The global health crisis caused by the COVID-19 pandemic has rapidly become a worldwide socio-economic crisis. In Vietnam, how will this crisis affect the economy and employment of workers in the future?
The Vietnam Oil and Gas Group (PetroVietnam) will continue cutting costs and optimizing all resources while boosting sales to cushion the impact of the COVID-19 pandemic on the oil and gas industry, the group’s recent online meeting heard.
The Lao Government on April 2 issued a series of urgent measures to ease difficulties in production and business, as well as ensure social welfare amid the outbreak of the COVID-19 pandemic.
Many enterprises in the manufacturing and processing industry are optimistic about the outlook for the second quarter of 2020, according to a survey conducted by the General Statistics Office (GSO).
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).
The Government’s plans to increase capital for large State-owned commercial banks in the first quarter of this year could be delayed due to the Covid-19 outbreak, analysts predicted.
Indonesia's state budget deficit is expected to reach 2.2-2.5 percent of the country’s gross domestic product (GDP) this year as the new coronavirus-caused acute respiratory disease (COVID-19) has hindered global economic activities, Finance Minister Sri Mulyani Indrawati said.
Support packages from the Government and banks would contribute to partly reducing difficulties for enterprises affected by COVID-19, but stronger measures should be taken for the hardest-hit industries, experts said.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu asked lenders to not raise interest rates to support enterprises affected by the outbreak of the novel coronavirus (2019-nCoV), during a conference on February 6.
The Ministry of Finance has revealed that twelve out of 136 wholly state-owned enterprises had posted losses of 720 billion VND in total (31 million USD) in the first half of last year, and six others faced warnings regarding financial security.
It was a surprise as a number of domestic commercial banks have reported big profits after years of poor performance, but this showed the country’s business environment has improved.
The application of Basel II is considered the fundamental restructuring solution creating the foundation for promoting the safety, healthy development and competitiveness of the banking system.
Demand for investment capital at the Vietnam Oil and Gas Group (PetroVietnam) and its member units for 2018-20 is estimated to reach 620 trillion VND (26.7 billion USD), PetroVietnam Securities Inc (PSI) recently announced.
The PetroVietnam has fulfilled key business targets for 2019 in terms of oil and gas production, total revenue, after-tax profit and State budget contribution before the year-end.
Investors should make careful decisions when purchasing corporate bonds, especially coming with high yield rates, to avoid risks, the Ministry of Finance (MoF) has said.
The non-State sector is playing a greater role in the economy with its proportion in the society’s total investment rising fastest among all economic sectors’.
Society
