Business

Though exports remain strong, several sectors face difficulties due to the COVID-19 pandemic and require support from the Government if they are to sustain the growth, experts said.

The Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) announced the adjustment of petrol prices to be over 850 VND higher per litre at 3pm on July 12.

National flag carrier Vietnam Airlines will resume international commercial flights linking Hanoi and HCM City to Australia and some Asian and European destinations.

The Electricity of Vietnam Generation Corporation No. 2 (EVNGenco2) inked a strategic cooperation agreement with Sembcorp Industries of Singapore on July 11 in Can Tho City to explore a strategic partnership.

Tax authorities are aiming to improve tax management of property transactions to prevent tax avoidance and increase State budget collection.

Honda Vietnam posted an 8.9-percent increase in retail sales of automobiles but a 16.9-percent drop in that of motorbikes in June, the firm announced on July 10.

Vietnam imported around 70,000 tonnes of frozen pork and poultry by-products worth USD727 million in the first six months of this year, up 51.5% on-year.

Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.

Vietnam is among the top expansion destinations for ASEAN companies looking for growth opportunities in the 10-nation bloc, according to a survey commissioned by Standard Chartered for its “Borderless Business: Intra-ASEAN Corridor” report released on July 8.

Germany’s crane supplier Kocks Ardelt Kranbau on July 8 signed a contract for the supply of container cranes with Dinh Vu Petroleum Service Port JSC of Vietnam.

HCM City received overseas remittances of around USD3.2 billion in the first six months of this year, representing an on-year rise of 22.34%.

Vietnam’s economy would grow from 6-6.5 percent in the next decade, DBS Bank experts said.

Over 2.3 million people in Vietnam have become unemployed in the fourth Covid-19 wave in Vietnam, the General Statistics Office of Vietnam announced in the labour and employment survey in the first half of 2021.

The Ministry of Transport has approved the temporary suspension of flights between Ho Chi Minh City and Phu Quoc island city in Kien Giang province.

National flag carrier Vietnam Airlines on July 7 signed a credit deal – worth total of 4 trillion VND (173.7 million USD) – with three commercial banks, which are expected to weather the financial impact of the COVID-19 pandemic.

The Ministry of Trade and Industry (MoIT) has said it is cooperating with the Ministry of Finance to consider the provision of tax incentives to encourage the development and use of electric vehicles in Vietnam.

The Asian Development Bank (ADB) has approved a USD4.6 million technical assistance to help the Government of Vietnam to strengthen public–private partnerships (PPPs), private sector development, and state-owned enterprise (SOE) reform.

Experts are positive that foreign trade activities in Vietnam will see good growth in the second half of 2021.

The opening half of 2021 witnessed Vietnamese import-export turnover reach US$316.73 billion, marking an increase of 32.2% compared to the same period from last year, according to the Ministry of Industry and Trade.