The Vietnamese Ministry of Health on Wednesday reported an additional 913 Covid-19 infections, raising the country's total tally to over 10.75 million. Illustrative photo According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 42 out of 63 localities in the country. As of Wednesday evening, the number of Covid-19 patients in Vietnam has increased to over 10.75 million. On July 6, an additional 7,626 more patients recovered from the disease, raising the number of recoveries in the country to over 9.73 million. On Wednesday evening, no deaths related to Covid-19 were recorded, the country's total fatalities stay at 43,089, accounting for 0.4 per cent of total infections. By July 5, Vietnam had injected more than 234 million doses of Covid-19 vaccines, including over 8.85 million given to children aged 5 to 11. Speaking at a Monday meeting, deputy minister of health Nguyen Thi Lien Huong said that the … [Read more...] about Additional 913 new Covid-19 infections reported on Wednesday
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PV Power’s first-half post-tax profit nears $50 million
A view of Nhon Trach 1 and Nhon Trach 2 power plants in Dong Nai. — Photo pvpower.vn PetroVietnam Power Corporation (PV Power) reported post-tax profit of VND1.159 trillion (over US$49.56 million) in the first six months of this year, surpassing the target set for the entire year by 56 per cent. This year, PV Power's profit plan has been adjusted down from its previously announced level. Therefore, its first-half post-tax profit, despite representing an annual decrease of 19 per cent, still exceeded the yearly goal. Also in the period, its electricity output reached 7.1 billion kWh, reducing by 25 per cent year-on-year. Nguyen Dinh Thi, head of PV Power's economic planning department, said that with such output decrease, the company’s revenue amounted to VND14.865 trillion, equaling 61.3 per cent of the yearly plan but down five per cent compared to the same previous last year. Meanwhile, mobilised electricity prices in the first half increased sharply, even hitting … [Read more...] about PV Power’s first-half post-tax profit nears $50 million
More local enterprises should supply the Japanese production chain in Viet Nam
In Viet Nam, Toyota reaches the sale of 96,000 vehicles last year, of which 44 per cent are assembled domestically with different models. — Photo courtesy of the firm Despite the efforts of Japan and Viet Nam, the participation of Vietnamese enterprises in the supply chain of supporting industry products of Japan is still limited. At the online trading session on supporting industry Vietnam and Japan 2022 on Tuesday, Vu Ba Phu, director of the Trade Promotion Agency from the Ministry of Industry and Trade (MoIT), said: “Over the years, supporting industry enterprises of Japan and Viet Nam has been improving its production capacity and participating more and more deeply in the global production chain.” Phu added that the number of enterprises operating in the supporting industry accounts for nearly 4.5 per cent of the total number of enterprises in the processing and manufacturing industry, creating jobs for more than 600,000 employees, accounting for 8 per cent of the total … [Read more...] about More local enterprises should supply the Japanese production chain in Viet Nam
State budget faces $1.4 billion drop from fuel tax cuts
A driver in Ha Noi fills up a motorbike at a gas station. — VNA/VNS Photo Measures taken to bring down petrol prices could reduce State budget collection by VND32.5 trillion (US$1.4 billion) this year, according to deputy minister of finance Nguyen Duc Chi. Speaking to reporters at the ministry's monthly meeting, Chi said the Ministry of Finance has put forward a proposal to cut or remove a number of fees and taxes on fuel imports in an attempt to rein in rising petrol prices, which has been hurting economic recovery and businesses. The proposal, which has been approved by the National Assembly's Standing Committee, brought import tax on gasoline from VND2,000 to VND1,000, jet fuel from VND1,500 to VND1,000, diesel from VND1,000 to VND500 and lubricant from VND,000 to VND300. Chairman of the NA Vuong Dinh Hue said as fuel was considered among the country's strategic commodities the government was to utilise all measures and policies at its disposal to regulate prices for the … [Read more...] about State budget faces $1.4 billion drop from fuel tax cuts
Vietnamese studies expert highlights Vietnam’s role in Russia – Southeast Asia ties
Russian Foreign Minister Sergey Lavrov, who is scheduled to visit Vietnam on July 5-6 (Photo: AFP/VNA) Moscow (VNA) - Grigory Lokshin , an expert from the Centre for Vietnam and ASEAN Studies under the Russian Academy of Sciences’ Institute of Far Eastern Studies, has highlighted Vietnam's important role in stable ties between between Russia and the Far East in particular and Southeast Asia. Lokshin made the comment on July 5 while being interviewed by Russia’s Independent newspaper at the outset of Russian Foreign Minister Sergey Lavrov ’s visit to Vietnam. According to the Russian expert, the cooperation in the field of military technology and energy, particularly oil and gas development projects, plays an important role in the bilateral relationship and is always a key topic at working sessions between the two countries' politicians. The Independent newspaper said Lavrov's Asia tour shows that Russia is reorienting its political and diplomatic resources with … [Read more...] about Vietnamese studies expert highlights Vietnam’s role in Russia – Southeast Asia ties
HSBC upgrades Vietnam’s growth forecast to 6.9%
Vietnam's economy is predicted to grow by 6.9% this year, according to the latest Vietnam At A Glance report by HSBC. (Photo: VNA) HCM City (VNA) – HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region. In the Vietnam At A Glance report in July, HSBC Global Research noted that decreasing risks posed by the Omicron variant and eased restrictions have paved the way for Vietnam to return to the normality. Thanks to widespread recovery, the country recorded an impressive GDP growth rate of 7.7% in the second quarter compared to the same period last year. The service sector, which has suffered from severe economic impacts, have bounced back strongly while manufacturing has continued growing and exports hit historic highs. However, the growth forecast for 2023 was revised down to 6.3% from 6.7% due to growing risks, especially in the energy sector, according to the … [Read more...] about HSBC upgrades Vietnam’s growth forecast to 6.9%
