Mr. Quach Van Ngoan, a farmer in Long Binh Commune in Long My Town in Hau Giang Province, said that his family has 4,000 square meters of rice. He finished harvesting and already sold all his paddy more than 10 days ago for VND5,200 per kilogram as farmers needed money to cover necessary expenses and daily expenses. Farmers in the Mekong Delta have mostly finished harvesting the winter-spring rice crop. Most farmers harvested and sold paddy when the prices were at high levels. Currently, paddy is in warehouses of export enterprises, rice mills, and traders. Enterprises need to export rice in a certain volume. In the past weeks, arguments were raised on social networks and some media on keeping or suspending the export of rice. It is important to consider and calculate the volume and time of export. According to a report by the Vietnam Food Association, by March 27 this year, the total amount of undelivered signed contracts was nearly 1.6 million tons of rice. Of which, the … [Read more...] about Mekong Delta provinces expect good summer-autumn rice crop
Supporting local business
Hanoi (VNA) – The State Bank of Vietnam (SBV)’s net purchase of foreign currencies exceeded 11 billion USD in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately 63.5 billion USD. The figures were announced by SBV Governor Le Minh Hung at an online conference between the Government and localities held in Hanoi on July 2. He said the SBV has carried out a flexible currency policy to stabilise the average interest rate. The average lending interest rate was reduced by 0.5 percent over the January-June period. Meanwhile, credit grew approximately 6.9 percent from 2017, with its structure occupied mainly by those lent to the processing-manufacturing sector (16.3 percent) and rural agriculture (21 percent), as well as small- and medium-sized businesses (nearly 7.1 percent). Hung stressed that the credit structure has been shifting towards supporting the development of special production areas like export, rural farming, and the … [Read more...] about Foreign exchange reserves hit 63.5 billion USD
At the same time, they must exert the utmost effort to achieve socio-economic development goals for 2020 set by the Party Central Committee and in resolutions of the National Assembly, the Government, and city and provincial party congresses and people’s councils. … [Read more...] about Localities asked to review impact of COVID-19 on development
However, he noted that the U.S. side has strict quality requirements for imported medical products. Therefore, he asked Vietnamese businesses to follow instructions from the Government and related ministries, especially the Ministries of Public Health, and Industry and Trade, on regulations related to the export of medical equipment and face masks, and at the same time discuss carefully with U.S. partners about production and export contracts. … [Read more...] about Supporting students – top priority amid COVID-19 outbreak: Ambassador to U.S.
The second group is labourers who are working in Foreign Direct Investment enterprises, returned to their hometowns (affected areas) during the Tet (Lunar) New Year holidays and then came back to their enterprises right at the time of the outbreak of COVID-19 and were forced to be quarantined. In this case, enterprises should not only use current labourers but also have strategies to attract local labourers as well as labourers in non-affected areas to fix the situation. … [Read more...] about Solutions needed to support COVID-19-affected labourers