Debts

Illustrative image (Photo: AFP/VNA) Bangkok (VNA) - Thailand has increased the ceiling of its public debt-to-gross domestic product (GDP) ratio to 70 percent from 60 percent, allowing the government to raise more funds to help a struggling economy. The decision was made by the State Monetary and Fiscal Policy Committee chaired by Prime Minister Prayut Chan-o-cha on September 20. The Southeast Asian country is dealing with its biggest COVID-19 outbreak to date and stricter containment measures have hit economic activities although some have been eased from this month. Last year, the government issued its first emergency loan decree last year to authorise it to borrow 1 trillion THB to fund its stimulus schemes to combat the pandemic. A second decree was issued this year to allow the government to borrow an additional 500 billion THB. Last month, Bank of Thailand Governor Sethaput Suthiwartnarueput said the country would need a further 1 trillion THB in fiscal measures to …

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A Vietjet Air plane (Photo: Vietjet Air) Hanoi (VNA) - Vietjet Aviation Joint Stock Company (HOSE: VJC) has released its half-year audited financial statements for 2021, which saw a bigger post-tax profit of the parent company over its compiled reports. According to the financial statement s audited by PwC, Vietjet as a parent company had its transport revenue reaching 5,022 billion VND (approx. 220 million USD) for the first six months of this year. Its profit after tax was reported at 34.2 billion VND (approx. 1.5 million USD), a year-on-year leap of 102 percent thanks to profits gained from new project investments. The airline’s audited after-tax profit has also increased by 148 percent compared to that in its compiled reports. Vietjet posted its consolidated revenue at 7,556 billion VND (approx. 332 million USD) while the consolidated profit after tax reached 121.8 billion VND (approx. 5.3 million USD), showing a remarkable year-on-year growth of 161 percent. …

[Read more...] about Vietjet’s audited report confirms positive results in H1

Deputy Prime Minister Le Van Thanh. (Photo: VGP) The recommendation was raised at an online meeting chaired by Deputy Prime Minister Le Van Thanh with a number of localities to remove difficulties and obstacles for manufacturing enterprises in industrial parks and economic zones, export processing zones, high-tech zones and industrial clusters. According to the report by the Ministry of Planning and Investment (MPI), in the context of the complicated developments of the Covid-19 pandemic, industrial parks and industrial clusters have implemented plans to limit impacts on business operations. Production models were applied such as "3-on-site", "one route, two destinations", quick testing for workers to meet deadlines for orders, proactively seeking raw materials, cut operating costs, etc. However, the ministry said that in addition to attracting investment, businesses in industrial zones face many difficulties, when the global supply chain is interrupted, causing a shortage of …

[Read more...] about Ministry asks Government to reconsider ‘3-on-site’ production model

Imexpharm's high-tech pharmaceutical factory in Binh Duong. Photo: Imexpharm Corporation Imexpharm Corporation, a leading pharmaceutical enterprise specialising in the production and sale of modern pharmaceutical products, focusing on antibiotics, has just published its business report for August. Accordingly, Imexpharm's net revenue in the month reached VND93.8 billion ($4.08 million) with VND17.2 billion ($747,826) of pre-tax profit, respectively down 12 and 14 per cent on-year. Accumulated for the first eight months, net revenue was VND779.3 billion ($34.2 billion) andpre-tax profit was VND144.8 billion ($6.37 million), little much different from last year's figure. The company’s leaders stated revenue has been severely affected by social distancing and travel restrictions since July, resulting in a slight decrease in accumulated pre-tax profit for the first eight months. The proportion of over-the-counter (OTC) and ethical drugs (ETC) in August remained at 61 and 39 …

[Read more...] about Imexpharm Corporation reports dropping revenue during social distancing

Workers check bags of instant coffee at Trung Nguyên Co's factory in Bắc Giang Province. Building a stronger private sector is key to Việt Nam's economic transformation. — VNA/VNS Photo Danh Lam HÀ NỘI — As Việt Nam moves toward recovery, the development of a productive and diversified private sector will become more imperative given scarce public resources, international experts have recommended. Việt Nam has demonstrated leadership and swift action in containing the virus since it broke out in early 2020 which made it one of the few countries in the world to register positive growth last year. However, the latest wave of COVID-19 infections since July this year has dealt a severe blow to business and employment, mirroring the downward pressure on Việt Nam’s recovery path. To resume its ambition of realising a high-income growth trajectory by 2045, Việt Nam needs to strengthen private sector development to help the country recover from the …

[Read more...] about Productive and diversified private sector key to Việt Nam’s economic transformation

President Nguyễn Xuân Phúc delivers a speech at the general debate of the 76th session of the United Nations General Assembly. —VNA/VNS Photo NEW YORK — Vietnamese President Nguyễn Xuân Phúc delivered a statement at the general debate of the 76th session of the United Nations General Assembly (UNGA) in New York, the US, on Wednesday (local time). The following is the full text of the statement. Mr. President, I wish to extend my congratulations to Mr. Abdullah Shahid on the assumption of his duties as the President of the 76th UNGA. I am convinced that under his able leadership and with his vast experience, he will lead our session to success. I highly appreciate the significant contributions of Mr. Volkan Bozkir in his capacity as the President of the 75th UNGA. I also wish to, once again, congratulate Mr. Antonio Guterres on his re-election as the UN Secretary-General. I believe that, with his perseverance and dedication, he will work to realise the Organisation’s …

[Read more...] about President stresses cooperation, connectivity among nations in face of non-traditional security challenges

Workers check bags of instant coffee at Trung Nguyen Co's factory in Bac Giang Province. Building a stronger private sector is key to Viet Nam's economic transformation. — VNA/VNS Photo Danh Lam As Viet Nam moves toward recovery, the development of a productive and diversified private sector will become more imperative given scarce public resources, international experts have recommended. Viet Nam has demonstrated leadership and swift action in containing the virus since it broke out in early 2020 which made it one of the few countries in the world to register positive growth last year. However, the latest wave of COVID-19 infections since July this year has dealt a severe blow to business and employment, mirroring the downward pressure on Viet Nam’s recovery path. To resume its ambition of realising a high-income growth trajectory by 2045, Viet Nam needs to strengthen private sector development to help the country recover from the pandemic and unlock its potential, according …

[Read more...] about Productive and diversified private sector key to Viet Nam’s economic transformation