COVID-19 makes nearly 10 pct of domestic firms lack capital: official
Nearly 10 percent of Vietnamese firms lack capital and money for their business, especially micro-, small- and medium-sized enterprises (MSMEs), because of the lingering COVID-19 pandemic, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen Quang Vinh has said.
Nearly 10 percent of Vietnamese firms lack capital and money for their business because of COVID-19. (Illustrative photo: VNA)
Hanoi (VNA) - Nearly 10 percent of Vietnamese firms lack capital and money for their business, especially micro-, small- and medium-sized enterprises (MSMEs), because of the lingering COVID-19 pandemic, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen Quang Vinh has said.
In addition, they face also market and material shortage due to the adverse impact of the pandemic.
To offset losses triggered by the pandemic, the Government rolled out various policies last year to help firms reduce operation costs and maintain finances.
A recent VCCI report with more than 12,000 respondents, however, showed that a large number of Vietnamese firms have difficulty in getting access to aid packages.
Insiders have voiced their opinions in favour of companies' capital mobilisation via the stock market, in an attempt to ensure the sustainable development of the financial market and stabilise the macro-economy, as well as sharpen businesses’ competitive edge./.
Vietnamese manufacturers and exporters are struggling to cope with rising material prices despite posting high export volumes in the first four months of the year.
German firms have expressed their optimism about Vietnam’s economy in both mid-and long terms in a recent survey released by the Association of German Chambers of Industry and Commerce (DIHK) on May 12.
Free trade agreements are opening the doors for Vietnamese fruit and vegetable firms to increase export revenue this year, according to the Vietnam Fruit & Vegetables Association (VinaFruit).
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Nearly 10 percent of Vietnamese firms lack capital and money for their business because of COVID-19. (Illustrative photo: VNA) 
