State-owned transport giants Airports Corporation of Vietnam, Vietnam Airlines, Vietnam Railways, and Vietnam Maritime Corporation suffered all-time biggest losses in the first quarter of 2020 due to COVID-19 and are trying in vain to recover, seeking for rapid supporting policies from the government.

National social distancing measures are dragging CGV and other cineplexes down, causing substantital losses. However, over-the-top services operating online like Netflix have greatly profited from the crisis, especially since they have yet to observe their tax obligations in Vietnam.

Vietnam’s lending sector appears increasingly susceptible to the boom and bust of the global health crisis, with an uptick in sour loans fanning fears that it would dig into the growth of the whole market.

The Vietnamese stock market has been reviving spectacularly in the first half of April, regaining nearly 100 points after the gloomy March and producing one of the best performances among stock markets around the globe.

The State Bank of Viet Nam is completing a mobile money pilot project and will submit it to the Government for approval this month, Governor Le Minh Hung has said.

The health crisis has led to huge demand for capital for Vietnam to fuel domestic production activities and medical treatment. However, questions arise over how the country can positing itself to access more international loans amid its efforts to control public debts.

The People’s Committee of Ba Ria – Vung Tau Province has urged relevant departments to speed up issuance of ownership certificates for condotels to ensure the healthy development of the segment.

Decision No.13/2020/QD-TTg issued last week on  encouraging mechanisms for solar power development in Vietnam sets the deadline of December 31 for solar systems of any scale to attain a certificate of delivery and enjoy the feed-in tariff 2 (FiT2) rate, which is considered to be financially attractive. The price of each kilowatt-hour generated from ground-mounted, floating, and rooftop solar initiatives are 7.09, 7.69, and 8.38 US cents, respectively. These numbers have been viral in the investment community since last year and now they are finally confirmed.

About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 per cent from July 1 this year, down from the current rate of 20 per cent.

A national conference between the Prime Minister and enterprises is to be organised soon to identify ways to address the difficulties facing businesses and facilitating their operations amid the COVID-19 outbreak.

The Green Innovation and Development Centre (GreenID) hosted an online conference in Hanoi on April 11 on the second phase of the feed-in-tariff (FIT 2) and policies for the development of solar power in Vietnam after 2020.

The State Bank of Vietnam is is urgently working with relevant ministries to finalise the pilot programme of utilising telephone subscription accounts to make small payments, or mobile money.

The global coronavirus crisis is triggering major disruptions for companies in Vietnam and throughout the world. The unique circumstances mean that many managers are left having to hope for the best and prepare for the worst.

The Labor Code 2019 increases the number of overtime working hours for employees which does not exceed 40 hours/month instead of 30 hours/month as stipulated by the Labor Code 2012.

In his recent phone talks with European Commissioner for Trade Phil Hogan, Minister of Industry and Trade Tran Tuan Anh exchanged views on a number of issues related to the European Union – Vietnam Free Trade Agreement (EVFTA) and bilateral cooperation and trade in the context of the raging COVID-19 pandemic.

HÀ NỘI — The Vietnamese Foreign Ministry on Friday received a diplomatic note from the Republic of Korea (RoK) Embassy in Việt Nam which said amid the complicated developments of the COVID-19 pandemic worldwide, the Korean Government has decided to suspend the validity of short-term visas for foreigners, irrespective of countries and territories, starting from 00:00 on April 13. 

Prime Minister Nguyen Xuan Phuc on Wednesday approved Decree No 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.

The Ministry of Industry and Trade said that the most important priority at present was to maintain the operation of domestic industrial enterprises during the novel coronavirus (COVID-19) pandemic.

The Government has officially decided to approve a new feed-in-tariff mechanism to encourage development of solar power in Viet Nam.

Bui Sy Loi, vice chairman of the National Assembly’s Committee for Social Affairs talks about solutions to support labourers after many enterprises have declared bankruptcy or been temporarily suspended operations due to the COVID-19 pandemic.