Regional and financial co-operation are crucial to strengthen the co-ordination and respond to the impacts of the COVID-19 pandemic and support a sustained economic recovery, participants agreed at a meeting held Friday in Ha Noi.
Markets and grocery stores targeting foreigners in Ho Chi Minh City are struggling to stay afloat amid a dearth of customers due to the COVID-19 pandemic.
The severe economic blows from COVID-19 have forced scores of businesses to suspend operations and even file for bankruptcy, with real estate companies among the hardest hit.
Ho Chi Minh City’s Department of Labour, Invalids and Social Affairs has raised a proposal to the municipal People’s Committee, regarding the entry of 7,000 foreign experts amidst the ongoing COVID-19 pandemic, saying their work is important to local business operation.
Despite short-term difficulties, the prospects for industrial zone stocks will increase after the COVID-19 pandemic is over, driven by the relocation of global firms to diversify supply chains, with many picking Viet Nam as their destination.
The COVID-19 pandemic is weighing on the banking system’s non-performing loans (NPLs), requiring significant effort to keep NPLs ratio below three per cent by the end of this year as targeted by the Government.
Footwear exports this year are unlikely to hit the target of US$24 billion because of the fallout of the Covid-19 pandemic, according to the Ministry of Industry and Trade.
International trade remedies are used by many countries to protect their domestic industries, especially now production has stalled due to the impacts of COVID-19. With tax incentives from the new-generation free trade agreements (FTAs), including the newly-approved Europe-Viet Nam FTA (EVFTA), the risk of Viet Nam's exports being put under investigation for evasion of trade remedies is forecast to increase.
Land prices in Da Nang have dropped significantly after peaking in a ‘land fever’ at the beginning of this year, resulting in heavy losses and debts for many investors.
Construction steel sales are predicted to recover in the remaining months of 2020 after a fall in the January-August period due to impacts from the COVID-19 pandemic, according to the Vietnam Steel Association (VSA).