Business News

1. Banks rush to stimulate demand for personal credit
2. Social media payment apps test Vietnamese waters
3. Annual textile and garment exports down for first time 25 years
4. Freight and logistics stocks on the rise despite pandemic
5. Stability created with new health e-portal
----and more news

Freight and logistics stocks have seen major gains since the beginning of 2020 even as the COVID-19 pandemic has wreaked havoc on the economy.

After a period of strong negative impacts caused by the pandemic, real estate investment activities in Asia-Pacific and Vietnam in particular started to show signs of recovery in the second half of the year, and are expected to return towards a stable increase moving into 2021 and 2022.

Prime Minister Nguyen Xuan Phuc has decided to temporarily suspend commercial flights while chairing a meeting on Covid-19 response on Tuesday. The decision was made one day after the Ministry of Health the first community infection case of Covid-19 (patient numbered 1,347), ending a streak of 88 consecutive days without a single local infection.

The Ministry of Finance recently cooperated with the Vietnam Chamber of Commerce and Industry (VCCI) to organize a dialogue conference on tax and customs policies and administrative procedures in 2020. The event attracted the attendance of nearly 500 northern enterprises.

The investor has been requested to contact Ho Chi Minh City’s Public Security Department and local military department for fixing the number of units which will be able to sell to foreign buyers as part of this particular venture.

Cross-border traders in ASEAN can now take advantage of a newly-launched online customs transit management system – the ASEAN Customs Transit System (ACTS) to accelerate trade in goods by road within ASEAN.

In the wake of the limiting land funds and rocketing prices in city centre locations, developers are expanding their interest in mergers and acquisitions towards satellite towns and other areas near Vietnam’s major cities.