Business

Nearly 2,700 stalls at An Dong Plaza in Ho Chi Minh City closed their doors on Wednesday as vendors demanded free rent for the year amid plunging sales. Before the Covid-19 pandemic, thousands of customers came to the mall in District 5 every day. However, only 100-300 shoppers show up …

The U.S. dollar plunged against the Vietnamese dong on the black market Thursday morning. Unofficial exchange points sold the greenback at VND23,570, down 0.46% from Wednesday. Most banks, however, kept the dollar unchanged. Vietcombank maintained the dollar at VND23,690. Eximbank sold the greenback at VND23,740, and Techcombank VND23,690. The State …

SJC gold price gained 0.37% to VND67.4 million ($2,866.56) per tael Thursday morning. Gold ring price rose 0.63% to VND55.85 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices edged higher on Thursday after the U.S. Federal Reserve raised interest rates by an expected 25 …

Ratings agency Moody’s Investors Service has downgraded the long-term deposit and issuer ratings of private lender Techcombank because of its high exposure to the struggling property sector. Its currency deposit and issuer ratings were lowered from Ba2 to Ba3, the same level as several other banks in Vietnam. Its outlook …

Vietnamese 5% broken rice has been the most expensive in the world since August last year, surpassing rivals Thailand and India, according to the Ministry of Industry and Trade. In the first two months this year Vietnam’s average rice price was over $519 per ton. Since August last year, it …

Vietnam’s major manufacturers have raised steel prices to a 7-month high despite plunging demand. On Tuesday, Hoa Phat Group hiked its prices for rebar steel by 0.95% to VND15.99 million ($678.55) per ton. Local steelmakers Viet Y, Viet Duc, Kyoei and Viet My all made similar adjustments, while Pomina’s price …

A large delegation of big U.S. businesses – including Boeing, Meta and SpaceX – has said it regards Vietnam as a strategic market and supports the government’s digital and green transformation goals. At a Wednesday meeting between Prime Minister Pham Minh Chinh and the delegation of the U.S.-ASEAN Business Council …

Demand for apartments has declined sharply this year though sellers are offering discounts of 30-50%. In Ho Chi Minh City, liquidity was low in January and February and weakened further in March. In the secondary market, investors who are under stronger pressure to repay bank loans or pay higher interest, …

DTS Group and GMO have established a blockchain technology application and development center with the goal of promoting blockchain technology in Vietnam. The Mira Blockchain Center in Hanoi aims to bring blockchain technology to life through integrated technology-based physical products and high technology projects. The unit will play the role …

Vietnam’s benchmark VN-Index rose 0.79% to 1040.54 points Wednesday. The index closed 8.11 points higher after gaining 9.33 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 3.89% to VND8.65 trillion ($367.77 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 17 tickers …