Vietnms airline industry

A COVID-19 vaccination site in Hanoi (Photo: VNA) Tokyo (VNA) - The Executive Board of the International Monetary Fund (IMF) has highly valued Vietnam’s policy support to cushion the impact of COVID-19 in tandem with successful maintenance of fiscal, external, and financial stability and an impressive vaccination rollout. In a press release following a recent consultation with Vietnam, the IMF Executive Board said a recovery is underway and high frequency indicators point to stronger momentum going into 2022, with rising retail sales, industrial production, and firm entry. Growth is expected to reach 6% in 2022 as activity normalisation continues and the programme for recovery and development is implemented. However, the recovery of the labour market is lagging as underemployment remains high. While inflation has recently picked up due to rising commodity prices and supply-chain disruptions, it remains well below the central bank’s inflation ceiling. The Executive Board … [Read more...] about IMF hails Vietnam’s moves to cushion COVID-19 impacts

The Group of 20 includes Western countries that have accused Moscow of war crimes in Ukraine and rolled out sanctions, but also countries like China, Indonesia, India and South Africa that have not followed suit. The gathering will be the first time that foreign ministers from some of the world's top economies meet Russian Foreign Minister Sergei Lavrov since Russia attacked Ukraine in February. Speaking ahead of the G20 meeting that runs from Thursday to Friday, German foreign ministry spokesperson Christian Wagner said it would not be a "normal summit" nor "business as usual". Germany holds the presidency of the Group of Seven industrialized nations and would coordinate in Bali over how to respond to Lavrov in light of the war in Ukraine, he said. Top officials from Britain, Canada and the United States walked out on Russian representatives during a G20 finance meeting in Washington in April. U.S. Secretary of State Antony Blinken would be an active participant at the … [Read more...] about Not ‘business as usual’ for G20 foreign ministers meeting in Bali

Illustrative image (Photo: SGGP) Under the proposal, the Ministry of Transport proposed a reduction of road use fee of 30 percent for passenger transport business vehicles and road toll charges of ten percent for commercial vehicles transporting goods; 20 percent for domestic transportation in the marine sector, including tonnage fees, marine guarantee fees, and entrance and departure fees. In addition, the Ministry of Transport has suggested a reduction of 20 percent of airline service fees, consisting of fees for the grant of certificates and licenses related to civil aviation activities, permission to access airport restricted areas, fees for aircraft guarantee transactions The railway sector is expected to enjoy a fee reduction of 50 percent in using railway infrastructure while the inland water transportation area will get a 50 percent cut of fees for departure and entrance of ports; inland waterway reporting fees. By Bich Quyen – Translated by Kim Khanh … [Read more...] about Transport Ministry proposes fee reduction for different modes of transportation

Office workers withdraw money from an ATM. (Photo: VNA) In particular, workers in the processing - manufacturing industry had average income of VND7.3 million, rising by some VND476,000 year on year, while salary earners saw an increase of VND417,000 in their monthly income to VND7.4 million Pham Hoai Nam, Director of the Population and Labor Statistics Department under the General Statistics Office, told a press meeting in Hanoi on July 6. In the second quarter, all the 21 economic sectors recorded year-on-year hikes in workers’ average income, including mining (VND9.7 million, up 17.1 percent) and processing - manufacturing (VND7.4 million up 12.4 percent). He said during 2019 - 2021, workers’ income in Q2 often declined from the previous quarter since additional earnings coming from year-end extra work and Lunar New Year bonuses are usually paid in Q1. However, the situation was different this year, when the Q2 average income did not decrease but went up both quarter on … [Read more...] about Workers’ average monthly income grows 5.3 percent in H1

He made the suggestion at a meeting with the association’s representatives on July 5 on the occasion of its 40th founding anniversary. Highlighting the importance of the construction sector to the national economy, the President required the VFCEA to advise the Party and the State on issues relating to development strategies such as housing, urban areas, industrial parks, socio-economic infrastructure, architectural planning, including related institutions and legal documents. He also asked the association to involve in fighting corruption and wastefulness in construction. The President proposed that the Government create favorable conditions for the VFCEA’s operation, and the Ministry of Construction facilitate the association's participation in research and discussions related to the management of planning, construction and infrastructure development of industrial parks, urban areas, workers' housing and new rural areas as well as perfecting legal institutions related to the … [Read more...] about Construction sector should enhance consulting quality: President

Part of the Vietnam - Singapore Industrial Park in Hai Phong city (Photo: VNA) Hai Phong (VNA) – For the last half of 2022, Hai Phong city will apply itself to flexibly and effectively fighting COVID-19 and shoring up business and investment activities so as to attract more foreign direct investment ( FDI ), a local official has said. Nearly 1.1 billion USD of FDI was poured into the northern port city in the first six months, falling by over 11% from a year earlier and equivalent to almost 44% of this year’s target. FDI inflows are expected to stand at 0.85 billion USD in the third quarter and 0.85 - 1.1 billion USD in the fourth quarter. Le Trung Kien, head of the Hai Phong Economic Zone Authority , said the city looks to surpass this year’s FDI attraction target of 2.5 billion USD. To that end, the authority will boost investment promotion and attraction for the three pillars of economic development, namely high-tech industry, seaports - logistics, and … [Read more...] about Hai Phong striving to attract over 2.5 billion USD in FDI this year