Consecutive period of increasing or decreasing economic activity

Seafood processing for export to the US market. (Photo: SGGP) If this recovery pace continues, the economic status of the city for the last 6 months this year is truly promising, turning completely back to the time before the Covid-19 outbreak. This means the estimated growth rate of 6-7 percent for 2022 compared to 2019 and 2020 can be fulfilled. Experts in the field, however, have always raised the question whether it is possible to reach a higher goal when may supporting policies are in effect. Statistics from the aspects of public investment, public resource mobilization, construction, and real estates reveal a decrease of 10 percent compared to this time previous years, meaning certain ineffectiveness in addressing existing economic issues. In addition, the administrative reform has been initiated but the results are not as expected when HCMC is only in the average group. This has asked for a long-term campaign to create good habits in public services. In the next 6 … [Read more...] about HCMC enjoying great achievements in economic recovery

Ha Nam Textile Company in Phu Ly, Ha Nam. Enterprises are encountering a number of difficulties after the COVID-19 pandemic and needed support to promote business and production recovery. — VNA/VNS Photo Tran Viet The Ministry of Planning and Investment will propose policies to remove obstacles for enterprises and enable them to seize opportunities to accelerate production and business, Minister Nguyen Chi Dung said. Dung promised at a meeting on Monday to listen to the difficulties of enterprises and raise solutions for the second half of this year, saying it was important to identify advantages and opportunities, as well as challenges, to raise policies to support enterprises and enable them to participate and not miss any chances. Enterprises are encountering a number of difficulties after the COVID-19 pandemic which has heavily socio-economic activities hard during the past two years. Labour shortages are one of the most common challenges facing industries. According to … [Read more...] about Ministry listens to firms’ difficulties, pledges to raise support

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero Covid" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero Covid" strategy, which forced many factories there temporarily stop production to fight the pandemic. The import-export activities in the neighboring country were affected a lot by the shortage of containers at ports. Phan Thi Thanh Xuan, Vice … [Read more...] about Local enterprises lack materials due to China’s ‘Zero Covid’ policy

VASEP proposed practical solutions to decrease logistics cost in the near future Chairman of Vietnam Tourism Association Vu The Binh stated that to promote the recovery of this industry in the near future, there must be new interesting tour packages to attract international tourists, along with favorable conditions to welcome them to Vietnam. He proposed a working session between the tourism and aviation industries to introduce the most reasonable prices for these new packages. Deputy General Secretary of Vietnam Association of Seafood Exporters and Producers Nguyen Hoai Nam shared that the high fuel prices have created pressure on many businesses, and many fishermen have stopped their work. He suggested some solutions to reduce logistics cost, including digital transformation among member businesses, which was wholeheartedly welcomed by Minister Dung with the promise to support any needy enterprises in order to increase their competitiveness. Vice Chairwoman of Vietnam … [Read more...] about Vietnam collecting feasible solutions to boost production, trading, investment

Processing and manufacturing are among the industries that attracted the most projects of foreign investment in Việt Nam. — Photo congthuong.vn HÀ NỘI — Việt Nam reached more than US$14 billion in foreign direct investment (FDI) in the first six months of 2022, announced the Ministry of Planning and Investment (MPI). MPI’s data showed that as of June 20, 2022, the total newly registered capital, adjusted and contributed capital to buy shares, buy contributed capital of foreign investors reached $14.03 billion, as much as 91.1 per cent over the same period in 2021. Of which, 752 new projects were granted investment registration certificates, down 6.5 per cent compared to the same period, with a total registered capital of over $4.94 billion, down 48.2 per cent over the same period. In addition, there were 487 projects registering to adjust their investment capital, up 5.9 per cent over the same period, with the total additional registered capital reaching nearly $6.82 … [Read more...] about Việt Nam attracts more than $14 billion of FDI in H1

Processing and manufacturing are among the industries that attracted the most projects of foreign investment in Viet Nam. — Photo congthuong.vn Viet Nam reached more than US$14 billion in foreign direct investment (FDI) in the first six months of 2022, announced the Ministry of Planning and Investment (MPI). MPI’s data showed that as of June 20, 2022, the total newly registered capital, adjusted and contributed capital to buy shares, buy contributed capital of foreign investors reached $14.03 billion, as much as 91.1 per cent over the same period in 2021. Of which, 752 new projects were granted investment registration certificates, down 6.5 per cent compared to the same period, with a total registered capital of over $4.94 billion, down 48.2 per cent over the same period. In addition, there were 487 projects registering to adjust their investment capital, up 5.9 per cent over the same period, with the total additional registered capital reaching nearly $6.82 billion, up 65.6 … [Read more...] about Viet Nam attracts more than $14 billion of FDI in H1

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Vietnam reached more than 14 billion USD in foreign direct investment ( FDI ) in the first six months of 2022, announced the Ministry of Planning and Investment (MPI). The ministry’s data showed that as of June 20, 2022, the total newly registered capital, adjusted and contributed capital to buy shares, buy contributed capital of foreign investors reached 14.03 billion USD, as much as 91.1% over the same period in 2021. Of which, 752 new projects were granted investment registration certificates, down 6.5% compared to the same period, with a total registered capital of over 4.94 billion USD, down 48.2% over the same period. In addition, there were 487 projects registering to adjust their investment capital, up 5.9% over the same period, with the total additional registered capital reaching nearly 6.82 billion USD, up 65.6% compared to the same period last year. There were also 1,707 capital contributions and share … [Read more...] about Vietnam attracts more than 14 billion USD of FDI in H1

Inside a wood production line of Truong Thanh Furniture Corporation. — Photo truongthanh.com As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2 per cent year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90 per cent capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65 per cent. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: PTB) … [Read more...] about Rising costs cast doubt on wood companies growth prospects

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

COVID-19 testing (Photo: VNA) Hanoi (VNA) – The Ministry of Health has proposed considering COVID-19 a Group A infectious disease , not an endemic disease in its latest draft on COVID-19 prevention and control measures in the new situation. Per the draft, Vietnam is still in the transition period between pandemic prevention and sustainable management. Regarding the reason why COVID-19 has not been considered an endemic disease in Vietnam yet, the Ministry of Health said that most countries in the world are in a state of unstable cases and deaths, with an erratic increase and decrease trend when new variants of the SARS-CoV-2 virus appear. At the same time, acquired immunity (due to vaccines and infection) has not been stable for a long time and decreases over time. As a result, the application of epidemic prevention and control measures should be flexible and gradually moves towards the "new normal". The announcement of the end of the COVID-19 pandemic in … [Read more...] about Health Ministry yet to consider COVID-19 endemic disease