Daily Archives: August 6, 2020

Annual cashew nut export goal lowered to 3.2 billion USD

The Vietnam Cashew Association (Vinacas) has decided to lower the cashew nut export target to 3.2 billion USD this year, down from the 4 billion USD set in late 2019, given the impact of COVID-19.   Exports reached 232,000 tonnes in the first half, up more than 16 percent year-on-year, while value rose just 1

Annual cashew nut export goal lowered to 3.2 billion USD

The Vietnam Cashew Association (Vinacas) has decided to lower the cashew nut export target to 3.2 billion USD this year, down from the 4 billion USD set in late 2019, given the impact of COVID-19.   Exports reached 232,000 tonnes in the first half, up more than 16 percent year-on-year, while value rose just 1

Seaport fees should be increased: say insiders

Container loading and unloading service charges should be increased to approach the regional level so investors would not feel hesitant when pouring money into developing seaports.   The proposal was raised at a recent online conference held by the Vietnam Maritime Administration to discuss measures to remove difficulties for seaport and marine transportation companies.  

Deputy PM demands faster SOE equitisation, State capital divestment

Deputy Prime Minister Truong HoaBinh on August 6 requested the utmost effort from ministries, sectors, and State-owned enterprises (SOEs) to achieve the best result possible in equitising SOEs and divesting State capital from businesses.   At its meeting in Hanoi, the steering committee for enterprise reform and development reported that from 2016 to June 2020,

Vinatex’s revenue nosedives 36 percent in Q2

The COVID-19 pandemic dragged down the revenue of the Vietnam National Textile and Garment Group (Vinatex) by 36 percent year-on-year in the second quarter, to just over 3.08 trillion VND (133 million USD).   Profit stood at 280 billion VND, down 36 percent against the same period last year, according to Vinatex Director General Le

PM: EVFTA like an expressway bringing EU, Vietnam closer

  Prime Minister Nguyen XuanPhuc chaired a video conference on August 6 regarding the implementation of the EU-Vietnam Free Trade Agreement (EVFTA), during which he described the deal as a broad and modern expressway bringing the EU and Vietnam closer together.   He emphasised that Vietnam has signed 13 free trade agreements (FTAs) but one

State Bank of Vietnam cuts some interest rates

The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16.   Accordingly, the interest rate of compulsory reserves in VND at banks will be 0.5 percent per annum, and the interest rate on dong