Prime Minister Pham Minh Chinh has asked the Ministry of Industry and Trade (MoIT) to take measures to ensure the supply of all key commodities, especially fuel, and to stabilise the country's distribution channels for the economy after the Tet (Lunar New Year) holiday.
IPP Air Cargo, in an unanticipated move, has withdrawn its application for a cargo flight permit, citing “worsening economic conditions”, “looming global recession” and “volatile fuel prices”, all of which likely will result in numerous challenges for global freighters.
The Vietjet Aviation JSC recorded a surge in its nine-month revenue, fulfilling 85% of the target set for this year, according to its third-quarter report.
The Ministry of Finance said it does not support removing current special consumption taxes on petroleum in response to recent calls to drop taxes from the Vietnam Chamber of Commerce and Industry (VCCI).
Vietnam’s gross domestic product (GDP) growth in 2022 can reach up to 8%, surpassing the target of 6.5%, according to Director General of the General Statistics Office (GSO) Nguyen Thi Huong.
Indonesian President Joko Widodo may announce a fuel price hike next week to reduce spending on energy subsidies, said Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan on August 19.
Fuel prices were reduced in the latest review on August 11 by the Ministry of Industry and Trade and the Ministry of Finance, the fifth consecutive time and the fourth significant drop.
External inflation has begun to affect domestic production activities in both agriculture and industry. This is driving prices skyward, a major challenge for domestic businesses.
The July consumer price index (CPI) grew 0.4% from the previous month, contributing to the year-on-year growth of 2.54% in the first seven months of 2022, the General Statistics Office (GSO) said on July 29.
Surmounting the tensest period caused by the COVID-19 pandemic, a number of enterprises have regained growth momentum. However, rising input costs are affecting their performance.
Vietnamese airlines are suffering losses amounting to hundreds of billions of dong each month due to a surge in fuel prices, according to the director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.
Escalating geopolitical tensions in the world may negatively affect economic activities and inflation in Vietnam due to weaker external demand, higher prices of commodities, and disrupted supply chains.
Supply of goods and services for the domestic market during the first half of the year has been ample with a slight uptick observed for a number of commodities, said the Ministry of Industry and Trade (MoIT) during a conference in Hanoi on June 28.
Vietnamese airlines are suffering losses amounting to hundreds of billions of VND each month due to a surge in fuel prices, according to director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.
As the international aviation is slow to recover, Vietnam is enjoying a chance to capitalise on the domestic market as a buffer step – a “taxiing” period for a rapid recovery following the COVID-19 pandemic.
The Ministry of Industry and Trade (MoIT) has put forward a proposal to increase the country's fuel reserve by as much as four times, said Le Viet Nga, Deputy Director of the MoIT’s Domestic Market Department, during a conference last week in Hanoi.
The Ministry of Finance is considering to put forward another proposal for further fuel duty cut, Minister Ho Duc Phoc told the 15th National Assembly during its third sitting in Hanoi on June 8 amid concerns over soaring fuel prices.
Malaysia’s inflation increased by 2.5 percent, driven by the rising food and fuel prices in 2021, the Department of Statistic Malaysia (DOSM) has said.
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