VIETNAM BUSINESS NEWS AUGUST 20

Startup festival opens in Khanh Hoa province

Germany temporarily recognises Vietnam’s new passports, resume visa issuance

The decision takes effect immediately, and visa issuance on the new passports will resume.

HCM City faces difficulties in relocating nearly 20,000 low quality homes

HCM City is struggling to relocate nearly 20,000 slum homes situated on and along local canals.

Quang Liem beats Indian prodigy Praggnanandhaa at FTX Crypto Cup

Vietnamese GM Le Quang Liem defeated GM Rameshbabu Praggnanandhaa 2.5-0.5 to break the Indian prodigy’s winning streak in the fifth round of the FTX Crypto Cup taking place in Miami on August 19.

Da Nang seeks to promote tourism on Tiktok

More than 120 Tiktok content creators took part in a discussion on how to shoot videos promoting tourist destinations in Da Nang, during an event held by the municipal Tourism Promotion Centre and two media companies on August 20.

Pharmaceutical firms show mixed performance

Six-month revenues of pharmaceutical firms paint a mixed picture of the industry in the first half.

Ship damages bridge over Saigon River

Binh Phuoc 1 Bridge connecting Thu Duc City and District 12 over the Saigon River was damaged after being hit by a ship traveling under the bridge.

Vietnam sees rise in Covid-19 infections and deaths

Vietnam has seen a recent rise in the number of Covid-19 infections and deaths due to the appearance of new Omicron sub-variants.

Phu Quoc halts scuba diving tours for coral protection

Underwater tourism activities that threaten coral reefs at Phu Quoc marine sanctuary have been suspended.

Vietnam, Poland capitalize on EVFTA preferences

The implementation of the Vietnam - EU Free Trade Agreement (EVFTA) has greatly contributed to raising two-way trade turnover between Vietnam and Poland to over US$1 billion since the beginning of the year.

Foreign trade hits more than US$30 bln in first half of August

The General Department of Vietnam Customs reported the total import-export value of Vietnam in the first half of August 2022 has hit more than US$30 billion.

Vietnam improves forecasting in face of natural disasters

Natural disasters are becoming more unpredictable and extreme due to climate change, causing more extensive damage to people and property.

Expert backs proposal to invest in refinery complex in Ba Ria-Vung Tau

A proposal by the Vietnam Oil and Gas Group (Petrovietnam) to invest in a petrochemical and refinery complex and national oil storage facility with total investment of nearly 19 billion USD in the southern province of Ba Ria-Vung Tau is a good idea.

Vietnam’s public debt decreases significantly

Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the latest information released by the Ministry of Finance.

Get a taste of nature in northern national parks

National parks with abundant greenery and diverse flora and fauna act as lungs for many regions and provide a paradise for nature lovers.

Over US$34 billion set to pour into Vietnam’s real estate market this year

During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions.

VIETNAM NEWS HEADLINES AUGUST 19

Government offers support to additional 243,000 pandemic-hit labourers

Tourism businesses struggle to get cut-rate loans

Struggling tourism businesses in HCM City are in dire need of credit to recover but are finding it very difficult to access the subsidised loans under the Government’s Decree 31 that took effect in May, according to the city's Department of Tourism.

VIETNAM BUSINESS NEWS AUGUST 19

Ministry of Finance seeks to drop fuel price stabilization fund

Vietnam to tighten management, increase supervision to prevent tax loss

Nowadays online shopping becomes more popular than in-store shopping and more people have taken take full advantage of social networking platforms to put an ad on social network platforms about their products.

Foreign firms required to store users' data in Vietnam

Foreign firms shall be required to store users' data within Vietnamese territory and set up local offices, according to the Government's Decree No. 53/2022/ND-CP scheduled to take place from October 1, 2022.

40 Vietnamese people flee Cambodia's casino

Long Binh Border Gate Station in the southern province of An Giang has just detained 40 Vietnamese people who illegally entered the country by a local river.

Vietnam’s corporate bond market hits over US$11.2 bln in seven months

Vietnamese enterprises issued bonds worth a total ofVND262.25 trillion (more than US$11.2 billion) over the first seven months of 2022, a year-on-year decrease of 10.9 percent, announced the Ministry of Finance.

Foreign traveler suggests 10 most unique Vietnamese cities

Canadian freelance writer Matthew Pike, who departed his homeland to settle in Vietnam, has listed the 10 most unique Vietnamese cities for travelers to visit.