Advertisements Experts have said that once the coronavirus (Covid-19) pandemic ends, higher market demand would support many sectors in quickly resuming their business. Economic expert Nguyễn Đức Thành said after the COVID-19 pandemic, the most heavily affected industries will recover soon, excluding the transport and aviation industries. The two industries would gradually gain growth again.Continue reading “Many businesses in Vietnam expected to recover quickly once coronavirus wanes”
Tag Archives: Business
Auto firm Thaco reported its first revenues from agriculture
Advertisements Auto firm Thaco has reported its first revenues from agriculture, in which it has invested hundreds of millions of dollars. Income from the farm last year was VND1.5 trillion ($64 million), the company said in its recent financial report, adding that agriculture accounted for 3 percent of its revenues and a loss of VND15Continue reading “Auto firm Thaco reported its first revenues from agriculture”
Nearly 35,000 companies and small businesses stop operations in Q1
Advertisements The number of businesses which stopped operation in Viet Nam hit a record number of nearly 35,000 in the first quarter of this year, according to the Việt Nam Chamber of Commerce and Industry (VCCI). According to a VCCI survey, the COVID-19 pandemic was the main reason for the closures, marking the first timeContinue reading “Nearly 35,000 companies and small businesses stop operations in Q1”
Business Opportunities Around the Coronavirus Pandemic
Advertisements From innovating new products out of unsold export items to reconnecting with domestic suppliers, Vietnamese businesses are finding silver linings amid the coronavirus cloud. A demand slump caused by the novel coronavirus was the catalyst for HCMC-based ABC Bakery’s newest invention, the dragon fruit bread, Kao Sieu Luc, its owner, said at a recentContinue reading “Business Opportunities Around the Coronavirus Pandemic”
Which businesses will stay open during national social distancing?
Advertisements According to a directive from the Prime Minister, social distancing will be applied nationwide for 15 days starting from April 1, in an attempt to contain the spread of coronavirus, and only factories, businesses and service establishments producing and providing essential goods and services are allowed to remain open. Here are some businesses whichContinue reading “Which businesses will stay open during national social distancing?”
HEINEKEN announces new regional president for Asia-Pacific, managing director in Vietnam
Advertisements Heineken N.V. has just announced large-scale changes to its management line-up, bumping up key personnel in Vietnam and the larger region, with the appointment of Jacco van der Linden as president for the Asia-Pacific region and Soren Hagh as president for the Europe region, effective from June 1, 2020, adding them to the group’sContinue reading “HEINEKEN announces new regional president for Asia-Pacific, managing director in Vietnam”
Vietnam textile companies struggle as EU, US buyers cancel orders
Advertisements Vietnam garment makers are struggling as EU and US buyers cancel orders over the Covid-19 crisis. Revenue falls and staff cuts loom. A French company recently canceled orders it had placed with garment maker TNG in the northern province of Thai Nguyen over the spread of the novel coronavirus in France. Nguyen Van Thoi,Continue reading “Vietnam textile companies struggle as EU, US buyers cancel orders”
Numerous enterprises allow staff to work from home amid worsening Covid-19
Advertisements Many companies in Vietnam have permitted their staff to work from home to limit the risk of Covid-19 infection. Tran Thi Nhu Quynh, 26, who works for a communications company in Cau Giay District said that up to 70% of her firm’s staff could work from home, except for technical workers. The company’s managerContinue reading “Numerous enterprises allow staff to work from home amid worsening Covid-19”
Tax reductions proposed for HCM City enterprises
Advertisements HCM City authorities are seeking Prime Minister Nguyen Xuan Phuc’s approval for extending tax payments and slashing different kinds of taxes for local businesses amid the worsening Covid-19 epidemic. Under the HCM City People’s Committee’s proposal, tax payment deadlines should be extended to the third or fourth quarter of this year for companies inContinue reading “Tax reductions proposed for HCM City enterprises”
Food delivery services flourish during COVID-19 in Vietnam
Advertisements While the majority of businesses shamble in the shadow of the novel coronavirus disease (COVID-19) epidemic in Vietnam, food delivery services are on a roll. As more Ho Chi Minh City residents confine themselves to their homes over COVID-19 fear, food stalls and restaurants in downtown areas remain packed with customers, most of whomContinue reading “Food delivery services flourish during COVID-19 in Vietnam”
Vietnam exports processed chicken to Russia
Advertisements A chicken processing factory in Chuong My district, Hanoi, has become the first business in Vietnam to be licensed to export processed chicken products to Russia. The Department of Animal Health under the Ministry of Agriculture and Rural Development on March 8 said the Russian animal and phytosanitary quarantine agency had sent an officialContinue reading “Vietnam exports processed chicken to Russia”
South Korea hopes Vietnam will not quarantine Samsung experts
Advertisements The South Korean envoy has expressed concern Samsung may suffer huge losses if 1,000 South Korean experts are isolated upon arrival in Vietnam. “If experts and engineers of Samsung Electronics enter Vietnam and are placed in quarantine for 14 days, this giant can suffer great damage,” Ambassador Park Noh-wan told reporters in Hanoi Friday.Continue reading “South Korea hopes Vietnam will not quarantine Samsung experts”
Rents plummet amid coronavirus epidemic
Advertisements With businesses reporting dwindling revenues due to the coronavirus epidemic, landlords are cutting their rents by up to 40 percent. Hung Thinh Corporation in Ho Chi Minh City recently announced a 20-40 percent reduction in rents at its two malls in HCMC and one in the southern port town of Vung Tau. Its chairman,Continue reading “Rents plummet amid coronavirus epidemic”
Mid-sized banks spearhead VN-Index gain
Advertisements The VN-Index added 0.25 percent to 884.43 points Monday, with stocks of mid-sized lenders among the biggest gainers. 167 stocks rose and 172 stocks fell on the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse, on which the VN-Index is based. Monday’s session follows a particularly poor week when the novel coronavirus-induced selloffsContinue reading “Mid-sized banks spearhead VN-Index gain”
Vietnam’s businesses complain of more difficulties as coronavirus spreads outside China
Advertisements The coronavirus epidemic is disrupting supply chains and hampering demand for businesses that source from or sell to countries like Japan and South Korea. Duy Tan Plastics had assessed that the novel coronavirus (Covid-19) epidemic would not affect it too much when it broke out in China, but is now facing difficulties after itContinue reading “Vietnam’s businesses complain of more difficulties as coronavirus spreads outside China”