Vingroup is a conglomerate with the country’s largest real estate operations and interests in retail, healthcare, education, automobiles, smartphones and electronics. Run by the country’s first billionaire, Pham Nhat Vuong, it has reported a market cap of $12.2 billion as of mid-March, down 22.9 percent from last January, the report said. … [Read more...] about Vingroup only Vietnamese representative among world’s top 750 family businesses
Samsung’s mobile phones and phone parts are getting more sophisticated and smaller, which change every six months. It is a challenge for Vietnamese enterprises to renovate production lines and technologies, which requires huge capital. “If Vietnamese vendors can provide products with quality, meeting requirements, and at stable reasonable prices, there won’t be a reason for Samsung to refuse to buy products from them,” he said. … [Read more...] about How do VN businesses join the global supply chain?
Hanoi (VNA) - As of July, businesses nationwide owed social insurance premiums totalling over 20.6 trillion VND (887.6 million USD) due to the coronavirus crisis, according to Vietnam Social Insurance (VSI). To remove the difficulties facing affected enterprises, VSI has directed the suspension of contributions to the retirement and survivorship funds of social insurance programmes in cities and provinces. As a result, as at June, nearly 1,520 businesses had been approved to suspend such contributions. VSI also issued a document in August guiding social insurance agencies in localities on the suspension of contributions to December. According to Deputy Director of VSI Tran Dinh Lieu, more than 15.2 million people joined social insurance in the January-July period. Over 12.7 million people had unemployment insurance, and more than 85.9 million health insurance, or 88.8 percent of the population. The number of people taking part in compulsory social insurance, health insurance, and … [Read more...] about Businesses owe nearly 900 million USD in social insurance premiums because of COVID-19
“Golden” streets no longer sought More than three months after social distancing, the busiest streets of Hanoi still have not regained their bubbling energy and crowds of before. Rolling with the impact of the COVID-19 pandemic, many shops in Hanoi’s Old Quarter on Hang Gai, Hang Bong, Hang Ngang, Hang Bac, Hang Ma, and Luong Van Can streets are standing bereft of customers and vital revenue. Many store keepers were forced to take off signs while others temporarily pulled down their curtains or put up the premises for lease. … [Read more...] about Curtains roll down at business hotspots as uncertainty looms
Total retail sales of goods and services in the first seven months of this year decreased by 0.4 per cent year-on-year, but revenue increased by 3.6 per cent, ensuring the essential needs of people and the supply of raw materials, fuel, machinery, equipment and goods to maintain production and business for domestic market and exports as well. … [Read more...] about Domestic market supports businesses amid COVID-19 pandemic