Business

Mercedes distributor Haxaco reported a 92% year-on-year fall in pre-tax profits in the first quarter to VND5.6 billion ($238,750). Amid an industry-wide decline in sales, Haxaco’s revenues plummeted by 40% to VND992 billion. High interest rates and the difficult economic situation caused sales of the luxury brand to drop, the …

Brewer Sabeco said its after-tax profit rose by 40% last year to VND5.5 trillion. Vietnam’s biggest brewer had net revenues of VND34.98 trillion, an increase of 32% from 2021. These are significant achievements compared to the 2021 results. The 2022 profit figure was the highest in the history of the …

Thai immigration officials said they have arrested six Chinese, including five men and one woman for illegally working at a factory in Chon Buri Province while on tourist visas. The arrests came on Thursday after police raided the factory in Ban Bung District, around 70 kilometers from Bangkok, after receiving …

Investment from SUSI Partners will allow Asia Clean Capital Vietnam to help multinational and leading domestic companies decarbonize their energy supply. Asia Clean Capital Vietnam, a leading international clean energy solutions developer in Asia launched by the founders of Asia Clean Capital, has received an investment from SUSI Partners’ Asia …

Many foreigners were enchanted by the beauty of Vietnam’s natural landscapes and transformation in urban cities after watching the new Netflix film “A Tourist’s Guide to Love.” American Jennifer Doan, producer of Fox 10 Phoenix’s Arizona Morning program, said that she had been to Vietnam three times between 2002 and …

The Lao Government has decided to raise the monthly minimum wage from LAK1.2 million (nearly US$70) to LAK1.3 million starting on May 1 to ease difficulties facing workers amid soaring inflation and economic uncertainties. The decision was made at the Lao Government’s meeting held on April 25 – 26 under …

Vietravel Airlines is expecting to expand its fleet to six by adding three more aircraft in the third quarter following a plan set out from the early days of its establishment. The move in associatation with a recruitment programme slated for May in Ho Chi Minh City aims to help …

Vietnam’s biggest property developer Vinhomes will start selling two social housing projects this year in the central region. Construction of the two projects under the brand Happy Home in Thanh Hoa and Quang Tri Provinces began in July last year, Vinhomes chairman Pham Thieu Hoa said at the company’s annual …

Carmaker VinFast is set to receive a $2.5 billion cash pump from its parent company Vingroup and from billionaire Pham Nhat Vuong’s own pocket. Vuong, the richest man in Vietnam and chairman of Vingroup, will give $1 billion while Vingroup is set to give it $500 million. Vingroup will also …

Vietjet’s business strategy is not to steal customers from other airlines, but be a pioneer in establishing new routes and finding new opportunities, according to chairwoman Nguyen Thi Phuong Thao. The airline has been pioneering in forming new routes to India, Australia and Kazakhstan, said Thao at the company’s annual …