Business

SJC gold price inched down 0.07% to VND66.95 million ($2,813.02) per tael Friday morning, lowest since mid-January. Gold ring price steadied at 54.25 million per tael. A tael equals 37.5 grams or 1.2 ounces. Gold prices edged up on Friday as the U.S. dollar softened, while traders awaited economic data …

The Ministry of Finance is again considering imposing a tax on sweetened beverages eight years after failing to get other ministries’ backing for it. A “reasonable” special consumption tax on sugary drinks would help protect people’s health in line with the World Health Organization’s recommendation and international practice, it said. …

Selling insurance products fetch banks trillions of Vietnamese dong (VND1 trillion = $42 million) in revenues each year, but with this comes dissatisfaction from customers who say they are “forced” to pay premiums to acquire loans. At the end of 2017, Vietnamese lender Sacombank and Japanese insurer Dai-ichi Life signed …

The U.S. dollar gained over the Vietnamese dong Friday morning to an 11-week high. Vietcombank sold the dollar at VND24,000 Friday, up 0.04% from Thursday to the highest since Dec. 8. Eximbank sold the greenback at VND23,970, same as Thursday. The dollar remained stable at Techcombank at VND24,005. The State …

Vietnamese electronics retailers are buying back the Galaxy Z Fold, which sold for VND50 million (US$2.092) when it was launched in 2019, at an 88% reduction from the original price. Ever since Samsung’s new Galaxy S23 went on sale in Vietnam on Feb. 17, retailers have launched trade-in programs, encouraging …

After a period of scorching growth drugstore chains An Khang, Pharmacity and Long Chau have begun to diverge in their strategies. An Khang has stopped opening new stores, Pharmacity restructured and rationalized its chain and Long Chau now has the largest number of stores. In August 2022 Pharmacity had the …

Vietnam’s benchmark VN-Index dropped 0.06% to 1053.66 points Thursday. The index closed 0.62 points lower after losing 27.95 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 5.14 percent to VND12.08 trillion ($507.03 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 11 …

Businesses are still waiting for a new policy that will enable them to connect their rooftop solar systems to the national grid two years after Vietnam Electricity (EVN) stopped allowing such a mechanism. Since Vietnam began encouraging solar power development in 2016, many businesses and households have been installing rooftop …

Commercial joint stock banks have continued to lower deposit interest rates since the middle of this month, a move that is expected to help reduce lending rates and support businesses. From Feb. 14, GPBank lowered its saving interest rates by 0.4% points. The six-month term and 12-month term rates now …

Foreign-invested firms have called on the Vietnamese government to ease visa restrictions and improve airport infrastructure to turn Vietnam into an attractive tourist destination. Alain Cany, chairman of EuroCham, said at a meeting with HCMC top leaders on Wednesday that the country should extend its visa-free stays from the current …