News headlines 7 june 2018

Support policies effectively implemented for pandemic-hit workers: Minister All policies supporting workers affected by the COVID-19 have been implemented in an integrated and effective way, ensuring people’s life, Minister of Labours, Invalids and Social Affairs Dao Ngoc Dung told the 15th National Assembly on July 25 morning. The strong surge in COVID-19 cases since April 27 has put enormous pressure on the economy and society, he said, citing the fact that employment rate reached 2.52 percent, with the services sector being the hardest hit. Some industries are shrinking further this year, such as travel, lodging service and transportation. About 70,000 enterprises in the economy have suspended operation or gone bankrupt. The pandemic has also been attacking industrial parks and export processing zones where a large number of workers are employed, Dung continued. He stressed that HCM City, Hanoi and many other localities have imposed full or partial lockdown and social … [Read more...] about VIETNAM NEWS HEADLINES JULY 25

Shares to move sideways with low liquidity The market will continue to move sideways this week with low liquidity to gradually form a strong enough accumulation base before returning to the uptrend, analysts said. The VN-Index was maintaining the recovery span from the support area of ​​1,286-1,261 points with low liquidity, which was a typical sign for an accumulation period, said analysts from SSI Securities Joint Stock Company (SSI). “The current bottom-fishing demand is still weak, so it was likely that the VN-Index will continue to move sideways with low liquidity,” they said. “The VN-Index may return to the uptrend if the index surpasses the resistance area of ​​1,340 points with the volume rising to the 50-day average,” they said. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched 0.42 per cent higher to close last Friday at 1,299.31 points. The southern market index had lost 3.6 per cent last week. An average of 599.9 million shares were … [Read more...] about VIETNAM BUSINESS NEWS JULY 19

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

Vietnam, EU review bilateral trade deal implementation Minister of Industry and Trade Nguyen Hong Dien and European Commission Vice-President and EU trade commissioner Valdis Dombrovskis have co-chaired the first meeting of the EU-Vietnam Free Trade Agreement (EVFTA)'s Trade Committee. The meeting, held in online format, aimed to review the implementation of the deal and discuss issues related to trade and investment in both bilateral and multilateral frameworks. Participants adopted Decision No. 01 of the committee on its operation mechanism, which comprises regulations on its function, membership, secretariat, decision-making procedure, and information transparency. Both sides agreed to coordinate closely to speed up the implementation of the deal and cope with matters that may pose negative impacts on the operation of businesses of both sides, thus maintaining and developing the supply chain amid COVID-19 pandemic. At the meeting, the two sides also mentioned a number of … [Read more...] about VIETNAM BUSINESS NEWS JULY 21

Agriculture sector remains fairly resilient to COVID-19 While the COVID-19 pandemic has devastated the tourism industry and hit industrial production hard, agriculture and community-based agro-forest production have proven resilient in the tourism-intensive central region. Despite an average reduction at 30 per cent of revenue, farmers in suburban Đà Nẵng, Quảng Nam and Quảng Ngãi have maintained stable incomes compared to other sectors thanks to food chain distribution channels. Traditional fishing and self-sufficient farm production have helped residents in the Chàm Islands off the coast of Hội An, the Lý Sơn Islands off Quảng Ngãi Province and gardeners in rural areas of Cẩm Thanh Commune in Hội An and Hòa Ninh and Túy Loan villages in Đà Nẵng keep going throughout the pandemic. Restaurants, cafes and souvenir shops in Hội An – the most popular tourist destination in central Việt Nam – have closed, but farmers in organic gardens in Cẩm Thanh are still supplying people in … [Read more...] about VIETNAM BUSINESS NEWS JULY 20

Animal feed exports see surge in H1 Luc Ngan lychee of Bac Giang province is protected geographical indication in Japan. Vietnamese firms are urged to pay more attention to register for intellectual property protection in foreign markets. (Photo baochinhphu.vn) Vietnam’s animal feed exports hit nearly 523.88 million USD in the first six months of 2021, up 52.7 percent year-on-year, according to the General Department of Customs. China remains the biggest importer of Vietnam’s animal feed, with turnover reaching 188.3 million USD in the reviewed period. In June alone, China spent 36.62 million USD on importing animal feed from Vietnam, up 47.3 percent from the same period last year. Vietnamese exports of animal feed to Cambodia in January-June rose 41.7 percent to 74.81 million USD, maintaining Vietnam’s second largest importer. Meanwhile, the US surpassed India to become Vietnam’s third biggest importer of livestock feed with turnover hitting 56.42 million … [Read more...] about VIETNAM BUSINESS NEWS JULY 22