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Vietcombank's headquarters in Ha Noi. The problem of bad debt with small- and medium-sized enterprises becomes more serious when their cash flows are interrupted and unstable, leading to insolvency. — VNA/VNS Photo Tran Viet Bad debts may climb by the end of the year as the pandemic has interrupted the production of many enterprises and they had no revenue to repay debts. Experts proposed the Government and the State Bank of Viet Nam (SBV) extend policies to continue to support businesses. Hoang Van Vinh, chairman of the Nha Trang – Khanh Hoa Tourism Association, said tourism businesses in the province are on the verge of bankruptcy with 95 per cent of hotels closed and less than 5 per cent registering to operate as quarantine facilities. “We want banks to support the businesses directly affected by the pandemic to access interest-free loans,” Vinh told the seminar “Bad debts amid the COVID-19 pandemic – Solutions to support the banking industry and the business community” on … [Read more...] about Solutions proposed to handle bad debts amid COVID-19 pandemic

Additional 88 domestically-transmitted COVID-19 cases reported Vietnam logged 97 new COVID-19 cases, including 88 domestic and nine imported, in the past six hours to 6pm on June 22, the Ministry of Health (MoH) said. Most of the new cases were detected in Ho Chi Minh City, with 63 infections, and the remainders were discovered in Bac Giang (12), Bac Ninh (6), Hung Yen (2), Nghe An (1) and Hanoi (1). By 6pm on June 22, the country had recorded a total of 12,010 domestically-transmitted infections and 1,717 imported cases. The number of locally-transmitted cases since the fourth COVID-19 wave hit Vietnam on April 27 amounted to 10,875, including 2,772 recoveries. According to the MoH’s Medical Service Administration, 5,546 patients have given the all-clear from coronavirus SARS-CoV-2 to date, while the death toll related to the disease was 69. Among active patients undergoing treatment, 377 have tested negative to the virus once, 132 twice and 141 thrice./. 12-hour … [Read more...] about VIETNAM NEWS HEADLINES JUNE 22

A lever for development Given global integration and strong development of the 4th Industrial Revolution, science, technology and innovation have become the most important input factors of modern productive forces that have a decisive influence on the quality and growth rates of economies. In Vietnam, along with education and training, the Party and State attach importance to the role of science and technology as the leading national policy and driving force for socioeconomic development and national defense. In recent years, the legal system has been updated to serve economic growth in accordance with the development context of the country and its new-generation free trade agreements, focusing on perfecting investment and financial mechanisms, non-state budget mobilization for science and technology, and attracting qualified staff, especially Vietnamese scientists from abroad and foreigners in Vietnam. The contribution of science and technology is significant to … [Read more...] about Science, technology, innovation: The foundation of Vietnam’s development