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Nguyen Trong Hieu, deputy head of the Institute of Business Studies and Development, said though the fund could not lend to more than 5 percent of the total number of SMEs in the country, it is still a major step in supporting startups, which are struggling to access bank credit. … [Read more...] about Banks out of loop, government fund to lend directly to startups

Houses are submerged under floodwaters in Quang Tri Province in October 2020 – PHOTO: VNA HCMC - More than 110 Americans have so far donated over US$28,000 for the flood victims in central Vietnam through a charity campaign initiated by the U.S. veterans. … [Read more...] about U.S. veterans raise funds for flood victims in central Vietnam

HCM City (VNA) – Ho Chi Minh City is taking drastic measures to promote disbursement of public funds, which plays an important role in economic development amidst the COVID-19 pandemic. According to the municipal People’s Committee, nearly 32 trillion VND (1.38 billion USD) was disbursed as of December 31, 2020, some 27.3 trillion VND of which came from the city’s budget (accounting for 74.1 percent of the assigned plan) and the remainder from the state budget (equivalent to 57.2 percent of the plan). Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said the results did not live up to expectations of the Government and the city leaders, pointing out tardy disbursement of the Official Development Assistance (ODA) capital affected the city’s outcomes. Since the state budget year 2020 will end on January 31, 2021, the department will ask investors to speed up the work, striving for the disbursement rate of 95 percent for the … [Read more...] about HCM City speeds up disbursement of public capital

The office of the People's Committee of HCMC announced that Mr. Nguyen Thanh Phong, Chairman of the municipal People's Committee, approved the policy of reducing 50 percent of stall rentals at city-based traditional markets during the period from July to December 2020 as proposed by the Department of Industry and Trade. This department is assigned to take responsibility and coordinate with the Department of Finance to guide the People's Committees of districts to implement the policy. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 16

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has requested ensuring democracy, fairness, safety and thrift in the elections of deputies to the 15th National Assembly and the People’s Councils at all levels in the 2021-2026 tenure. In a directive dated January 14, PM Phuc asked the Ministry of Information and Communications (MIC) to coordinate with relevant agencies to direct news agencies to disseminate the significance and importance of the elections, the right to vote and to stand as a candidate of citizens to officials, public servants, armed forces and people from all walks of life. The Ministry of Planning and Investment should instruct the General Statistics Office to guide its provincial and municipal chapters to provide population data until December 31, 2020 to serve as a foundation to count the number of NA and People’s Council deputies at each administrative unit. The Government leader directed the Ministry of Transport and the MIC to work on specific … [Read more...] about PM orders democratic, fair, safe organisation of general elections