The central and local governments and other agencies have announced a number of policies and programmes to help businesses overcome difficulties caused by the COVID-19 pandemic, but the many conditions they have to meet means not many have benefited from them, according to experts.
Nguyen Thi Minh has been forced to reduce the rents for her two apartments in HCM City’s District 2 twice this year from US$1,300 a month each to $900 to keep her tenants.
Dang Thanh Nga, 40, in Ha Noi called 10 sewers back to work for her garment factory just a few days ago as orders increased last week. Now she has no work to give them as all the orders have been cancelled.
The agriculture sector needs to address challenges related to branding, geographical indications, traceability, and intellectual property to take full advantage of the free trade agreement Viet Nam has signed with the EU, speakers said yesterday at a meeting.
Fruit and vegetable exports are unlikely to hit the target of US$4-5 billion set for this year, according to the Viet Nam Fruit and Vegetables Association.
Business confidence in the legal system remained low because local governments had made slow progress with regulatory reforms, Dau Anh Tuan, head of the legal department at the Vietnam Chamber of Commerce and Industry (VCCI), said on Monday.
Co-operation among businesses is a driving force to help Viet Nam penetrate international markets, meet foreign standards and ensure firms make high-quality products.
The European Chamber of Commerce in Cambodia (EuroCham) expressed its “serious concerns” on Monday over the “long-term negative impacts” of the EU removing the Kingdom’s access to the preferential Everything But Arms (EBA} agreement.
Cambodia’s garment sector is the backbone of the country’s export-driven economy and employs 86 percent of all factory workers. But the sector faces threats from increasingly competitive regional neighbours, the inevitable shift to automation and the potential loss of preferential trade agreements.
Inflows of foreign capital into the Kingdom’s banking sector nearly doubled during the first half of the year as two heavyweight players entered the local market and lending institutions responded to revised minimum capital requirements, a central bank official said yesterday.