Vietnam’s aviation industry starts recovering from pandemic losses
HCMC – Vietnam Airlines and Vietjet Air have reported profits while Bamboo Airways is also on track to reach its breakeven point, partly backed by sharp increases in domestic and international flights during the Tet holiday early this year. Vietnam Airlines has finally eased off 12 consecutive
Parkson to exit Vietnam market
HCMC – Parkson Vietnam has filed for voluntary bankruptcy proceedings to the HCMC People’s Court on April 28 after years of losses in the Vietnamese market. The decision came after its 18 years of operating in Vietnam with an initial eight shopping malls, later narrowed down to the single Parkson
Finance Ministry rejects 50% registration fee cut request again
HCMC – The Ministry of Finance has reiterated its rejection of a proposal to reduce 50% of the registration fee for local car manufacturers. The ministry wrote to the prime minister on April 28, stating that domestically manufactured and assembled cars should not be entitled to a 50% registration
Understaffed auto inspection centers in HCMC see backlogs surging
HCMC – Despite the high demand for their services, the auto inspection centers in HCMC are unable to operate at full capacity due to a critical staffing shortage. Data from the HCMC Department of Transport showed that around 88,000 vehicles needed inspection in April, in addition to automobiles
HCMC to close inner-city streets for Reunification Day celebration
HCMC – Many inner-city streets will be closed to traffic on the evenings of April 28 and 30 to make room for the city’s Reunification Day celebration, said the HCMC Department of Transport. Vehicles will be banned from entering Nguyen Hue Boulevard, the section from Le Loi to Ton Duc Thang
Vietnam approves first traditional Covid-19 medicine
HCMC – Sunkovir is Vietnam’s first traditional medicine for treatment of the coronavirus disease to be licensed for circulation nationwide by the Ministry of Health from April 12 this year. At a seminar, “Effectiveness of traditional medicine products in preventing and treating the Covid-19 and
Trade Ministry backs 50% car registration fee cut
HCMC – The Ministry of Industry and Trade has thrown its weight behind a proposal for a 50% registration fee cut and an extension of special consumption tax payments for domestically made and assembled cars to boost consumption. Deputy Minister of Industry and Trade Phan Thi Thang wrote to the
HCMC lacks industrial land for FDI projects
HCMC – The city is running short of industrial land for big foreign direct investment (FDI) projects, said HCMC Chairman Phan Van Mai. Speaking during a hybrid meeting with foreign investors chaired by Prime Minister Pham Minh Chinh late last week, Mai said the city now lacks large locations of
Vietnam to allow online business registration
HCMC – Starting from July 1 this year, investors can register business online, making the business registration process simple and easy, particularly for household businesses. The Ministry of Planning and Investment has issued a circular amending and supplementing regulations on online business
PM orders tough measures against irresponsible officials
HCMC – Prime Minister Pham Minh Chinh has said tough measures should be taken to deal with officials who have a low sense of responsibility or avoid solving difficult matters by passing on them to higher levels of administration. Speaking at the fourth meeting of the steering committee for
VCCI again proposes abolishing special consumption tax on gasoline
HCMC – The Vietnam Chamber of Commerce and Industry, or VCCI, has repeated its proposal that the Ministry of Finance abolish the special consumption tax on gasoline. Gasoline is currently subject to import, environmental protection, special consumption and value-added taxes. Among the four taxes,
PM urges financial support for realty businesses
HCMC – The Prime Minister has told the Ministry of Construction and the State Bank of Vietnam (SBV) to reschedule loans and maintain debt classification to remove regulatory bottlenecks for real estate projects. The Government Office sent a written document to the Ministry of Construction, the SBV