Daily Archives: August 10, 2020

Vietnam Airlines projects loss of over 650 million USD this year

National flag carrier Vietnam Airlines has forecast a consolidated pre-tax loss for 2020 of nearly 15.18 trillion VND (over 650 million USD) due to COVID-19.   At its repeatedly-delayed annual shareholders’ meeting on August 10, General Director Duong Tri Thanh said the pandemic has spread around the world and completely changed the global economy, including

Policies needed to promote mechanical engineering in agriculture

Vietnam needs policies to promote mechanical engineering in agriculture to increase added value and quality for the farming sector, experts have said.   According to the Ministry of Industry and Trade, agricultural mechanisation still had very low levels of adoption in Vietnam with an average of 1.6 horsepower (HP) per hectare, much lower than 4HP

PV Gas Vung Tau sets new record in daily LPG filling

The PV Gas Vung Tau, a subsidiary of the PetroVietnam Gas Corporation (PV Gas), has set a new record of the corporation in LPG filling.   The ThiVai filling station at Vung Tau Terminal, one of the PetroVietnam Gas Corporation (PV Gas)’s gas depots, has pumped close to 1,448 tonnes of liquefied petroleum gas (LPG)

Tien Giang enjoys fruitful agricultural restructuring

The Mekong Delta province of Tien Giang has been promoting agricultural restructuring towards expansion in both area and production of vegetable farming.   According to Nguyen Van Man, Director of the provincial Department of Agriculture and Rural Development, incomes from vegetable farming rose to more than 226-271 million VND((9,711-11,645 USD) per hectare in 2019, much

Bad debts tend to rise despite slow credit expansion

  Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.   The first-half financial statements of big banks like Vietcombank, BIDV and Vietinbank all indicated an increase in non-performing loans (NPLs).   Total NPLs of Vietcombank increased 11 percent in the last six months, pushing

Reference exchange rate up 15 VND at week’s beginning

The State Bank of Vietnam set the daily reference exchange rate at 23,215 VND per USD on August 10, up 15 VND from the last working day of the previous week (August 7).   With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,903 VND/USD

Special communiqué on former Party General Secretary Le KhaPhieu’s passing away

The Communist Party of Vietnam (CPV) Central Committee, the National Assembly, the President, the Government and the Vietnam Fatherland Front Central Committee have issued a special communiqué, announcing that former Party General Secretary Le KhaPhieu passed away at 2:52 on August 7, and his funeral will be held as a national mourning.   Comrade Le