Vietnam export import commercial joint stock bank

The latest statistics represent a rise of 4.4% in volume and up 17.9% in value in comparison with the same period last year, according to the Agrotrade under the Ministry of Agriculture and Rural Development. The opening five months of the year saw the Philippines top the list of consumers of Vietnamese rice, purchasing 1.3 million tonnes for US$598.6 million, annual increases of 23% in volume and over 42% in value. … [Read more...] about Vietnam exports nearly 3.5 million tonnes of rice in six months

Hanoi (VNS/VNA) - Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously. Under a recent directive issued by the State Bank of Vietnam (SBV), banks will not be permitted to pay dividends in cash to focus their resources on sharply reducing interest rates for current loans and new loans, which is considered a measure to help firms overcome difficulties caused by the COVID-19 pandemic. According to experts, this means that banks, especially those with pre-tax profit reaching up to dozens of trillions of Vietnamese dong last year, such as Vietcombank, Techcombank and VPBank, will automatically have a source of funding to increase their charter capital if paying dividends in shares, or increase equity if not paying dividends this year. Besides using profits, banks also have to find other measures to increase capital as the profits are not enough … [Read more...] about Banks upbeat about charter capital hike in 2020

Bamboo Airway is working on recovering all of its domestic routes following its enforced COVID-19 hiatus. According to the latest data from the Civil Aviation Authority of Vietnam, the airline’s throughput in June surpassed that in the same period last year. In the first five months of 2020 it also posted the highest on-time performance (OTP) rate in the domestic industry, at nearly 96 percent, with all flights deemed safe. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 6

Hanoi (VNS/VNA) - The European Chamber of Commerce in Vietnam (EuroCham) proposed the Government to apply a 50 percent registration fee reduction to all automotive assembly firms, importers and dealers of new vehicles. The proposal was part of recommendations at the EuroCham’s 12th White Book publication, which was announced last week. It was issued after the Vietnamese Government recently decided to apply the 50 percent fee reduction for buyers of locally-manufactured and -assembled vehicles until the end of this year. The cut aims to stimulate domestic consumption and remove difficulties for local production and business due to the impacts of the COVID-19 pandemic. Currently, buyers of cars with less than nine seats in Vietnam are subject to a 10 percent registration fee, or 12 percent for residents of Hanoi. “With the Prime Minister’s decision to reduce the registration fee, buyers of domestically-manufactured and -assembled vehicles will only have to pay a fee … [Read more...] about EuroCham proposes 50 pct cut in registration fee for imported cars

Hanoi (VNS/VNA) - Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months. The Vietnam News Agency reported that domestic supply is increasing due to harvesting the summer-autumn rice crop. Vietnam am can export 2.3-2.5 million tonnes of rice from this rice crop after ensuring sufficient domestic consumption. The export price on June 4 hit the highest level of 475 USD per tonne, as rainfall affected the harvest. Meanwhile, India's export rice prices last week also dropped to the lowest level in two months due to weakness of the rupee and lower rice demand. The prices of five percent broken parboiled rice in India fell to 366-372 USD per tonne on June 18, the lowest level since March 26. Prices of Thai five percent broken rice also plunged to 505-525 USD per tonne on June 18 from 505-533 USD per tonne the previous week. According to the General Department of … [Read more...] about Rice export price lowest in two months