Connect with us

Business

Aviation industry asks for VND27 trillion aid-package

Published

on

The Vietnam Aviation Association is soliciting assistance from the Government.

Hàng không xin hỗ trợ 27.000 tỷ đồng

The Covid-19 pandemic has seriously hit the aviation industry.

The Prime Minister has assigned the Ministries of Transport and Finance and relevant agencies to consider the Vietnam Aviation Association’s proposal for another aid package.

In a letter submitted to the National Assembly Chair and the Prime Minister, the Vietnam Aviation Association said that the Covid-19 epidemic has adversely affected the economy and the local aviation industry and this will last for many years to come.

The Vietnam Aviation Association proposed that the Government continue granting aid packages for airlines, including: a credit support package to improve solvency worth VND25 – VND27 trillion; restructuring of the foreign debt payment period for pandemic-hit firms until the end of 2024; reduction of fees and charges for a number of aviation services and activities; reduction of 50% of the concession fee for airport and airport operations; relaxation of tax and financial duty for some businesses; and further reduction of environmental protection tax on aviation fuel (at least 70% reduction) in 2021.

Regarding the expansion of the international market, the Vietnam Aviation Association recommended step by step resuming commercial flights from countries with large numbers of passengers or with great potential for passengers, where the epidemic has been controlled, both from and to Vietnam.

US$1 = VND22,900

Vu Diep

Source: https://vietnamnet.vn/en/business/aviation-industry-asks-for-vnd27-trillion-aid-package-717825.html

Business

VN-Index drops with trade value surges

Published

on

VN-Index drops with trade value surges

An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.


Vietnam’s benchmark VN-Index fell 0.7 percent to 1,241.81 points Friday with trading value hitting a 10-session high.

The index stayed in the red throughout the day, dipping to around 1,231 points in the early afternoon before climbing and ending with a near 9-point fall. This is its biggest plunge in the last seven sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 10 percent to VND22.4 trillion ($975 million), the highest of the past 10 sessions.

The VN30 basket, comprising the largest 30 capped stocks, saw 22 tickers in the red, with VCB of state-owned lender Vietcombank and VNM of dairy giant Vinamilk the biggest contributors to the drop of VN-Index.

VCB fell 2.3 percent. The ticker has been going sideways around the VND100,000 level since February after climbing to a new historic peak of VND107,000 in early January.

VNM dropped 2.9 percent to a nine-month low. The ticker continued its downward trend that began in January, having lost 25 percent in four months.

VHM of real estate giant Vinhomes fell 1.6 percent to its lowest level since March 30.

BID of state-owned lender BIDV lost 1.5 percent, having fallen nearly 17 percent since its mid-January peak.

On the winning side, HPG of steelmaker Hoa Phat Group rose 2.4 percent, and CTG of state-owned lender VietinBank gained, 2.1 percent. They were the top tickers pushing up the VN-Index this session.

Foreign investors were net sellers for the fifth session in a row to the tune of VND330 billion, with the strongest pressure on VPB of private lender VPBank and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.44 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.41 percent.

Source: https://e.vnexpress.net/news/business/vn-index-drops-with-trade-value-surges-4267353.html

Continue Reading

Business

Inflation fears begin as economy recovers

Published

on

Customers shop at a supermarket in HCM City. VNA/ Photo

HCM CITY — The cost of raw materials used in many industries have risen sharply in the last few months, putting pressure on the prices of many essential goods.

Instant noodles, seasoning, cooking oil, and others have seen prices increase by 7 -10 per cent since the end of 2020.

The price of meat and poultry has increased by 10 -15 per cent.

Nguyễn Thị Trâm, a pig farmer in Đồng Nai Province’s Thống Nhất District, said the price of a 25kg bag of bran has increased from VNĐ245,000 in October last year to VNĐ295,000 now.

Prices of raw materials used to make feed, such as corn, rice bran and fish flour, are also rising.

But farmers cannot hike poultry price since they have to compete with cheap imported products.

Globally, the prices of raw materials and fuels are expected to rise again as COVID is gradually controlled, vaccination is done on a large scale and production and trade recover.

Dr Nguyễn Ngọc Tuyến of the Academy of Finance predicted the consumer price index (CPI) to rise more than last year but remain below 4 per cent for the year, the target set by the National Assembly.

Nguyễn Anh Tuấn, director of the Ministry of Finance’s price management department, warned there would be pressure on prices this year because of the rise in fuel prices.

But a spokesperson for a large supermarket chain in HCM City said the price of each item would be carefully considered before any increase is made, and essential goods are not expected to be affected much in general. —

Source: https://vietnamnews.vn/economy/942930/inflation-fears-begin-as-economy-recovers.html

Continue Reading

Business

FTA providing impetus for Việt Nam – Chile trade

Published

on

Deputy Minister of Industry and Trade  Đỗ Thắng Hải  (centre) poses for a group photo with participants of the meeting in Hà Nội. — Photo courtesy of MOIT

HÀ NỘI — Despite there being no commitments on services and investment in the Việt Nam – Chile Free Trade Agreement (FTA), the pact has boosted trade and economic ties between the two countries.

The view was shared at the fourth meeting of the Việt Nam – Chile free trade council, which was held online and chaired by Deputy Minister of Industry and Trade (MoIT) Đỗ Thắng Hải and Vice Minister of Trade at Chile’s Ministry of Foreign Affairs, Rodrigo Yanez on Thursday.

According to the Ministry of Industry and Trade’s European – American Market Department, the two countries have enjoyed robust relations over the years.

Despite the difficulties posed by the COVID-19 pandemic, two-way trade in 2020 topped US$1.28 billion, up 4.43 per cent year-on-year and 2.5-fold higher than the figure recorded in 2013, prior to the FTA coming into effect.

Chile is one of Việt Nam’s four largest trade partners in Latin America, while Việt Nam is the largest trade partner of Chile in ASEAN.

Goods trade in the first four months of this year rose 15.3 per cent year-on-year to $401.1 million, with Việt Nam’s exports standing at $321.3 million, up 11.8 per cent.

Both sides recognised the efforts made to implement the FTA.

The subcommittee for trade in goods discussed matters regarding tariffs and origin of goods and considered the application of electronic certificates of origin to simplify procedures for exporters in both countries.

Meanwhile, the subcommittee for hygiene and phytosanitation worked on import procedures for several agricultural products.

Việt Nam has begun risk analysis on Chilean kiwi fruit while the South American country said it will begin analyses of Vietnamese rambutan in July.

Both agreed to step up measures to help Vietnamese and Chilean businesses capitalise on the Việt Nam – Chile FTA as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) after it is ratified by Chile. —

Source: https://vietnamnews.vn/economy/942657/fta-providing-impetus-for-viet-nam-chile-trade.html

Continue Reading

Trending