Resurgence

The resurgence of Covid-19 outbreak is hurting local airlines again this year.

The local authorities have been cooperating with retailers in the city to stockpile basic necessities worth VND39.4 trillion (US$1.7 billion), up 5% against the last year.

While key economic indicators in January remains positive, the economy is set to go through a rough path amid a Covid-19 resurgence.

Instead of returning home or traveling during the Tet holiday, people would choose to stay put due to concern of the pandemic.

Market capitalization on the HoSE, home to majorly large-caps, dropped around US$11.78 billion.

As of August 15, budget revenue collection reached VND812.2 trillion (US$35.04 billion), equivalent to 53.7% of the year's estimate.

The Covid-19 resurgence in July deals a further blow to the business community and the overall recovery efforts.

As of July 20, the government delayed a payment worth VND47.6 trillion (US$2.04 billion) of land rental fees and taxes for enterprises, organizations and household businesses.

HSBC economists forecast GDP expansion of 3% in 2020 for Vietnam, the only ASEAN country they expect to have positive growth this year.

In the long term, high gold prices could affect prices of other goods, weaken the Vietnamese dong and push inflation, said expert Nguyen Tri Hieu.