Business

Vietnam’s central bank will restructure loans for some businesses facing difficulties, including delaying loan repayments, the government said, as it seeks to shore up a slowing economy. Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to draft the decision with a view to increasing the number …

Remittances to Ho Chi Minh City increased by 19% year-on-year in the first quarter to over US$2.1 billion, according to the State Bank of Vietnam. Money coming from elsewhere in Asia accounted for most of the increase since the continent has enjoyed higher economic growth than many other regions, said …

Authorities in South Korea’s Jeju Island, a UNESCO heritage site, plan to impose an entry fee of 8,170 won (US$6.20) a day for tourists to support environmental sustainability. The proposal would be submitted to the National Assembly by the end of this year for approval, Korea Times reported. The island …

Prime Minister Pham Minh Chinh has instructed the State Bank of Vietnam to swiftly draft plans for restructuring weak banks, including the Saigon Joint Stock Commercial Bank (SCB). At a meeting he held with its management on April 22, he said the restructure should be transparent and “prevent loss of …

Mall operator Vincom Retail has reported after-tax profits of VND1.02 trillion (US$43.4 million) for the first quarter, a 2.7-fold rise year-on-year, amid a recovery in consumption. It was 23% up quarter-on-quarter, the company’s consolidated financial statements showed. Vincom Retail reported revenues of VND1.94 trillion in the first quarter, an increase …

Ta Kieu Hung has been appointed acting CEO of National Citizen Bank (NCB) four months after joining the private lender. Hung, 43, holds a master’s degree in business administration from the French-Vietnamese School of Management (CFVG), became a deputy CEO at NCB late last year, according to a bank announcement …

The average monthly income of Vietnamese workers in the first quarter of 2023 was VND7.9 million ($336), the Ministry of Planning and Investment reported. This marked an increase of nearly VND578,000 ($24.60), or 8%, compared to the same period in 2022, according to the Ministry of Planning and Investment in …

Three foreign groups unveiled plans to pour $3.7 billion into Vietnam at a meeting with Prime Minister Pham Minh Chinh in Hanoi Saturday, according to the Ministry of Planning and Investment. A group from South Korea is to invest $1.6 billion in heavy industry and logistics production; a German investor …

Prime Minister Pham Minh Chinh held a working session with the State Bank of Vietnam Saturday to review and step up the issuance of two important circulars related to the finance-banking sector. Discussing the draft circular on debt restructuring and rescheduling, and keeping debt groups unchanged, PM Chinh asked the …

An air route connecting Quang Ninh Province, home to Ha Long Bay, with the Mekong Delta city of Can Tho will open April 25. The three Vietjet Air flights per week are scheduled for Tuesday, Thursday and Saturday. The Van Don (Quang Ninh) to Tra Noc flight will depart at …