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
Struggling to survive
As Vietnam’s apparel producers are grappling with excess inventory and declining orders, local manufacturers are having to move on in the face of financial constraints and weakening global demand. During an interview with The Saigon Times, Truong Van Cam, vice chairman and general secretary of the
Bringing back international travelers
Vietnam needs an effective short-term marketing campaign to attract international tourists from key source markets, especially those with untapped potential. Statistics from the General Statistics Office show that Vietnam gained revenue of around VND196,600 billion from serving 3.7 million
Achilles heel in tourism
Vietnam’s tourism industry has made only meager strides in diversifying its products despite years of growth. Many businesses have focused on developing new tourism products to attract visitors, especially since the country resumed tourism after the Covid-19 pandemic. As a result, more and more
Bright outlook amid monetary easing
Monetary policy is gradually shifting from tightening to easing again. Following the two interest rate cuts in late March, the central bank has signaled another rate reduction is coming. Money goes around flexibly Contrary to former concerns, the stock market was undergoing fairly positive
Biting the bullet
Flagging demand has compelled manufacturers to reduce their production and workforce. Shoe manufacturer PouYuen, which makes sneakers for global brands like Nike and Adidas, is reportedly set to cut nearly 6,000 jobs in HCMC. Working amidst worries According to a leader of PouYuen Vietnam Group,
Recovery unabated amid uncertainty
2023 looks to be a challenging year for the global economy, with global growth decelerating owing to monetary tightening and the Russia-Ukraine military conflict continuing to weigh on activity. Persistent inflation pressures, and now financial sector problems in the U.S. and Europe, are injecting
Off to a good start
The National Assembly Standing Committee reached a consensus to send the NA the draft of a resolution on piloting new policies for HCMC’s development at the fifth NA sitting that began on May 22, 2023. Apart from its endorsement of a new resolution as a replacement of Resolution 54 on a special