Business valuation firms

Hanoi (VNA) – A total of 10,728 new firms were established in May with total registered capital of 112.7 trillion VND (4.83 billion USD), up 36.1 percent in number and 20.1 percent in capital from the previous month, according to the General Office of Statistics (GSO). With the May figure, the number of new firms set up in the first five months of the year reached 48,300 with total capital of 557 trillion VND, down 10.5 percent in number and 16.7 percent in capital year-on-year.    Taking into account the 817.4 trillion VND added to existing firms, the capital flow into the economy in the period came to 1,375 trillion VND, a decrease of 17 percent compared to the same period last year. Besides, 21,700 firms resumed operation, up 10.5 percent year on year. Meanwhile, 26,000 firms suspended operation for a certain period, up 36.4 percent year on year, and 16,500 suspended pending dissolution procedures, down 14.5 percent. Nearly 6,100 firms dissolved in the five … [Read more...] about New firms up 36 percent in May

According to the NA-assigned targets, Vietnam’s GDP growth rate in 2020 will be 6.8% while inflation will be kept below 4%. However, the unexpected outbreak of COVID-19 in more than 200 countries around the world has made this goal a major challenge which, as assessed by the Government, is difficult to be achieved. Given that fact, the proposal to adjust the growth targets is necessary and consistent with objective reality, looking directly at the socio-economic situation and forecasting the international and domestic situation in the near future. Under the Government’s updated scenario, the country’s GDP will grow by about 4.5% in 2020. The Government has also set a higher growth target of 5.4% in the event of a favourable global situation, with the disease being put under control and the global market recovering. Meanwhile, the consumer price index (CPI) for the whole year will rise by 4% on average; total state budget revenue will see a reduction of VND163 trillion … [Read more...] about BUSINESS NEWS HEADLINES MAY 30

Hanoi (VNA) – Business and investment opportunities in Vietnam after the COVID-19 pandemic were discussed at a video talk held on May 29 by the Foreign Ministry, the Vietnamese Embassy in the UK and Asia House - a UK centre of expertise on trade, investment and public policy in Asia. The event saw the presence of Deputy Foreign Minister Bui Thanh Son, Asia House Chief Executive Michael Lawrence, and business executives from around 40 UK groups and major enterprises such as HSBC, De La Rue, KPMG, Prudential, and Standard Chartered. The talk is a valuable chance to connect UK businesses and Vietnamese Government agencies, said Son, adding that it helps popularise information about policies and increase cooperation opportunities in the context of the two countries taking drastic measures to control the COVID-19 and recover their economies. He told participants that Vietnam is working on a “dual target” of disease prevention and economic recovery and development, with … [Read more...] about Post-pandemic business, investment opportunities shared with UK firms

Hanoi (VNA) -  Vietnamese agricultural, fishery and food businesses were updated on the Singaporean market at an online conference held by the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade) and the Vietnamese Trade Office in Singapore on May 29. The event, which saw the participation of over 100 representatives of agencies, organisations and businesses of the two countries, offered Vietnamese firms a good chance to directly interact with Singaporean partners, thus introducing their products. According to head of the Vietrade Vu Ba Phu, Singapore, one of the countries with the most dynamic economy in Asia - Pacific, is playing an important role in trade cooperation with Vietnam. The country considers Vietnam as one of the key markets to help it offset the shortage of goods, especially agricultural products, fisheries, food and construction products. Addressing the event, Chairman of the Singapore Manufacturing Federation and the … [Read more...] about Vietnamese companies seek business opportunities in Singapore

Tokyo (VNA) - Vietnam is a potential and emerging market, with low risks, good economy and stable politics, Eto Shinji, General Manager of Japanese building product distributor JUTEC Corporation’s Overseas Business Department, has said. “That's why we decided to go there. That was in 2015,” he noted in an interview granted to the Vietnam News Agency’s correspondent in Tokyo recently. According to him, at first, his company tried to sell Japanese building materials in the Vietnamese market. But unfortunately, the way of building houses in Vietnam is totally different from Japan’s one, and thus, building materials used in Vietnam are totally different from those used in Japan. “We had tried to sell our products to those who have special technical knowledge of Japan, but it was not easy. As a result, we changed our mindset to adapt to the market and then, decided to enter its real estate market because we thought that there is a close link between … [Read more...] about Vietnam hailed for good economy, stable politics: Japanese business executive