Việt Nam News

Shares settled down on Tuesday as strong selling pressure weighed the market. 

The Civil Aviation Authority of Vietnam (CAAV) has proposed to the Ministry of Transport a plan to re-open domestic air routes with a pilot period of four weeks.

Demand from the European Union and North American markets recovered and rose strongly, boosting the export volume of galvanised steel and offsetting weak domestic consumption in the first half of this year, Việt Dragon Securities Corporation (VDSC) said in a report. 

VPBank has successfully tested the entire first letter of credit (LC) transaction process on the blockchain platform, making it one of the few banks in Việt Nam applying this technology.

Despite the COVID-19 pandemic, Bình Dương’s exports in the first eight months of the year increased by 37.3 per cent year-on-year to US$23 billion, according to its People’s Committee.

Many local seafood export enterprises forecast that the US and European markets will have high demand for importing shrimp at year-end.

Domestic car manufacturers sold just 8, 884 cars during August, a 32 per cent fall from the previous month marking the fifth consecutive month car sales plummeted since April this year, said a report by the Vietnam Automobile Manufacturers' Association (VAMA), an organisation consisted of 17 automobile manufacturers in Việt Nam. 

The Government has issued a resolution to create a sandbox for financial technology (Fintech) in the country’s banking sector.

As a hub of garment and textile production and agriculture in Việt Nam, Cần Thơ City wants to ease social distancing measures to help businesses.

Vietnam Railways Corporation (VNR) reported its revenue fell to an all-time low in August as the COVID-19 social distancing measures dragged on its passenger transport.

Restaurants and eateries in HCM City have been allowed to reopen and sell takeout food, but some shop owners are struggling to get their businesses back on track.

The People’s Committee of the central province of Thừa Thiên-Huế has signed a memorandum of understanding (MoU) on cooperation in smart city development with the Korea Land & Housing Corp.

Cold storage facilities is a highly profitable segment in the logistics industry, but exploiting its potential is not easy for domestic or foreign investors.

Over the past seven months, Việt Nam earned US$906.6 million from exporting tra fish, up 14.6 per cent over the same period of last year.  Mainland China, Hong Kong and the US were the three largest importers of Vietnamese basa with respective turnovers of $238 million and $202 million. 

Việt Nam's strategy regarding the development of science, technology and innovation should focus on the diffusion and adoption of new technologies in companies, not just research and invention, to bring about significant productivity and economic gains, said Vietnam: Science, Technology and Innovation Report 2020 released by the Ministry of Science and Technology and the World Bank. 

Market analysts expect the coming easing of social distancing measures will help soothe investors' sentiment and the market will continue to have a few more weeks of accumulation before the third-quarter business results season.

Production is continuing at six industrial zones and hi-tech parks in the central city, while nearly 80 per cent of the total labour force has been maintained since the city began lockdown on August 16.

The banking system and credit institutions are the lifeblood of the nation's economy, with digital information in banking and finance set to become one of the key factors in the digital economy, according to experts.