Post pandemic recovery

So far, the virus has spread across all ASEAN member states, with 74,310 confirmed cases and 2,324 fatalities as of May 22. In addition to the health crisis, the pandemic is also taking a toll by severely disrupting socio-economic activities, co-operation and exchanges in many fields, not to mention, between member states and among ASEAN and its external partners. The growth rate of all ASEAN members is predicted to sharply decline, and some ASEAN countries will suffer negative growth. Lockdowns, border closures, quarantines, travel restrictions, social distancing and temporary closure of business activities have been used across ASEAN to contain the virus, but the measures are also affecting all other areas, including ASEAN’s annual schedule. According to the ASEAN Secretariat, up to now, more than 200 ASEAN meetings have been postponed or cancelled. A lot of the expected plans of Việt Nam’s Chairmanship have been put on hold. … [Read more...] about Việt Nam helps ASEAN battle the COVID-19 pandemic

CBRE Vietnam said since the beginning of Q2, the firm has noticed an increase in desire to purchase hotels which are facing problems in cash flow. It also noted that there are no 4-5-star hotels up for sale. According to Son, who is also deputy chair of the Nha Trang – Khanh Hoa Tourism Association, only 10 percent of hotels in Nha Trang still is operational. … [Read more...] about Hotels become cheap enough to buy during COVID-19

Echoing this view, Pham Xuan Hoe, deputy director of the Banking Strategy Institute under the State Bank of Vietnam (SBV) also said that in fact, protecting legal finance firms is of the utmost importance. “Many still believe there are so-called predatory lenders, but actually some scammers also display predatory behaviours. Relevant authorities should develop a legal system enhancing transparency and enforceability such that providers and participants are aware of obligations.” … [Read more...] about Protecting investors at head of consumer finance concern

A Nikkei Asian Review report last week said Japan was gradually preparing to ease its entry restrictions on foreign visitors, with business travelers and researchers being the first to get the green light. Taiwan, Vietnam and some European countries where the Covid-19 crisis has been controlled will be considered for tourism resumption by the Japanese government, Nikkei said. … [Read more...] about Vietnam prepares to resume select international flights

President Macron - in his new post-virus spend-and-invest mode - wants to act now not just to rescue the industry from the immediate crisis, but also to prepare it for a future that will be both electric and he hopes much less dependent on foreign and in particular Chinese suppliers. … [Read more...] about Coronavirus: France announces €8bn rescue plan for car industry