Garment sector severely hit by mass layoffs
HCMC – The textile and garment sector in Vietnam has witnessed a significant impact on its workforce this year, with around 70,000 employees nationwide losing their jobs and another 66,600 having less working hours in January-May, the Ministry of Labor, Invalids and Social Affairs reported.
Dong Thap to supply sand for Can Tho-Ca Mau Expressway project
HCMC – Dong Thap Province has pledged to provide seven million cubic meters of sand for two expressway projects, Can Tho-Hau Giang and Hau Giang-Ca Mau, to address the shortage of sand faced by expressway developers. The 110-kilometer Can Tho-Ca Mau Expressway is a key component of the eastern
Bank loans in low demand
Cash-starved businesses have refrained from accessing bank loans while others have even canceled their loan requests despite reduced interest rates Interest rates still high The food industry is performing better than labor-intensive sectors such as wood, apparel and footwear. Even though food is
Flicking through business situation
The Ministry of Planning and Investment’s 2022 white book on Vietnamese enterprises showed that there were 811,538 businesses in Vietnam as of December 31, 2020, but only 684,260 produced goods and generated revenue during the year. This translated into 16% of Vietnamese enterprises without an
Paving the way for tourism development
Prime Minister Pham Minh Chinh signed Resolution 82/NQ-CP on May 18, 2023, focusing on critical measures and solutions to enhance service quality and accelerate the recovery and sustainable development of the tourism industry. The Government’s resolution outlined tasks to restructure the tourism
More challenges ahead
Apart from flagging orders, stringent requirements for clean energy transition, sustainable materials, and low-carbon and eco-friendly production present new challenges to Vietnamese manufacturers Technical barriers The prolonged Russia-Ukraine military conflict, escalating inflation, and economic
Bad debt on the rise
Bad debt has begun rising. Without a quick solution to keep it in check, bad debt would be once again a big problem for the economy, affecting future growth. VND600 trillion worth of bad debt Seven banks have let their bad debt ratio on the balance sheet exceed 3%, out of the 28 lenders that […]
The shadow over economy
The National Assembly (NA) sitting is taking place at a time when things could not be worse. The country has been beset by economic woes while business sentiment has plunged to its lowest since 2005. The 15th NA began its fifth sitting in Hanoi on May 22. During the ongoing meeting, there have
The capital increase race
An increase in equity is believed to help securities companies get ready for their business activities since this sum of money is closely related to their core operations such as margin lending or proprietary trading. The race heats up again After a lukewarm period, capital increases at securities
In vicious cycle
The disbursement of the VND120-trillion credit package has been much slower than expected, with very few applicants since its launch over a month ago. Many housing developers are not eligible to access loans, while numerous new projects are still on the way to getting their legal procedures
Vietnam Register clarifies inspection extension rule
HCMC – Shortly after the Ministry of Transport issued a new circular extending the roadworthiness certificates of private-use cars of up to nine seats for six months, Vietnam Register has made a clarification, saying only vehicles whose inspection certificates expire before July 1, 2024 will enjoy
Police detain 200 involved in flight attendants’ drug case
HCMC – The police have detained 200 individuals involved in a case in which four Vietnamese flight attendants were found in mid-March carrying from Paris to HCMC 11.2 kg of illicit drugs hidden in 327 toothpaste tubes and 17 mouthwash bottles. Speaking at a Government press conference today, June
