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VABA asks relevant authorities to study and adjust the domestic ceiling price bracket for airlines to promote the recovery of the industry. — Photo a family.vn The president of the Viet Nam Aviation Business Association (VABA) has proposed to adjust the ceiling fare for domestic airlines to promote the industry's recovery. At a national conference between the Prime Minister and businesses last week, VABA's chairman Pham Viet Dung said: "Viet Nam's aviation market is growing rapidly on the recovery trend but not evenly in all segments." The domestic market has fully recovered compared to before the pandemic. In contrast, the international market has recovered very slowly, said Dung, mentioning domestic passenger transport increased by 12 per cent compared to 2019, global freight increased, but household goods decreased. However, revenue was disproportionate due to increased fuel prices and some input prices, airlines still suffered losses, and liquidity did not improve much, … [Read more...] about VABA proposal raising domestic airfare ceiling

ESG is a set of standards to measure factors related to sustainable development and the impact of businesses on the community, which consumers are paying more attention to. They want their shopping and consumption habits to leave the smallest environmental footprint possible. Not only consumers, global investors are also placing emphasis on ESG. This trend is even more pronounced after the Covid-19 pandemic. According to a PWC's report, investors increasingly want to hear more from companies about their ESG-related commitments with 83 percent surveyed saying it is important that reports provide detailed information about progress toward ESG goals. In Vietnam, the government has been taking important initial steps to catch up with the global trend. The Resolution of the 13th National Party Congress has determined the development plan for the 2021-2030 period, emphasizing the goal of ensuring social and human security, and managing resources effectively and sustainably. On Feb. 8, … [Read more...] about Businesses accelerate ESG strategy

Visitors at the 20th International Medical, Hospital & Pharmaceutical Exhibition that opened on Thursday in HCM City. — VNA/VNS Photo The Vietnamese medical devices market, which is growing annually at more than 18 per cent, relies heavily on imports, representing significant opportunities for foreign businesses, according to the HCM City Medical Equipment Association. The market is now worth US$1.5 billion, up from US$1.1 billion in 2017, Hua Phu Doan, deputy chairman of the association, said. Domestic medical devices manufacturers make mostly basic stuff and meet only 10 per cent of demand while the remaining 90 per cent is imported, he told a meeting held recently in HCM City. The number of foreign manufacturers in Viet Nam remains modest due to the lack of development of supporting industries and the absence of an industrial cluster in this sector, he said. Foreign investment in the production of medical devices is vital to reduce reliance on imports and facilitate … [Read more...] about Viet Nam seeks foreign investment in medical devices production

Economists and analysts said they believe Chinese authorities are keen to support the sluggish economy by allowing a widening policy divergence with other major economies that are raising interest rates aggressively. The People's Bank of China (PBOC) said it was lowering the rate on 400 billion yuan ($59.33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points (bps) to 2.75%, from 2.85%. In a poll of 32 market watchers last week, all respondents had forecast the MLF rate would be left unchanged and 29 had predicted there would be a partial rollover. "The rate cut surprises us," said Xing Zhaopeng, senior China strategist at ANZ. "It should be a response to the weak credit data on Friday. The government remains cautious about growth and will not let go." New bank lending in China tumbled more than expected in July while broad credit growth slowed, as fresh Covid flare-ups, worries about jobs and a deepening property … [Read more...] about China unexpectedly cuts 2 key rates, withdraws cash from banking system