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With the coronavirus sweeping through China and its neighbouring countries like Vietnam, it is not only the spread of the dangerous virus that worries many people, but how it threatens economic growth prospects. In the 2002-2003 period, the widespread severe acute respiratory syndrome that originated in China killed some 800 people. Known as SARS, it decelerated the Chinese economy, slashing its annual growth rate to just over 9 per cent in the second quarter of 2003, from 11 per cent from the previous one, before eventually ending in June that year. … [Read more...] about BUSINESS NEWS HEADLINES FEB. 21

“Leveraging IFC’s global experience in responding to several economic crises in the past, the decision to increase trade limits is an effort to ensure continued trade flows during this challenging phase. The expanded trade finance line will help mitigate trade finance risks, thus softening the impact of COVID-19 on the Vietnamese economy and the private sector,” said Mehmet Mumcuoglu, IFC Financial Institutions Group Manager for East Asia and the Pacific. … [Read more...] about IFC increases trade finance limits to support Vietnamese businesses amid Covid-19

The programme primarily focuses on individual investors who are considering buying or investing in real estate. Through the programme, they will know exactly when to buy or sell properties, which projects they should buy and how to invest, as well as being encouraged to invest through information provided by the programme. I think this is an way to stimulate trading quality, volume and transparency. … [Read more...] about Rolling out an in-depth and multi-dimensional real estate news channel in Vietnam

HCM City (VNA) – Ho Chi Minh City is willing to create favourable conditions for foreign businesses, including those from Kazakhstan, to land investment in the southern hub, Chairman of the municipal People’s Committee Nguyen Thanh Phong said on February 20. Hosting a reception for newly-accredited Kazakhstani Ambassador to Vientam Yerlan Baizhanov on the day, Phong said he rejoiced at the fruitful relations between the two countries in the past time. However, bilateral cooperation as well as collaboration between HCM City and Kazakhstani localities still lag behind their potential, with the expiration of the Memorandum of Understanding on HCM City – Almaty city cooperation in 2016, he said. Besides, he informed the guest of the city’s socio-economic development, and its formidable challenges during the process such as environmental pollution and poor infrastructure that fails to meet the population growth. To this end, Phong expressed his hope that the … [Read more...] about HCM City rolls out red carpet for Kazakhstani investors

The most outstanding feature of corporate income tax incentives for industries and key sectors during Industry 4.0 is the preferential corporate income tax rate (10 per cent for 15 years from the first year of income generation, exemptions for four years, and 50 per cent reductions for nine subsequent years from the time taxable income is earned). … [Read more...] about Hurdles to surmount in smart manufacturing