- THE MOUTHPIECE OF THE VIETNAM ASSOCIATION OF SMALL AND MEDIUM ENTERPRISES
The cryptocurrency market saw a historic decline in the second quarter of 2022 in the face of pressure to raise interest rates by global central banks and persistent inflation. At the end of the first quarter of 2022, the cryptocurrency market size exceeded $2,165 billion, by the end of the second quarter of 2022, the market capitalization had dropped to around $850 billion, a decrease 60.7% stunned investors in this market.
Labor unit prices climbed by 20-30%, but construction firms still struggled to recruit employees; labour in the tourist sector declined by 55-60%, and many 5-star hotels were hesitant to reopen. Raw materials are in low supply, driving up prices, logistical costs are high, manpower is scarce, and financial availability remains limited.
Following the direction of the Provincial Party Committee, the People's Council, the Provincial People's Committee, and the Ministry of Industry and Trade, the Department of Industry and Trade of Phu Tho province has coordinated actively with relevant departments, branches, and units to continue implementing the "People's Republic of China" campaign effectively. Vietnam emphasizes employing Vietnamese products" in the current environment (Post-COVID) has considerably helped to the socio-economic recovery and growth of the province.
It is estimated on June 20, 2022, total capital registered for new foreign direct investment capital, adjusted and contributed capital to buy shares of foreign investors has reached over $14.03 billion, an increase of 91.1 per cent over the same period in 2021, according to Foreign Investment Agency (Ministry of Planning and Investment).
Mr Nguyen Hoai Nam, Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), stated at the CEO Forum "Removing Difficulties for Seafood Enterprises - An Insider's Perspective" recently held in Ho Chi Minh City that currently, seafood materials from other countries are increasing strongly, which may cause import prices in the US to decrease, and there is also fierce competition among suppliers.
During the first half of the year, the only industry in Ho Chi Minh City declined, namely the real estate business, which declined by 5.82%. Three out of nine industries grew by less than 6%, including wholesale and retail, which increased by 3.10%; accommodation and food services, which increased by 2.08%; and education and training, which increased by 4.99%.
From the beginning of 2022 until the present, the whole nation has been in a state of simultaneous recovery in all areas. As a result, there is an urgent need for local and international routes to be "opened" and "connected" to satisfy rising passenger demand.
Vietnam is set to grant a licence under the Voluntary Partnership Agreement/FAO-EU Forest Law Enforcement, Governance and Trade (FLEGT) Programme to wood exports in 2025, after it completes preparing necessary conditions, reported a government official familiar with the sector.
Experts have raised strong support for a comprehensive reform for the draft revised Petroleum Law that will help further develop the country’s oil and gas industry.
The Ministry of Construction (MoC) has proposed controlling the bond issuance activities of real estate enterprises but not tightening investment in real estate bonds, Nguyen Manh Khoi, Deputy Director of MoC's Housing and Market Management Department, said at the monthly press conference held on June 13.
Vietnam will see more realty projects invested by businesses from the Republic of Korea (RoK) in the coming time as they are seeking opportunities to enter and expand operations in the country, according to Andrew Lee, Korean Desk Manager at real estate consultancy Savills Vietnam.
The regional-based minimum wage will officially increase by 6 per cent from July 1, following Decree No.38/2022/ND-CP promulgated on June 12.
There remains untapped potential for Vietnam's exports of agricultural and food products to major markets in Asia, Europe and America, but it is important for Vietnamese enterprises to improve the quality of their products, sharpen their competitiveness, and better grasp current international consumption trends, experts have said.
The People's Committee of Quang Binh province recently hosted a conference to meet businessmen and investors involved in tourism and services in order to propel the region's tourist sector forward in the next years...
Before the effects of COVID-19, around 80% of users used cards, QR codes, and e-wallets at least once a week. Approximately half of the respondents stated they had begun to use cards more often, while 64 per cent and 63 per cent of users have increased contactless payments through mobile phones and e-wallets, respectively.
According to the Chairman of the Economic Committee, this new draft bill removes limitations permitting insurance companies to employ idle cash for real estate activity.
The Khanh Hoa Provincial People's Committee has decided to issue laws establishing a 5-year periodic land price list for the period 2020-2024 in Khanh Hoa province.
The Ministry of Natural Resources and Environment (MONRE) has recently issued a paper to the People's Committee of Dong Nai province demanding further land-related documents to fulfil the province's land-management inspection.
On June 2, the Embassy of Denmark in Vietnam collaborated with the Ministry of Industry and Trade in Hanoi to organize a series of events on Vietnam's energy prospects, including a discussion on Vietnam's energy prospects and the announcement ceremony of the report on Vietnam's energy prospects 2021.
In view of the important contributions of investment capital to the local economy, Vietnam needs immediate solutions to attract more FDI and strengthen its sources, according to experts.