Some 51,600 new firms established in four months
Vietnam has more than 15,300 newly established enterprises in April. - Illustrative image (Photo: VNA)– As many as 51,600 new enterprises with total registered capital of nearly 508 trillion VND (20 billion USD) were established in the first four months of 2024, representing year-on-year increases of 3.4% in the number of businesses and 9.3% in the capital, according to the General Statistics Office (GSO).These new businesses registered a total of 353,800 workers, a rise of 6.8% over the same period last year.The average registered capital of a new enterprise in the first four months of 2024 rose by 5.7% year on year to 9.9 billion VND.In April, Vietnam had more than 15,300 newly established enterprises with registered capital of 175.8 trillion VND, up by 8.4% in number of businesses and 55% in registered capital month on month.The average registered capital of a new enterprise in April stood at 11.5 billion VND, up 42.9% over the previous month.In addition, 8,307 businesses returned to operation in April, an increase of 175.1% over the previous month.Along with 533.4 trillion VND from increasing capital of 14,143 existing enterprises, the total registered capital poured into the economy in the first four months was more than 1 quadrillion VND, down 2.6% compared to the same period last year.The GSO also said that about 29,700 businesses resumed their operation in the first four months, an increase of 2.4% over the same period in 2023, bringing the total number of newly established businesses and businesses returning to operation during the four months to 81,300 units, an increase of 3% over the same period last year.Meanwhile, in the first four months, the number of enterprises temporarily suspending operation was 60,900, an increase of 21.9% over the same period last year. About 19,100 businesses stopped their operations to wait for dissolution procedures, down 9%, and 6,400 businesses completed dissolution procedures, an increase of 4.9%.Of which, 7,618 businesses registered in April to temporarily suspend business, an increase of 84.1% compared to the previous month. About 4,656 businesses stopped operation to wait for dissolution procedure s, down 6.5%./.
Source:Viet Nam News
May 02, 2024 14:39 UTC
Growth engines rev up in first four months
The Vietnamese economy is expected to carry momentum in the months to come. (Photo: VNA)The Vietnamese economy is expected to carry momentum in the months to come after experiencing improvements in foreign direct investment (FDI) attraction, industrial production , and retail sales , among others, in the first four months of this year, experts have said.The General Statistics Office (GSO) reported that the macro economy remained stable, inflation was controlled and major economic balances were ensured during the period.Specifically, the country’s April consumer price index (CPI) inched up 0.07% month-on-month, and 4.4% year-on-year. In the four months, it grew by 3.93% year-on-year, and the core inflation was up 2.81%.State budget revenue was stood at 175.6 trillion VND (6.91 billion USD) last month and 733.4 trillion VND in the January-April period, equivalent to 43.1% of the yearly estimate, and up 10,1% year-on-year.In April, the country’s total trade value reached some 61.2 billion USD, down 5.2% from the previous month, but up 15% compared to the same period last year. The figure hit 238.88 billion USD in the first four months, up 15.2% year-on-year, with exports up 15%, imports up 15.4%, and a trade surplus of 8.4 billion USD.For FDI disbursement, it increased 7.4% year-on-year to 6.28 billion USD, the highest in a January-April period recorded over the past five years.Former General Director of the GSO Nguyen Bich Lam, however, said that the recovery pace remains modest, elaborating that the index of industrial production in April edged up only 0.8% from the previous month.Moreover, agriculture – a pillar of the national economy – is facing drought and saltwater intrusion, which would affect food production and husbandry, Lam added.Given the global economic volatility and extreme weather patterns, the agro-forestry-fishery sector is forecast to encounter more difficulties in the time ahead, he said.To help the national economy sail through headwinds and recover quickly and sustainably, economists have suggested the Government and localities focus on boosting domestic consumption, raise service quality, and reduce air fares to promote domestic tourism and attract more international visitors.They also suggested the roll-out of preferential credit packages for major sectors, and tax incentives, the completion of legal documents on exports and imports, trade promotion activities, and market diversification.Businesses should bring into full play opportunities and commitments of trade agreements to boost exports, keep updated on market information, and seek new orders and markets, they said.Lam held that the Government should implement fiscal and monetary policies flexibly, and work to reduce monetary inflation pressure on the economy, adjust exchange rates flexibly to stabilise the prices of imported raw materials, and improve the competitiveness of home-made products./.
Source:Viet Nam News
May 02, 2024 14:39 UTC
Thailand's exports down 10.9% in March
(Photo: AFP/VNA)Bangkok (VNA) - Thailand's customs-based exports fell 10.9% in March from a year earlier, weaker than analysts' expectations while exports to China and Japan fell 9.7% and 19.3%, respectively, according to the Ministry of Commerce. The decline is higher than the forecast of a 4.5% year-on-year fall for March in a Reuters poll and followed a 3.6% increase in February. The country's exports fell 0.2% in the first quarter of this year but agriculture and computer parts will help shipments recover and expand 2% in the second quarter, Director-General of the Trade Policy and Strategy Office Poonpong Naiyanapakorn told a press conference. Exports, a key driver of Southeast Asia's second-largest economy, unexpectedly shrank 0.6% in the final quarter of 2023 from the third quarter, prompting the state planning agency to cut its 2024 growth outlook to between 2.2%-3.2% from the 2.7%-3.7% earlier projected. According to Chaichan Chareonsuk, Chairman of the Thai National Shippers Council, if the baht remained around current levels it could help drive sales of auto parts, fruits and agricultural products./.
Source:Viet Nam News
May 02, 2024 07:39 UTC
phData is proud to announce that it has been awarded the prestigious "Best Place to Work" certification for 2024
The prestigious award is based on the evaluation of the company HR practices along with employees’ feedback. This year, 95% of employees said phData is a best place to work, compared to just 74% at the typical Indian tech company., “phData is extremely delighted to be awarded as the Best Places to Work in India. This is a very proud moment for all of us at phData. They are focused on delivering data products and platforms using Snowflake and modern data technologies. They help with end-to-end services to architect, deploy, and support machine learning and data analytics on Snowflake.
Source:Viet Nam News
May 02, 2024 07:33 UTC
Denmark’s First Female Prime Minister Joins AUW as a Patron
The Lone Dybkjaer Foundation was expressly established under the stewardship of Ms. Dybkjaer's husband, Poul Nyrup Rasmussen – who served three terms as Prime Minister of Denmark. Prime Minister Thorning-Schmidt said "I am delighted to be joining the Asian University for Women as a Patron. Prime Minister Rasmussen said "I am enormously pleased that my friend Prime Minister Helle Thorning Schmidt is joining AUW as a Patron. As the Prime Minister of Denmark, she caused a significant increase in Danish support for education. The AUW Council of Patrons is chaired by Chief Patron Sheikh Hasina, Prime Minister of Bangladesh.
Source:Viet Nam News
May 02, 2024 04:25 UTC
Vietnam News Headlines May 2/2024
He led the struggle for national independence and established the Democratic Republic of Vietnam, now the Socialist Republic of Vietnam, in 1945. The mausoleum has become an important landmark of the capital city and is integral to the political and social history of Vietnam./. At the local level, it is necessary to include the efforts in tourism development strategies and investment cooperation, they held. The two localities signed a memorandum of understanding on cooperation in April 2023 to promote tourism development and people-to-people exchanges./. The hamlet is home to the Dao Quan Chet people, a branch of the Dao ethnic group in Vietnam.
Source:Viet Nam News
May 02, 2024 02:41 UTC
Market likely to face some fluctuations
HÀ NỘI — Despite choppy sessions last week, the domestic stock market still posted a weekly gain, with the VN-Index breaking over to the 1,200 point-level. However, the recovery trend is challenged as liquidity stayed low, while investors are likely to be reluctant to return to the market this week after long holidays. Conversely, PV Gas (GAS) had a negative influence on the market, erasing nearly 0.85 points from the VN-Index last week. Technically, the market showed signs of recovery last week, raising expectations of reaching a resistance level of 1,215-1,230 points. The market is expected to experience some fluctuations as it continues its recovery towards the 1,225 point-level.
Source:Viet Nam News
May 02, 2024 02:02 UTC
Việt Nam shares experience in economic development, population affairs to achieve SDGs
NEW YORK — Deputy Minister of Planning and Investment Trần Duy Đông highlighted Việt Nam's efforts and achievements in economic development and population affairs to achieve sustainable development goals (SDGs) while addressing the 57th session of the Commission on Population and Development (CPD57) of the UN Economic and Social Council (ECOSOC). He also mentioned solutions taken by the Government to reduce poverty and ensure gender equality. Đông and other delegates reviewed the implementation of the Programme of Action of the International Conference on Population and Development (ICPD) over the past more than 30 years, and the SDGs, and proposed solutions to the present challenges. On the sidelines of the session, which took place on April 29-30, the Vietnamese delegation, together with Australia, Laos and Cambodia, co-chaired an event on optimising outcomes of the ICPD to boost sustainable development and growth. The commission gives advice to the council on population issues and trends, and monitors and assesses the implementation of the Programme of Action of the ICPD.
Source:Viet Nam News
May 01, 2024 19:57 UTC
Thailand has new foreign minister
World Thailand's exports down 10.9% in March Thailand's customs-based exports fell 10.9% in March from a year earlier, weaker than analysts' expectations while exports to China and Japan fell 9.7% and 19.3%, respectively, according to the Ministry of Commerce. World Thai expert raises alarm over rising COVID-19 admissions, dealths A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases. World IMF makes new recommendations for Indonesia’s economy The International Monetary Fund (IMF) has given some comments on Indonesia’s economy as the country is undergoing a government transition from President Joko Widodo to President-elect Prabowo Subianto, at a recent press briefing on the Asia Pacific Department Regional Economic Outlook April 2024.
Source:Viet Nam News
May 01, 2024 18:11 UTC
Condolences to Cambodia over ammunition base explosion
Smoke billows from a warehouse following an explosion at an army base in Cambodia. (Photo: AFP)Hanoi (VNA) – Acting President Vo Thi Anh Xuan on April 30 sent a message of condolences to Cambodian King Preah Bat Samdech Preah Boromneath Norodom Sihamoni over heavy losses of lives and assets from an ammunition base explosion in Kampong Speu province, Cambodia. On the occasion, Prime Minister Pham Minh Chinh also cabled a similar message to his Cambodian counterpart Samdech Thipadei Hun Manet. The same day, Minister of Foreign Affairs Bui Thanh Son extended his sympathy to Cambodian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea. The April 27 explosion killed at least 20 soldiers and wounded several others, according to local media./.
Source:Viet Nam News
May 01, 2024 16:01 UTC
Vietnam's National Reunification Day marked worldwide
Speaking at the event, Ambassador Vu Trung My noted that Vietnam’s victory on April 30, 1975 is a great achievement in the cause of national liberation led by the Communist Party of Vietnam and President Ho Chi Minh. The same day, the Vietnamese Veterans’ Association in Russia also held a ceremony in Moscow to mark the event. On the occasion, Mexican and Argentinian media ran articles highlighting the April 30, 1975 victory of the Vietnamese people. Since then, Vietnam has been determined to move forward on the path of national reconstruction and development. It has achieved impressive economic growth and opened its door to the world over the past decades./.
Source:Viet Nam News
May 01, 2024 13:35 UTC
More practical policies for hybrid vehicles proposed
HÀ NỘI — It is necessary to study proposals from experts and businesses to have more practical policies for electric vehicles, particularly hybrid vehicles. Many are willing to spend more money to buy hybrid cars, but incentives for this market should also be considered. Strategy builders aim to have a roadmap for all types of environmentally friendly vehicles, including hybrid vehicles, and to evaluate the role of hybrid vehicles in the green transition period. Many businesses and associations have proposed amendments for incentive policies for electric vehicles based on CO2 emission criteria, a method many countries use. Currently in Việt Nam, hybrid cars are also a more convenient option than electric cars.
Source:Viet Nam News
March 16, 2024 16:36 UTC
Satellite cities a focal point for new development
In this strategy, the construction sector must gradually improve the quality of urban development in terms of economy, society, infrastructure, architecture, housing, and quality of life. The sector also has to gradually connect smart cities of Vietnam with others in the region and the world. It is important to build low-carbon and green cities that have their own characteristics, take the lead in innovation, and become development momentum by 2030. By 2045, the construction sector must be capable of designing and building modern structures in various fields. It must be able to compete and expand operations in foreign markets.
Source:Viet Nam News
March 16, 2024 12:57 UTC
Changes in regulations on ".vn" domain names proposed
HÀ NỘI — The Ministry of Information and Communications (MIC) has recently proposed a number of new regulations on Internet resource management, including the national domain name ".vn". Specifically, inheriting existing regulations, donating, contributing capital and inheriting the right to use the ".vn" domain name will be carried out in accordance with the law on property rights and other relevant regulations. The ".vn" domain name will be revoked if it is used against the State, violates national security, commits a violation of the law or does not pay maintenance fees. For the Vietnamese national domain name ".vn" granted by auction method of use rights, the compensation level is determined by the auction winning amount. Cumulatively registered ".vn" domain names reach 604,000, of which, nearly 19,000 ".vn" domain names have had their use rights transferred by the end of December last year.
Source:Viet Nam News
March 16, 2024 09:52 UTC
VIETNAM NEWS HEADLINES MARCH 16/2024
Ambassador Mai Phan Dung, Permanent Representative of Vietnam to the United Nations (UN), has affirmed that ensuring food security remains a top priority of countries, including Vietnam, especially in the context of climate change. The HDI is considered one of important criteria for assessing countries’ development and widely used by researchers and policymakers. According to Wesley Chua, Vice Chairman of the Singapore Chamber of Commerce Vietnam (SCCV), administrative procedures in Vietnam are still complex and could pose obstacles for foreign investors. This is the latest tournament in the Topas Vietnam Trail Series, comprising the first ultramarathon in Vietnam – Vietnam Mountain Marathon in Sapa in Lao Cai province, and races in Moc Chau in Son La province and Pu Luong in Thanh Hoa province. Vietnam works towards equal access to quality educationChief Representative of UNESCO Vietnam Jonathan Baker said on March 14 that it is crucial for Vietnam, home to many ethnic groups, to ensure equal access to education for minority students.
Source:Viet Nam News
March 16, 2024 09:24 UTC