Tag: bankruptcy

According to the Vietnam Association of Construction Contractors (VACC), all construction enterprises, from small to large, have debt backlogs. Many have debts of more than VND1 trillion ($42 million) and are facing bankruptcy.

The Chairman of the Vietnam Association of Construction Contractors (VACC) has said that outstanding debts will put many construction enterprises, especially those of small and medium size, on the verge of bankruptcy if they cannot be recovered. The Association proposed that the Prime Minister assign the State Bank of Vietnam to introduce priorities on construction credit, especially in key projects, to support the industry.

More than 50 per cent of wood enterprises in Vietnam’s south are at risk of going bankrupt. Demand for wooden furniture in major markets is now rising, so strategies and solutions for the industry to recover after the pandemic are needed.