Financial business news

An overview of the meeting (Photo: VNA) Hanoi (VNA) – The impressive economic growth in the first seven months of this year reflects the efficiency of the policies that have been applied recently, stated Minister of Planning and Investment Nguyen Chi Dung at the meeting between the Prime Minister and businesses that opened in Hanoi on August 11. The minister said that international organisations have shown optimism about the Vietnamese economy, rating the country’s long-term credit as "stable" and "positive". Many economists held that the Vietnamese economic resilience is relatively good currently, he added. The official cited a recent survey as showing that in the second quarter of this year, 70-80% of total businesses highly valued the effectiveness of the Government’s support to businesses amid the COVID-19 pandemic , especially those in taxation. As of the end of July, the country had 871,000 companies, up nearly 13% over 2019. In July alone, more than 130,000 … [Read more...] about Government’s economic stimulation policies prove effective: Minister

Illustrative image (Source: VNA) HCM City (VNS/VNA) - As tourism continues to revive, the hotel and tourism industry is suffering from challenges in recruiting qualified human resources post pandemic, industry players warned. Speaking at a seminar on August 9 in HCM City, Dr Nguyen Anh Tuan, director of the Institute for Tourism Development Research, said there was a lack of high-quality staff in the industry. Vu The Binh, chairman of the Vietnam Tourism Association , said that human resources were a weak point for the industry even before the pandemic. “Efficient, hard-working, and resourceful human resources are the backbone of any successful business. It is even more so in the case of the hotel industry.” Successful hotel operations are sustained by customer-oriented and hard-working employees who have adequate competencies, he added. A large number of hotels and resorts stopped operation during the two-year pandemic, and coming back could prove challenging, he … [Read more...] about High-quality human resources key to sustainable tourism industry

The Polish national pavilion at the 26th International Exhibition on Food & Beverage and Food Processing, Packaging Technology & Equipment that opened on Thursday at the Sai Gon Exhibition and Convention Centre in District 7. — VNS Photo Thu Hang The 26th International Exhibition on Food & Beverage and Food Processing, Packaging Technology & Equipment opened on Thursday at the Sai Gon Exhibition and Convention Centre in District 7. Vietfood & Beverage – Propack 2022 has attracted 350 exhibitors from 18 countries and territories, who are showcasing products, equipment and technology for the food and beverage industry and for food packaging and processing. There are national pavilions from India, Poland, South Korea, Russia, Singapore, Japan, and Indonesia. The event also features a series of seminars and business matching programmes on development prospects of the agricultural products intertrade between Viet Nam and Russia, development of Russian grain … [Read more...] about Food and beverage, packaging expos open in HCM City

Some students might not be able to attend their dream university due to increases in tuition fees. (Photo: nld.com.vn) HCM City (VNS/VNA) - Sudden increases in university school fees have brought challenges to both parents and students. Even though the Ministry of Education and Training ( MoET ) has written a proposal to keep the tuition fee unchanged between the 2021 and 2022 school years, many universities have announced multiple price hikes. HCM City University of Law is one of the schools with the highest tuition fees next school year. According to the school's announcement, the lowest tuition fee for Course 47 applied from the academic year 2022-23 to 2025-26 for general programmes of law, international commercial law and business administration is 151 million VND (6,455 USD). The tuition fee for remaining general majors range from 179 million VND to 205 million VND per course. For high-quality programmes of administration and law, a student would have to spend … [Read more...] about Universities increase school fees despite MoET’s proposal

Mai Phan Loi at court (Photo: VNA) Hanoi (VNA) – The High-Level People’s Court of Hanoi has reduced the prison sentence handed down to Mai Phan Loi , Chairman of the Scientific Council of the Centre for Media in Educating Community (MEC), by three months in an appeal trial on August 11. Accordingly, Loi will spend 45 months in prison for tax evasion instead of 48 months in the first-instance verdict. His accomplice Bach Hung Duong, MEC Director, also received a revised sentence of 27 months, down from 30 months. MEC was founded in 2012 under a decision by the Vietnam Union of Science and Technology Associations. It is funded mostly by grants and donations from domestic and foreign organisations. As a stakeholder, Chairman of the Founding Board and Chairman of the Scientific Council of MEC, Loi directed MEC’s all activities. From 2012 to March 2021, MEC recorded funding of over 19 billion VND (826,000 USD), but whenever MEC received financial support, Loi … [Read more...] about Mai Phan Loi has jail term reduced by three months

Prime Minister Pham Minh Chinh speaks at the conference (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh urged the business community and associations to take specific solutions and join hands with ministries, sectors and localities to remove difficulties, towards promoting economic recovery and sustainable development. Chairing at a Government to Business (G2B) conference on August 11, PM Chinh said thanks to tireless efforts over the last two years, Vietnam has managed to contain the COVID-19 pandemic, with stable macro-economy, inflation under control and positive economic growth . He asked for more efforts to improve the business and investment environment and accelerate the reform of administrative procedure s; build industry strategy and planning; and develop socio-economic infrastructure, towards creating favourable for businesses to build long-term and sustainable business, production and investment orientations. Participants at the meeting … [Read more...] about PM asks for greater efforts to promote sustainable recovery

Police officers on May 18, 2009 announced a decision to deport Viet Tan member Nguyen Van Be, a Vietnamese in Australia. (Photo: VNA) Hanoi (VNA) – The Viet Tan terrorist organization has made use of the internet, especially social media, to conduct propaganda and entice people to join its disguised groups on the internet. Under the cover of making social criticism and struggling for democracy, national sovereignty and territorial integrity, those groups in fact spread distorted information on the Party and State’s policies and guidelines in order to spur the hostile attitude among a part of the people. Making use of East Sea situation to undermine the administration Recently, using the complicated developments in the East Sea after China brought its survey vessels into Vietnam’s exclusive economic zone, Viet Tan coordinated with other reactionary groups and associations to hold a series of demonstrations in many countries in order to incite its members and political … [Read more...] about What’s new in Viet Tan’s schemes?

Hanoi (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 11. - A Government to Business (G2B) conference was opened on August 11, providing a platform where the Government can explore the private sector’s opinions and proposals. Presided over by Prime Minister Pham Minh Chinh, the hybrid event brought together cabinet members, representatives from Party and National Assembly’s committees, local administrations, industry leaders, and businesses. Read full story - National Assembly (NA) Chairman Vuong Dinh Hue has sent a congratulatory letter to the newly-elected Japanese President of the House of Councillors Hidehisa Otsuji. In the letter, the Vietnamese top legislator showed delight at the progress of the Japan-Vietnam Extensive Strategic Partnership for Peace and Prosperity in Asia, including the ties between the two legislatures. Read full story - The National Assembly (NA) Standing Committee looked into the … [Read more...] about ☕ Afternoon briefing on August 11

With the peak summer travel season drawing to a close, Vietnam’s international tourism segment still faces bottlenecks on its route to full recovery. Within the framework of a program early this week to discuss the current state of the Vietnamese tourism sector, representatives from businesses and organizations across the country voiced doubts that Vietnam will meet its goal of welcoming five million foreign tourists by the end of the year if regulations governing visa policies, infrastructure, and personnel are not relaxed. Incomplete recovery According to Cao Thi Tuyet Lan, sales manager at Viettours Incentives & Events Co. Ltd., foreign tourists still find it difficult to enter the country despite Vietnam having fully reopened its borders. “What's more, it is hard to apply for visas for business travelers who work with domestic enterprises," Lan said. “[The domestic partner] first has to register [the foreign partner] with the Immigration Department, then wait for a … [Read more...] about Vietnam still struggles to welcome back int’l tourists

Illustrative image (Source: VNA) Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,163 VND/USD on August 11, down 11 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,857 VND/USD and the floor rate 22,468 VND/USD. The opening-hour rates at many commercial banks increased. At 8:30 am, BIDV listed the buying rate at 23,250 VND/USD and the selling rate at 23,530 VND/USD, both up 5 VND from the end of August 10. Vietcombank kept both rates unchanged at 23,220 VND/USD (buying) and 23,530 VND/USD (selling)./. VNA … [Read more...] about Reference exchange rate down 11 VND on August 11