Việt Nam News

Vietnamese businesses are struggling to fulfil export orders as the COVID-19 outbreak hinders purchase of raw materials and production, and are at risk of losing customers.

In the face of rising bad debt in the ongoing pandemic, commercial banks have been forced to write up their loan loss provisions, according to industry sources. 

Việt Nam's stock market reversed to drop slightly on Tuesday as a series of large-cap stocks lost ground on strong profit-taking pressure.

Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên highlighted Việt Nam’s priorities in national economic recovery, making contributions to Asia-Pacific Economic Cooperation (APEC)’s general development while attending the 32nd APEC Ministerial Meeting on Monday and Tuesday.

Denmark's Specter Real Estate A/S has begun construction of a garment factory in Mekong Delta province of An Giang’s Chau Thanh district with a total investment of VNĐ253 billion (about US$11 million).

The main contractor for the Nhổn – Hà Nội Railway Station route - the second metro route in Hà Nội – has asked for compensation of US$114.7 million, saying that it has been suffering losses due to long-delayed land clearance.

The Regional Comprehensive Economic Partnership (RCEP) Agreement will officially take effect starting January 1 next year, according to the Ministry of Industry and Trade.

With a credit limit of up to VNĐ3 billion (US$131,700), HDBank's credit card line for buying petroleum will help businesses easily manage fuel costs most conveniently.

The carrier last week also resumed its cross-regional services between Thai northern city of Chiang Rai with Phuket, famous beach destination and southern city of Hat Yai to further facilitate air travel recovery post pandemic.

The demand for gasoline in the domestic market in the fourth quarter of this year will recover compared to the previous quarters but still lower than the same period last year, the Việt Nam Oil and Gas Group (PVN) forecasted.

The Cửu Long (Mekong) Delta province of Long An will work to further attract investment in its border economic zone, according to the latter’s management board.

Việt Nam is looking to spend VNĐ400 trillion (US$17.65 billion) on upgrades to its airports from now until 2030, according to a proposal that the Ministry of Transport has submitted to the Government.

The task force will proactively address difficulties the business community has been facing amid the pandemic, thereby drawing up measures to help them weather the storm. 

Although sales are positive, rising input costs are weighing on cement enterprises’ business results in the third quarter.

The HCM City Department of Industry and Trade is set to organise a shopping promotion programme from November 15 until the end of this year to “promote year-end consumption and shopping.”

Việt Nam's stock market had a good start on Monday, bolstered by strong gains in many stock groups including securities and rubber production.

Export companies in HCM City are recovering well following the lifting of COVID-19 restrictions as workers from other provinces gradually return to work.

According to the Việt Nam Industry and Trade Information Centre, the country shipped 1.18 million tonnes of coffee overseas for US$2.23 billion, down 5.4 per cent in quantity but up 3.4 per cent in turnover and 9.2 per cent in price annually.