The Hanoitimes – Fifty local garment firms can produce 200 million per month. The figure would be higher if the production capacity nationwide is taken into account. Vietnam is capable of becoming a major exporter of cloth face masks in the world, the governmental portal reported, citing the Ministry of Industry and Trade (MoIT). According to […]
Read MoreHANOI Experts have warned that consumers may soon start defaulting on their credit card payments due to rising unemployment and salary cuts in many industries and sectors in the wake of the COVID-19 outbreak. According to the latest report on labour and employment amid the COVID-19 pandemic, the Ministry of Labour, Invalids and Social Affairs said the number of […]
Read MoreThe Hanoitimes – Prime Minister Nguyen Xuan Phuc has requested government agencies to ensure national food security and avoid shortage of rice in any circumstance. Prime Minister Nguyen Xuan Phuc has agreed to resume rice export with an amount of 400,000 tons in April. Phuc, however, requested government agencies to ensure national food security and avoid […]
Read MoreThe Hanoitimes – Vietnam central bank is ready to intervene in the foreign exchange market in case of necessity. Vietnam’s foreign exchange reserves now stand at a record high of US$84 billion, enabling the government to ensure macro-economic stability, according to the Governor of the State Bank of Vietnam (SBV) Le Minh Hung. “The SBV and […]
Read MoreThe Hanoitimes – In addition to stimulus packages, the government is scheduled to issue a comprehensive resolution detailing drastic measures to help spur economic growth. The Vietnamese government will take further bold measures to avoid economic contraction and even collapse, according to Prime Minister Nguyen Xuan Phuc. A disruption to socio-economic activities and failure to set […]
Read MoreThe Hanoitimes – Fitch also lowered Vietnam’s GDP growth projections to 3.3% in 2020 from 7.0% in 2019, on account of the pandemic. Fitch Ratings has revised the outlook on Vietnam’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Positive and affirmed the rating at ‘BB’. The outlook revision reflects the impact of the escalating […]
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