covid-19 impacts

Update news covid-19 impacts

SOE equitisation slow this year due to COVID-19

The outbreak of COVID-19 in many localities has delayed the equitisation of State-owned enterprises (SOEs).

Unemployment, underemployment unprecedentedly high

The number of employed people in Q3/2021 fell sharply compared to the previous quarter and the same period of last year, while unemployment and underemployment rates increased to an all-time high.

Workers’ incomes reduce remarkably due to COVID-19 pandemic in Q3

The average monthly income of workers in most economic sectors in the third quarter declined compared to the previous quarter and the same period last year, according to the General Statistics Office (GSO).

Running out of money, businesspeople fall into black credit hole

Many businesspeople have complained that they have had to sell cars and fixed assets to maintain operations. Some have even sought capital from black credit sources with exorbitant interest rates.

SMEs need State assistance

Small and medium-sized enterprises (SMEs) are in dire need of financial resources to maintain and restore operations.

 

'Nike leaves Vietnam': phony news and warnings

"Nike is leaving Vietnam" has been confirmed as misinformation. Nike does not own any factories in Vietnam, but only hires partners in Vietnam to process its products.

The nature of tourism has completely changed

The Covid-19 pandemic in the past two years is not just a crisis in which the domestic tourism industry can be revived simply by reducing prices or stimulating demand like previous times. 

90,000 businesses get stuck, others need VND100 trillion

Businesses need loans without collateral and a simple procedure which allows them to access bank loans soon or they will die before they get the money.

Incurring big losses, café chains shut down

The Covid-19 pandemic, with changes in consumers’ habits and requirement on a minimum distance between customers, has dealt a strong blow to the (food and beverage) F&B industry.

Vietnamese businesses to overcome challenges

Ho Chi Minh City and 18 southern provinces are gradually resuming business and production activities after a long time of lockdown. 

Red boards with this phrase appear densely on Hanoi streets

“Shop for rent”, “space for rent”, “house for rent”, … are the phrases that appear most on the streets of Hanoi after two months of social distancing.

HCM City businesses propose support policies

Businesses in HCM City have called for support policies to help them revive operations after disruption caused by the COVID-19 pandemic.

Thien Long Group Corporation joins FPT Corporation to assist children orphaned by Covid-19

Thien Long Group Corporation and FPT Corporation have signed a memorandum of understanding (MoU) to support children who have lost their parents who died from Covid-19.

Gym, spa owners lose billions of dong during Covid-19

The health and beauty industry has been seriously hit throughout the four Covid-19 waves. Many owners of gyms and spas worth billions of dong have had serious losses.

Unprecedented: Vietnam’s GDP in Q3/2021 drops 6.17%

Data released by the General Statistics Office of Vietnam on September 29 showed that the gross domestic product (GDP) in the third quarter of 2021 decreased by 6.17% year on year, the biggest drop since Vietnam began publishing its quarterly GDP.

Over 90,000 businesses 'die' and there may be more

The prolonged Covid-19 epidemic has put many businesses in Vietnam at the risk of bankruptcy. The number of newly registered enterprises in September dropped, even in the amount of registered capital.

Quarantine services: gold mine for golf tourism

In early 2021, 59 foreign tourists arrived in Phuket province in southern Thailand and were quarantined at a luxury hotel for 14 days. This is one of the first groups of international tourists to Thailand under the "resort quarantine" program.

VN enterprises can't produce because of lack of materials, parts

A fish sauce plant using millions of tons of fish has had to close because it cannot buy stopples to bottle products.

Seafood exports plummet under social distancing regulations

The lack of input materials and workers, the increase in production costs, and failure to fulfill orders of partners all have pushed seafood companies into a deadlock. Seafood exports have plummeted.

88 per cent of Vietnamese households negatively affected by COVID-19

Up to 88 per cent of households across Vietnam suffered due to the COVID-19 pandemic with those working in the tourism, service and manufacturing sectors the most severely affected.