Businesses

“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 BUSINESS NEWS HEADLINES FEB. 27

Ngan Hoang, who owns a spa in HCMC’s District 1, has decided to close her business for 45 days, with infection fears keeping most customers away. But neither she nor her employees will be idle during the long break. She plans to innovate and expand her spa. … [Read more...] about Businesses adopt survival tactics amid epidemic

As a means of allowing firms to minimise risk whilst increasing indirect exports, the MoIT has devised a range of flexible solutions with leaders working alongside large distribution groups based domestically, in addition to large e-commerce systems in a bid to diversify export channels for local products. … [Read more...] about Businesses urged to shift from direct to indirect exports

The second point matters a great deal – governments have the ability to improve or worsen economic outcomes. They have a fine line to walk in trying to protect citizen health while also supporting the economy. At the extreme end, governments could decide to order mandatory quarantine on all citizens (or nearly all citizens, as essential personnel would still be needed to manage cases at clinics and hospitals and to enforce the quarantine). This would effectively shut down the entire economy. … [Read more...] about Business upheaval may be required after 2020 events

Ninh Thuan (VNA) – The central province of Ninh Thuan is taking measures to solve difficulties in sending workers abroad amid the novel coronavirus (SARS-CoV-2) outbreak. This year, the province has set a target of sending 150 workers overseas. Tran Van Trua, deputy head of the provincial Department of Labour, Sports and Tourism, said most workers opted for Malaysia, the Republic of Korea, Japan, and several Middle East countries, However, the disease outbreak and security uncertainties in the Middle East are making the goal difficult to achieve. To address the issue, the department is planning to contact domestic businesses with high recruitment demands so that workers can find jobs in other provinces and cities. Efforts are also made to inform people about the labour market and manage those who go overseas to work under legal contracts to prevent fraud and protect labourers’ interests. Last year, Ninh Thuan had 210 labourers working in several nations and … [Read more...] about Ninh Thuan removes employment difficulties