Recovery vietnam

The Ho Chi Minh City Stock Exchange (HoSE) on Thursday warned that Vietnam Airlines (HVN) could be delisted if an audit proves the company has logged an operating loss for three consecutive years. In its warning, the HoSE cited the firm’s consolidated financial statement for the last quarter of 2022 in which Vietnam Airlines posted an accumulated loss of nearly VND34.2 trillion (US$1.46 billion) in 2022. The carrier also reported that its equity was negative VND10.2 trillion ($435.4 million) last year. According to the Law on Securities, the stock of a public company must be delisted if it suffers annual operating losses for three consecutive years, if its accumulated losses exceed its charter capital, or if its equity is negative. As such, if Vietnam Airlines' audited consolidated financial statement for 2022 shows a loss, it will be the firm’s third consecutive year of operational losses and its ticker will be delisted, the HoSE warned. On June 1, 2022, the HoSE issued a … [Read more...] about Vietnam Airlines risks stock delisting

In an interview granted to the Vietnam News Agency’s correspondents in Vientiane, Boviengkham Vongdara, member of the Central Committee of the Lao People's Revolutionary Party (LPRP), Minister of Science and Technology of Laos, and President of the Laos - Vietnam Friendship Association (LVFA), highlighted Vietnam's major achievements under the CPV leadership through different periods, including the declaration of independence in 1945, the victories against the French colonialists and the U.S. imperialists between 1945 and 1975. He also spoke highly of the reunification of the country in 1975, and the post-war national construction and recovery after 1975. He said that the most outstanding success of the Party is its leadership over the “Doi Moi” (Renewal) cause, switching from a subsidized economic model to a socialist-oriented market economy, helping bring the country’s economy into the contemporary era. He noted that last year, despite COVID-19 impacts and difficulties from the … [Read more...] about Lao official highlights Vietnam’s successes under CPV leadership

Addressing the event, Sieu said member countries’ tourism reopening last year signified a strong recovery of the sector. Vietnam welcomed 3.5 million international visitors in 2022, with ASEAN named the country’s leading tourist market in terms of recovery speed, he added. The official affirmed that Vietnam always welcomes proposals from ASEAN member states to learn, share and explore the potential for further cooperation in the field of festival tourism. In the second half of this year, Vietnam plans to organize a regional conference on festival tourism, he unveiled. The conference focused on reviewing reports of the bloc’s four tourism cooperation committees, and approving a number of documents including the final drafts of standards and toolkit for the MICE (Meetings, incentives, conferences and exhibitions) and event organization profession, among others. Participants also discussed preparations for a series of functions such as the 26th ASEAN Tourism Ministers’ Meeting; … [Read more...] about Vietnam attends meeting of ASEAN National Tourism Organizations

-What do you think about local garment firms’ inability to dominate the domestic market of 100 million people here in Vietnam? - Vietnamese textile and garment enterprises are still [only beginning to] tap the domestic market. Last year, the domestic market increased by 40% against 2021. Local enterprises performed very well in the first half of last year and began to face difficulties in the third quarter. In the fourth quarter, many good Vietnamese brands like Viet Tien saw sales decrease. In late 2022, the Vinatex Fashion Center retail outlet in Hanoi made revenues of only VND500-600 million ($21,200-25,400) a day, compared with daily revenues of over VND1 billion in previous years. Over the past two years, many domestic fashion brands have reduced their number of stores and limited new openings. They have had to focus on certain locations to reduce costs, optimize operations and try to offer products that are most suitable to consumers’ incomes.In fact, domestic … [Read more...] about Garment firms should tap niche markets: Vinatex chairman

A petrol station in HCM City (Photo: VNA) Hanoi (VNS/VNA) - Prime Minister Pham Minh Chinh has asked the Ministry of Industry and Trade (MoIT) to take measures to ensure the supply of all key commodities, especially fuel, and to stabilise the country's distribution channels for the economy after the Tet (Lunar New Year) holiday. Vietnam Electricity (EVN) was told to speed up the construction and implementation of major power projects, including renewable energy, to ensure enough power for the country's crucial industries. In addition, priority should be given to connecting isolated and remote communes to the national power and telecommunication networks. MoIT, the ministry in charge of Vietnam's power sector, was told to quickly finish and submit the country's Power Planning VIII to the central government for review. The PM said the country's top priority in the short term is to focus on boosting exports, especially agriculture products to China and neighbouring … [Read more...] about MoIT proposes adjusting fuel prices every Thursday