OTT platform VieON was left in the lurch by after a one-sided contract termination by MoMo.
While Vietnam has experienced an unprecedented boom in recent decades, the current pandemic is now having a clear negative impact on the economic outlook. Foreign trade, investments, and the not negligible remittances from overseas Vietnamese and disruption in consumption are putting pressure on the economy. It is clear to every observer that economic recovery will be a Herculean task. But what can Vietnam do to reposition itself powerfully and finally emerge from the crisis stronger?
The disruption of supply chains as a result of the Covid-19 pandemic is a major concern, as all ASEAN members are export-oriented, said Vietnam’s Trade Minister Tran Tuan Anh.
Banks are feeling growing concerns over their bad debts amid the current disruptions caused by COVID-19.
Vietnam’s retail market has become a shining spotlight in the ASEAN against the backdrop of disruptions caused by the current coronavirus pandemic. Matthieu Francois, an associate partner of McKinsey & Company, told VIR’s Thanh Van about the both advantages and disadvantages awaiting foreign retailers in this lucrative market.
Listed Taiwanese-owned garment manufacturer Grand Twins International (Cambodia) Plc (GTI) reported a sharp decline in revenue in the first quarter of this year, citing Covid-19-induced disruptions to their exports and supply chain.
Amid the rising demand from tech-savvy and innovative companies that demand hassle-free and rapid logistics options, Singaporean logistics investors are looking towards Vietnam again, after short disruptions by the ongoing health crisis and domestic slowdown.
Both national flag carrier Vietnam Airlines and low-cost Vietjet Air reported heavy losses in the second quarter of this year and cumulative first-half deficits as a result of industry disruptions caused by the COVID-19 pandemic.
Priorities would be to avoid any disruption to the economy and a negative growth scenario as Vietnam’s major economic partners face severe impacts from the pandemic.
HDBank fared well in the first half of the year with high and sustainable growth, despite disruptions caused by the Covid-19 crisis.