Business

WB: Vietnam’s economy stays resilient to external shocks

WB: Vietnam’s economy stays resilient to external shocks

While Viet Nam remains significantly exposed to the COVID-19 outbreak and the ongoing turbulence in the global financial markets, its economy stays resilient to external shocks in the first few months of 2020.

The agricultural, forestry and fishery sector enjoyed nearly US$2.9 billion in trade surplus in the first quarter of 2020, up 48.9% over the same period last year.

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Up to 18,600 firms suspend operations in Q1 due to COVID-19

Up to 18,600 businesses were forced to suspend operations in the first quarter of 2020 due to the COVID-19 pandemic, up 26 percent year on year, reported the General Statistics Office (GSO).

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Da Lat demolishes illegal hotel construction

The authorities in Da Lat City have started a forced removal of an illegally-built four-star resort project at Tuyen Lam Lake.

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Finance ministers and central bankers of the Group of 20 major economies will hold a second round of virtual talks Tuesday to push ahead the coronavirus response, the Saudi hosts said.

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Hanoi’s CPI rises 5.23 percent in Q1

Theconsumer price index (CPI) of Hanoi in the first quarter of 2020 increased by 5.23 percent against the same period last year, according to the municipal Statistics Office.

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Vietnam gains higher exports to Canada, Mexico partly due to CPTPP

Vietnam has taken full advantage of the CPTPP to gain strong growth in exports to Canada and Mexico, according to the Ministry of Industry and Trade (MoIT).

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More firms produce Covid-19 mobile disinfection chambers

Amid rising demand for virus prevention, more types of mobile disinfection chambers have been introduced in various public places in Vietnam.

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As many as 706 enterprises, 85 percent of 832 listed companies on the Vietnamese stock market, generated profits during the third quarter of this year.

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The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission.

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Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

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Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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