Vietnam economy news

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

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

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

If approved, the loans will be given to people from poor and near-poor households so they can meet their needs in buying food, daily-life items, medical examinations and treatment, and means of transportation. Deputy Director of Ho Chi Minh City Bank for Social Policy Bui Van Son said that, at the end of August, the municipal Bank for Social Policy sent an official dispatch to the local Department of Labour - Invalids and Social Affairs asking the department to advise and submit to the HCM City People's Committee a package of interest-free consumer support loans for citizens. Specifically, the program is expected to be implemented in the fourth quarter of 2021 and the first quarter of 2022. However, there has been no response. In 2022, the HCM City Bank for Social Policies said it will continue to pursue this recommendation. If approved, the loans will be given to people from poor and near-poor households so they can meet their needs in buying food, daily-life items, medical … [Read more...] about HCM City proposes 0% interest loan package for the poor

Huawei Vietnam received a certificate of merit for enterprises with an outstanding business culture. — Photo courtesy of the firm Huawei Vietnam Technology Co Ltd has received a certificate of merit for enterprises with an outstanding business culture that contribute to the “Building the Vietnamese business culture”, a campaign launched by the Prime Minister Pham Minh Chinh. The award was presented at the annual National Forum on Culture and Business Forum (CBF) themed “Acculturation - Foundation for sustainable recovery and development”. Speaking at the event, Minister of Culture, Sports and Tourism Nguyen Van Hung said: “Building corporate culture is building competitive advantages, commercial advantages, and Vietnamese cultural identity in the field of the global economy. That aim can only be achieved when the business community develops harmoniously on economic, cultural, social, and environmental pillars in which culture is the core factor and the guiding foundation for … [Read more...] about Huawei honoured for positive contribution in “Building the Vietnamese business culture”

A locked down area in Nguyễn Du Ward, Hai Bà Trưng District, Hà Nội. — VNA/VNS Photo Tuấn Anh HÀ NỘI — Việt Nam’s coronavirus caseload continues to rise, with 13,840 new infections announced on Tuesday, along with 217 deaths. The national tally now stands at 1,337,523 transmissions, of which 1,332,216 came in the fourth wave of infections that has swept the country since late April. HCM City had the highest number of new cases at 965, followed by Cần Thơ City with 898 and Tây Ninh at 869. The capital Hà Nội reported 737 new infections. The remaining cases were detected in Sóc Trăng (746), Đồng Tháp (697), Bình Dương (645), Bình Phước (640), Cà Mau (615), Vĩnh Long (529), Bà Rịa - Vũng Tàu (491), Khánh Hòa (486), Bến Tre (441), Bạc Liêu (434), Tiền Giang (340), An Giang (325), Thừa Thiên Huế (306), Hậu Giang (293), Bình Định (281), Đồng Nai (272), Trà Vinh (254), Kiên Giang (229), Bắc Ninh (190), Nghệ An (179), Gia Lai (178), Bình Thuận (170), Hải Phòng (156), Đà Nẵng (141), … [Read more...] about Việt Nam reports 13,840 new COVID-19 cases on Tuesday