New business start loan

This is the third time that VABA has made the since the beginning of 2020 when international and domestic travel restrictions due to the Covid-19 pandemic laid the industry low. It also wants the government to roll over airlines’ loans to the end of 2024 and reduce airport charges like landing fees. VABA wants the resumption of flights to places that have contained Covid-19 like Australia, India, China, South Korea, Japan, and Europe. It urged the Ministry of Transport to run programs to stimulate domestic tourism. Tran Bao Ngoc, head of the ministry’s transport department, agreed that the aviation industry needs support to come out of its slump, and promised to consider VABA’s demands and take up those outside its purview like rolling over loans with the government. Aviation was among the worst hit sectors in 2020. The number of air passengers declined by 43 percent to 66 million, while cargo transport was 15 percent down at 1.3 million tons. Landing and other ground services’ fees were reduced by 50 percent and those for some specialized aviation services were waived for six months from March to September. The environment protection tax on aviation fuel was reduced by 30 percent. The government also approved a bailout plan including refinancing and loan rollovers for Vietnam Airlines. …

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The northern Vietnamese city of Hai Phong has received the approval for the construction of two container terminals 5 and 6 in Lach Huyen Port. The project, approved by Deputy Prime Minister Trinh Dinh Dung, is invested with a total capital of more than VND6.4 trillion (US$277.5 million), including nearly VND6 trillion ($260.2 million) in the first phase from 2020 to 2025 and over VND352 billion ($15.26 million) in the second phase from 2030 and later. Fifteen percent of the total investment comes from HATECO Group, which is the investor and operator of the project, while loans and other legal mobilized capital sources account for 85 percent. The two container terminals will be built at Lach Huyen Port in the Dinh Vu-Cat Hai Economic Zone, Cat Hai District, Hai Phong City. They will have a total length of 750 meters and can receive ships with a capacity of up to 8,000 TEUs (twenty-foot equivalent unit). The project also includes a barge berth, which can accommodate container vessels and barges with a capacity of up to 48 TEUs, in addition to technical infrastructure and equipment, on a total area of about 47 hectares. Authorities in Hai Phong City are assigned to monitor and inspect the implementation of the project in accordance with regulations on construction investment, land, natural resources, and capital mobilization. The procedures of environmental impact assessment are required before the project is carried out. Other tax procedures and policies also have to be ensured. Like us on Facebook or follow us on Twitter to get the latest news about Vietnam! …

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Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the country is viewed as an alternative investment destinations for Japanese enterprises looking to move away from China due to the COVID-19 pandemic. The survey indicates that approximately half of Japanese enterprises in the nation plan to expand their production activities, while roughly 70% of them seek opportunities to increase revenue in the local market. Most notably, 46.8% of Japanese enterprises unveiled that they have initiated plans to expand their business in the nation over the course of the next two years, with the expansion rate ranking fourth, the highest in the Asia-Pacific region. Japanese enterprises have therefore attributed their expansion to an increase in revenue in the domestic market and high growth potential. Furthermore, Japanese firms are also considering re-establishing some supply chains which have been impacted by the COVID-19 pandemic, with Vietnam able to capture the attention of suppliers and buyers of materials globally. VN-Index finishes lower as …

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