decrease. The WHO says past pandemics have been characterised by "waves of activity spread over months". In Asia, we have been seeing isolated clusters and regional spikes in infection numbers. and it is hard to predict how they will develop. But for Jennifer Rohn, a cell biologist at University College, London, a second … [Read more...] about Coronavirus ‘second wave’: What lessons can we learn from Asia?
Vietnam Economic Forum scheduled for December 5 The event will take place at the International Convention Centre in Hanoi on December 5 to review Vietnam’s economic development in 2020-2021, and policies adopted to cope with the COVID-19 pandemic. Specifically, it will give insight into the trend of economic restructuring and changes in production and business models due to pandemic impacts, along with policies that have been rolled out in the world to tackle COVID-19, thus withdrawing lessons for Vietnam in this regard. The organisers launched the official website of the forum, at diendankinhte.quochoi.vn, in Vietnamese and English languages. Reference exchange rate stays stable on Dec. 3 The State Bank of Vietnam set the daily reference exchange rate at 23,117 VND/USD on December 3, unchanged from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,812 VND/USD and the floor … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 3