The Vietnamese representatives in the 2019 Forbes World's Billionaires list are seen in this screenshot Pham Nhat Vuong, chairman of multifaceted conglomerate Vingroup, ascended 260 spots on the list, from #499 in 2018 to #239, while Nguyen Thi Phuong Thao, CEO of budget airline Vietjet, dropped 242 places, from #766 to #1008. … [Read more...] about Five Vietnamese named in Forbes list of world’s richest people
Commercial bank hsbc
“We strongly believe Novaland is well-prepared not only to overcome this difficult situation with our tested experiences and advanced planning, but also to thoroughly take advantage of the opportunities presented to us during this challenging period. We will work more diligently and harder to retain the invaluable trust of our customers, partners and investors in Novaland, and successfully achieve our mission and vision,” Huy said. … [Read more...] about Novaland attractive to foreign investors, why?
At the beginning of this year, many experts said that the wood industry of Binh Duong Province would continue to make breakthroughs and might help the country’s wood export value to hit US$12.5 billion but the pandemic has hindered enterprises. Port closure in some countries has made production curtailed with many enterprises temporarily halting operations to wait for the pandemic to end to ensure the health and safety of their workers. According to the Chairman of the Binh Duong Furniture Association (BIFA), Mr. Dien Quang Hiep, the province has 1,600 enterprises operating in the wood industry, accounting for 40 percent of the total number of timber enterprises across the country. In January and February this year, the export value of enterprises posted growth but since the beginning of March to now, the Covid-19 outbreak has caused 30 percent of enterprises to temporarily pause their operations. Enterprises that received orders to export to the US, Denmark, and countries in … [Read more...] about Binh Duong wood industry strives to overcome difficulties
Of which, pangasius and tuna exports fell by more than 29 percent; squid and octopus exports plunged up to 31 percent; shrimp exports slid 15 percent. Export turnover to the EU market declined most with 40 percent, followed by the Chinese market with 25 percent, the Korean market with 24 percent, and the Japanese market with 19 percent. The seafood export turnover to the US market saw a smaller decrease as Vietnam still managed to keep the market share in the retail segment of fresh and canned products. Currently, many orders to the Middle East, Asia, or South America have also started to be stagnant, canceled, or suspended due to the Covid-19 pandemic, leading to high inventory. Meanwhile, enterprises also suffered many types of incurred costs, such as changing the route of the vessel, changing the port of arrival, and demurrage. At the same time, they also had to pay for anti-coronavirus products, including medical face masks, thermometers, and disinfectant solutions. In general, … [Read more...] about VASEP proposes support for export of seafood
The cut came as the country’s bank credit growth in the first quarter of this year was only 1.1 per cent, slowing significantly against the 2.28 per cent rate in the same period last year, with many firms scaling down their business due to the adverse impacts of the COVID-19 pandemic. … [Read more...] about COVID-19 pushes banks to lower deposit rates