The moves to take in order to help firms ride economic wave - illustration photo The government can best help businesses by continuing its remarkable success in limiting the spread of COVID-19. The challenge now is to source vaccines and quickly vaccinate the population as supplies become available. This should remain the highest priority. Recent global success in containing the pandemic means that there are now much improved prospects for global economic recovery. The World Bank recently projected global growth of 5.6 per cent in 2021. A key question for policymakers is: What more can Vietnam do to help firms benefit from the expected improvement in the global economy? When the pandemic first started to impact the global economy, governments initially focused on actions to retain jobs and limit firm closures. Policy actions were directed at quickly increasing spending and liquidity to sustain investment and employment, and measures to reduce business costs to stimulate … [Read more...] about The moves to take in order to help firms ride economic wave
First flow of gas pumped out of Su Tu Trang oil field in phase 2A At the ceremony (Photo: VNA) Amid complicated developments of the COVID-19 pandemic, the ceremony was held online, marking the operation of the project 16 days ahead of schedule. Addressing at the event, PetroVietnam's General Director Le Manh Hung said Block 15-1 is the flagship in oil and gas exploitation activities in Vietnam, bringing benefits to all involved parties, and contributing about 10.4 billion USD to the Vietnamese Government’s budget. PetroVietnam highly valued efforts of Cuu Long Joint Operating Company (Cuu Long JOC) and its partners to completed the drillling of the oil-well on schedule, ensuring their commitments in the gas purchase and sale contract and field development plan, he said. Cuu Long JOC's General Director Nguyen Van Que attributed the success of the project to concerted efforts of Cuu Long JOC and its partners, along with the maximum support from PetroVietnam, … [Read more...] about VIETNAM BUSINESS NEWS JUNE 20
LG switching older complexities for new? The group recently announced its decision to convert the smartphone production line of its manufacturing complex in the northern port city of Haiphong to home appliances. It took the decision after the withdrawal from the smartphone market in April and failing to find buyers for its production line in the northern region. Meanwhile, LG has seen a surging demand for its premium appliances amid the stay-at-home trend during the pandemic, according to Yonhap newswire. However in Vietnam, many home appliances and electronics supermarkets have been witnessing falling revenues as the health crisis forces consumers to tighten their belts. Large holidays and sales have failed to contribute as much as in previous years. Amid the delayed 2020 European Football Championship currently taking place, most electronics retailers have been offering large discounts on TVs of up to 80 per cent, with focus being laid on wide-screen TVs. However, as the … [Read more...] about LG switching older complexities for new?