Businesses

Part of Mong Cai city in Quang Ninh province (Photo: baoquangninh.com.vn) Quang Ninh (VNA) – Quang Ninh ’s success in protecting “ green zones ” from the latest COVID-19 outbreak has created an impulse for businesses based in this northeastern province to recover operations and flexibly and safely adapt to the pandemic. Quang Ninh posted an estimated economic growth rate of 8.6 percent in the first nine months of 2021, much higher than the national average, which was mainly driven by the processing and manufacturing industry. The province’s contribution to the State budget topped 33.5 trillion VND (1.47 billion USD), equivalent to 93 percent of the sum collected in the same period last year, while total investment in society approximated 64 trillion VND, up 7.8 percent. Chairman of the provincial People’s Committee Nguyen Tuong Van attributed the achievements to local businesses and entrepreneurs’ proactiveness in implementing various solutions such as …

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The General Department of Taxation directly administers taxes on overseas suppliers and is responsible for granting tax identification numbers to overseas suppliers in accordance with Vietnamese regulations. The Vietnamese Minister of Finance has issued Circular 80/2021/TT-BTC guiding the Law on Tax Administration and Decree 126/2020/ND-CP. According to Circular 80, platforms such as Facebook, Google and YouTube, although not having a fixed business establishment in Vietnam, operating via e-commerce methods in Vietnam will have to register for tax declaration at tax administration agencies of Vietnam. This circular also clearly stipulates the responsibilities of tax authorities in tax administration for e-commerce business, business on digital platforms and other services performed by overseas suppliers in Vietnam. Accordingly, the General Department of Taxation directly administers taxes on overseas suppliers and is responsible for granting tax identification …

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Central Retail, which operates outlets under the brands Go, Big C, and Top Markets, said all customers are required to have been vaccinated with at least one dose or to have recovered from Covid-19 as the city requires. The chain will continue to strictly carry out safety requirements, said Marketing Director Nguyen Thi Bich Van. Lender ACB has done the same at all its branches. The company have also assigned people to help elders who are not tech-savvy. Gong Cha bubble tea is also requiring customers to show a ‘green pass’, a mobile app that records the users’ vaccination status. Local residents comply with the city’s regulations, and as the city has a high vaccination rate, there is not much difficulty for people to obtain a green pass, spokesperson Tran Ngoc An said. Some businesses are also using QR codes to record the travel history of employees and customers. These codes are placed at the entry points of buildings. Nguyen Bich Tram, CEO of female fashion chain OLV, …

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The Prime Minister has requested the Ministry of Planning and Investment (MPI) propose suitable management solutions for solar power projects. A solar power plant in Ninh Thuan Province. At present, more than 30 provinces and cities nationwide have solar power projects. The Government Office has released this PM direction on this issue for the MPI, the Ministry of Industry and Trade and relevant agencies after local media has reported that a Thai investor has acquired solar power projects in Binh Phuoc. According to reports, Thailand's Super Energy Corporation Company Limited (Super Energy) has announced it has acquired the Loc Ninh 1, 2, 3, 4 solar power projects in Binh Phuoc by buying those plants’ shares from intermediary companies with a total investment of US$456.7 million. Of which, the investment is $99.7 million to the Loc Ninh 1 solar power project, $140 million to the Loc Ninh 2, $105 million to Loc Ninh 3 and $112 million to Loc Ninh 4. Before …

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Illustrative image. (Photo: VNA) Hanoi (VNA) – Vietnam’s seaports handled over 587 million tonnes of goods in the first ten months of this year, representing a year-on-year rise of 2 percent, according to the Vietnam Maritime Administration (VMA). growth rate of 12 percent compared to the same period last year to nearly 20.3 million twenty-foot equivalent units (TEUs). exports was estimated to hit over 6.6 million TEUs, surging 11 percent, that of imports - nearly 6.7 million TEUs, up 14 percent, and that of domestic goods - almost 7 million TEUs, up 10 percent. seaports in Hai Phong expanded nearly 15 percent and in Dong Nai 7 percent year on year. VNA …

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COVID-19 vaccination (Photo: VNA) Hanoi ( VNA) - Vietnam’s economic prospects greatly depend on COVID-19 vaccination speed and scale, the efficiency of pandemic prevention and control measures and the effectiveness of supporting packages, held experts at a conference organised by the Vietnam Economic Strategy Studies Centre (VESS) on October 18. They asserted that bad debts may continue to rise, becoming a threat for the financial system in the post-pandemic period. Therefore, they stresses the need to prepare for worst-case scenarios. Dr. Nguyen Duc Thanh, VESS Director said that slow vaccination has held Vietnam back in recovery process in 2021, which can lead to it losing comparative advantage. Currently, Vietnam’s vaccine coverage remains low compared to the world's level, he noted. The resurgence of COVID-19 has disrupted supply chains and affected the labour market, posing severe impacts on domestic businesses, he said, adding that the growth in the first …

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Ilustrative photo Investors disappointed During the trading session on 11 October, the VN Index suddenly gained more than 21 points thanks to the green color from bank stocks with an average increase of 3% to 5%. The fact that the banks share price increased again made investors very excited, with the expectation that they would be profitable again after a long time of loss facing, ever since the Covid-19 pandemic broke out. Even investors who did not hold NH stocks were also happy because at the moment only banks can pull VN Index up to 1,400 points. For example, in the 11-10 session, the two banks that contributed the most points to the VN Index were Techcombank (TCB) and Vietinbank (CTG) with 2.09 points and 1.93 points, respectively. However, bank stocks quickly cooled down when they dropped sharply in the following trading sessions to the surprise of investors. Earlier, bank stocks had made investors happy when they increased strongly, but then suddenly turned to …

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Prime Minister Phạm Minh Chính has a meeting with representatives of COVID-19 frontline medical forces on Monday. —VNA/VNS Photo HÀ NỘI — The Party and the State always acknowledge the contributions and sacrifice made by frontline medical forces in the fight against COVID-19, said Prime Minister Phạm Minh Chính yesterday at a meeting with representatives of the forces nationwide. He said that frontline medical workers are an important force along with the military, police and others in combating the pandemic. Those who made outstanding contributions deserve to be honoured, he said. Deputy Prime Minister Vũ Đức Đam said many of those meeting the PM took on double tasks - being a doctor and a manager. The frontline medical forces are not only military medics, police officers, nurses, students and volunteers who help doctors at hospitals but also nuns and even recovered patients. They have taken on duties similar to those of doctors. “All medical forces have made extremely …

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Deputy Minister of Labour, Invalids and Social Affairs Lê Văn Thanh Deputy Minister of Labour, Invalids and Social Affairs Lê Văn Thanh told Vietnam News Agency how the ministry had made huge efforts to implement social security policies to keep labourers working after the peak of the fourth wave of the COVID-19 pandemic. Since the beginning of 2020, Government issued many solutions to support its people, businesses and labourers. What are the differences between those policies and the ones introduced at the fourth outbreak of the pandemic? Previously, we had many policies to support businesses and people affected by the pandemic. During this fourth wave of the pandemic, we issued new policies, especially focusing on supporting workers, employers and groups of people directly affected by COVID-19. We have provided more specific support and regulations, and included those who have lost their jobs in the coverage of the policies. In particular, we focused on monetary …

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The country still faces several obstacles to fully unlocking the benefits of digital technologies. Digital transformation can unlock VND1.7 trillion (US$74 billion) worth of annual economic value in Vietnam by 2030, equivalent to about 27% of the country’s GDP in 2020. An overview of the webinar. Photo: NIC It is the predication stated in the latest report “Unlocking Vietnam’s Digital Potential” conducted by AlphaBeta, which was launched on October 18 at a webinar held by the Vietnam National Innovation Center (NIC) under the Ministry of Investment and Planning. Speaking at the event, Jacques Morisset, World Bank Lead Economist and Program Leader for Vietnam, pointed out the facts that about 60% of businesses use online platforms and tools and over 2,000 administrative procedures have gone online are bright spots in the context of Covid-19 that Vietnam has overcome. To move towards a contactless economy, Vietnam needs to focus on three priorities to …

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