Oil price rises

On the Ho Chi Minh Stock Exchange, the VN-Index increased 1.27 per cent to close Friday at 1,310.05 points, expanding the weekly gain to 3.3 per cent. — VNA/VNS Photo Shares are expected to move positively this week on significant growth of both scores and liquidity, brokerages said. On the Ho Chi Minh Stock Exchange, the VN-Index increased 1.27 per cent to close Friday at 1,310.05 points, expanding the weekly gain to 3.3 per cent. An average of 523 million shares were traded on the southern exchange during each session last week, worth VND17 trillion (US$738.6 million). “The VN-Index exceeded the 1,300-point mark last Friday with an increase in liquidity,” said experts from BOS Securities Joint Stock Company (BOS). “Technical indicators all show the possibility that the market will continue to gain in the coming sessions. Most likely, VN-Index will maintain its uptrend and head to the area of ​​1,330 points next week," they said. Sharing the same view, MB Securities Joint …

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EVFTA - A catalyst for Vietnamese businesses: diplomat The European Union-Vietnam Free Trade Agreement (EVFTA) has created a favourable corridor for trade between the two sides and brought new impetus to economic cooperation between Vietnam and the EU, Nguyen Van Thao, head of the Mission of Vietnam to the EU, has said. Thao, who is also Vietnamese Ambassador to Beligum and Luxembourg, told Vietnam New Agency in an interview on prospects for further promoting the EVFTA in the future. He said the agreement took effect on August 1 last yer at a hard time when EU countries were very heavily affected by the COVID-19 pandemic. This year, the pandemic has  continued to break out in Southeast Asian countries. Vietnam is not an exception. The country has also suffered big impacted by the pandemic. However, trade turnover between Vietnam and the EU still reached 50 billion USD last year, and grew by 4.5 percent in the last five months of 2020. This was an encouraging …

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Making Covid-19 management people-centric By Nguyen Quy Tam –Huynh Nhat Nam(*) Random Covid-19 tests are being taken in HCMC… - PHOTOS: N.K. The digital era poses challenges to policymaking and public governance, the greatest of which pertains to swift changes in technology, expectations and adaptability. Professor David Eaves from Harvard Kennedy School and other public policy professors at eight big universities in the United States, Canada, the United Kingdom, Germany, Estonia and Singapore have embarked on research and identified eight competencies that a public leader must develop in the digital era, including user empathy, understanding of digital risks, the ability to coordinate across sectors, agile iterative thinking, understanding of systemic barriers, open-mindedness and the ability to identify and use data for policymaking. User empathy Empathy is essential as being aware of the needs and experiences of users will lead to flexible, appropriate and …

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Enterprises need breathing machines, too By Assoc. Prof. Nguyen Khac Quoc Bao(*) Up to 60% of HCMC’s GDP (Gross Domestic Product) comes from the service sector; yet it has almost come to a halt because of the social distancing, which is both prolonged and stricter - PHOTO: LE VU Mechanical ventilators help Covid-19 patients maintain respiration after their lungs have been damaged by the coronavirus. From the economic viewpoint, it is almost the same when the economy is more ailing and enterprises are exhausted. Without timely and effective measures, the current situation would get even worse. Businesses are the kingpin of the economy and one of the key factors which help Vietnam win a “dual goal,” which is disease prevention and high economic growth, in 2020. It was the resilience and flexibility of businesses—particularly those in the private sector—which shored up Vietnam during the social distancing orders imposed to fight the pandemic last year. Accumulation and …

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Tokin Electronics Việt Nam Co., Ltd in Đồng Nai Province has arranged temporary accommodation for its workers. — Photo www.sggp.org.vn HCM CITY — Many businesses in HCM City are at risk of losing market share if suspension of operations due to the COVID-19 outbreak continues. More than 12,000 businesses in the country have had to stop operations or scale down each month since the pandemic hit the country, according to the Ministry of Planning and Investment. A number of businesses in HCM City had to suspend operations because they did not fully observe disease prevention and control measures to ensure employees’ safety as required by city authorities. Lý Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said the association’s member enterprises had given priority to maintaining business and production but they were still encountering difficulties, including congestion and an increase in the cost of goods transport. The lack of drivers and means of transport …

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Many residents in Ho Chi Minh City have reported a price upswing, coupled with late conveyance and constant cancelations, on delivery apps like Grab, Ahamove, and Now, which could be attributed to a shortage of delivery workers during the extended social distancing period that the city is going through. Quynh Anh, a resident of District 12 in Ho Chi Minh City, said she has relied on an app-based delivery service to source groceries from the nearby Co.op To Ky Supermarket for quite some time. After the city has been put under an extended social distancing drive that forced everyone to stay home since late May, the service was shut down, leading her to find groceries at a shop farther away in Go Vap District. However, she no longer has that option as a recent update in Ho Chi Minh City's epidemic prevention guidelines stated that delivery workers are not allowed to travel cross-district, except for some necessary cases. In a desperate attempt, she contacted another supermarket …

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Harvesting tea. (Photo: VNA) Thai Nguyen (VNA) – Specialty tea grown in the northern province of Thai Nguyen has obtained collective trademark protection in the US, mainland China, Taiwan (China) and Russia, setting the scene for the product to gain a stronger foothold in the global market. Thai Nguyen, located 75 km to the north of Hanoi, is home to the country’s largest tea growing area. The province is well-known for its green, aromatic and black teas. Tea plants have been grown in Thai Nguyen for around 100 years. Currently, there are more than 22,600 hectares of tea cultivation in Thai Nguyen, with an average output of over 244,500 tonnes of fresh tea leaves each year. More than 80 percent of the local tea area is grown under VietGAP standards. Last year, its tea production reached 5.58 trillion VND (242.3 million USD), accounting for 44.3 percent of the local agricultural value. The province earned around 270 million VND per hectare of tea in average. Its tea …

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When the pandemic resurged in the second quarter, the land segment became quiet while housing sales declined and supply plunged. The analysts said the situation could only improve when the outbreak is controlled and mass vaccination becomes available. DKRA Vietnam deputy general director of sales and marketing Tran Hieu forecast things to remain quiet throughout Q3 since many localities could remain locked down till mid-August. Also called "ghost month" in the lunar calendar, people refrain from buying and selling properties during this period. He had two cautious scenarios for the market. In the first, HCMC will be able to control its outbreak by October and people return to a somewhat normal life with basic Covid-safe measures and businesses began boosting sales for the year-end peak season. In the second, the market remains gloomy throughout Q4 and only recovers after Lunar New Year 2022, which falls in February of the year.Many companies have opted to wait until the market …

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A farmer in Bắc Giang Province harvest lychees that meet standards for export to Japan. — VNA/VNS Photo The coronavirus outbreak has created obstacles to production and trade, while severe natural disasters such as drought and saltwater intrusion, especially in the Mekong Delta, along with plant and animal diseases posed further challenges to the sector this year. Most key agricultural exports posted declines in the early months of 2020. Facing that fact, the agricultural sector has conducted policies flexibly to fulfil export targets, Minister of Agriculture and Rural Development Nguyễn Xuân Cường said. Thanks to that, agro-forestry-fishery exports are forecast to surpass the goal of $41 billion this year. Exports to nearly 200 markets, including large markets such as the US, the EU, Japan, and China, earned Việt Nam second place in Southeast Asia and 15th in the world in terms of agro-forestry-fishery exports, he said. The sector has also managed to pave the way for …

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