Business News

According to Savills Vietnam, the performance of hotels has been hugely impacted by COVID-19. Average occupancy has dropped to approximately 20 per cent across the first half, which has put financial pressure on hotel owners, especially at new hotels.

“Housing prices will begin to plummet by the end of this year and bottom out by mid-2021 when the [COVID-19] pandemic has impacted almost every sector, especially the housing market,” Tran Khanh Quang, general director of Viet An Hoa Company, said.

In a written response to the Viet Nam Financial Advisory Association, the Ministry of Finance said amid the prolonged COVID-19 pandemic and rising tensions between the world’s largest economies, global stock markets were becoming more vulnerable and sensitive to bad news.

In the petition, the association requested the government to issue a protocol for the pandemic prevention and infection control in air transport and apply it to air travelers to ensure flight safety.

Under a recent directive, SBV Governor Lê Minh Hưng said the COVID-19 outbreak would continue to be unpredictable, which could push the global economy into a deeper recession and have a heavy impact on the Vietnamese economy due to its deep economic integration.

As of August 11, as many as 15.7 million people downloaded Bluezone, in which Da Nang City, the nation’s current biggest COVID-19 hotspot, took the lead  with 34.13% of smart phone users installing the app, followed by Ha Noi 23.83%, Quang Ninh Province 22.61%, Ho Chi Minh City 22.05% and Bac Ninh Province 17.84%.

1. Draft Decree detailing a number of articles of the Labor Code on labor management, labor contracts, wages, labor discipline, material responsibility.
2. Draft Decree detailing a number of articles of the Labor Code on labor dispute settlement.

Foreigners have bought some 16,000 housing properties across the country since they were allowed to do so in 2015, according to the Ho Chi Minh City Real Estate Association (HoREA).