Business

Experts are predicting that difficulties in the real estate market will last until the end of next year. At the Spring Real Estate Forum on Friday, Nguyen Quoc Hiep, president of the Vietnam Association of Construction Contractors, cited three main reasons for the prolonged difficulties in the market. First, a …

Credit growth in the first months of this year slowed significantly due to high interest rates and firms’ poor health, raising concerns about rising bad debts. Credit growth by the end of February 2023 increased by nearly 0.8%, equal to only one-third of the rate in the same period last …

Despite continuous calls to ease visa requirements for international tourists, nothing has changed after a year of reopening and the tourism industry continues to face challenges, experts said. Tran Nguyen, sales director of giant hospitality company and property developer Sun Group, said officials and businesses talked a lot about visa …

The selling price of cars in Vietnam are nearly double that of those in Thailand and Indonesia, according to the Ministry of Industry and Trade. According to the government regulations, cars are subject to a special consumption tax, value added tax, and import tax (except for domestically assembled vehicles). Vehicles …

Honda Vietnam has reported its fall in motorcycle and automobile sales at 36.8% and 7.3% respectively in February. That is the second month in a row the company recorded sale falls after seeing a growth of nearly 19% for motorcycles and 62% for the automobile last December. In February, it …

The U.S. dollar plunged against the Vietnamese dong Monday morning. Vietcombank sold the dollar at VND23,740 Monday, down 0.42% from Sunday. Eximbank lowered its rate by 0.55% to VND23,710. The rate at Techcombank was VND23,740, down 0.29%, and at ACB was VND23,900, down 0.42%. The State Bank of Vietnam (SBV) …

SJC gold price surged 0.37% to VND67.05 million ($2,846.53) per tael Monday morning, highest in three weeks. Gold ring went up 0.46% to VND55.05 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices rose on Monday to their highest in more than five weeks as …

The State Bank of Vietnam has conducted surprise checks on 11 banks and fined some or all of them for violations of corporate bond investment regulations. It did not release the names of offenders, merely saying in a release that inspections and fines ensure banks comply with the laws and …

The economic situation is causing retailers in Hanoi and Ho Chi Minh City to relinquish their leases, according to property consultancies and analysts. In the last two months many malls and commercial podiums in HCMC have been reporting higher vacancy rates after tenants moved out. The vacancy rates are lower …

Financially struggling real estate companies will enjoy an extension of principal and interest payments, as well as delayed debt restructuring, thanks to a government resolution taking effect Sunday. Also under the resolution, which aims to solve real estate problems and bolster the market, liquid property projects that meet people’s real-world …