Business

Automaker Thaco Group plans to increase its sales 7.7% from last year to 120,000 units this year, with earnings of more than VND90 trillion ($3.80 billion), despite concerns about market challenges. The plan calls for the sales of 96,000 passenger cars, 23,500 trucks, and 1,500 buses and minibuses, Chairman Tran …

Short periods of prosperity followed by long slumps have characterized the real estate market’s boom-and-bust cycles in the past few decades. Data from investment consultancy Mogin Holdings shows that in 2008-2023, the market grew quickly for a total of five years, but there were 11 years of deceleration. According to …

Pacific Airlines, Bamboo Airways, and Vietravel Airlines are seeking new investors to help them overcome financial difficulties and speed up their post-pandemic recovery. Vietnam Airlines, which owns approximately 98% of Pacific Airlines’ shares, has been searching for new investors for its subsidiary carrier since last year. The national flag carrier …

Property industry insiders and analysts have proposed solutions to remove obstacles in credit access and administrative procedures to help the sector recover this year. Prime Minister Pham Minh Chinh is set to chair a meeting Friday to tackle issues in the property market with representatives from government bodies, property developers …

Vietnam’s Ministry of Culture, Sports and Tourism has called on its counterpart in China to soon allow the resumption of group tours to Vietnam to boost the recovery of tourism in both countries. The ministry urged China to add Vietnam to its list of countries that are able to receive …

Foreign investments are expected to flow into the tech and property sectors this year despite concerns about a global economic slowdown. They tripled year-on-year to US$1.2 billion in January, with the number of projects surging by 48.5% to 153, according to the Ministry of Planning and Investment. The investment in …

Fuel retailers are worried about defaulting on loans or going bankrupt since they get no commissions, while wholesalers complain about losses due to foreign exchange rate fluctuations. At a seminar held to gather opinions on a proposed government decree on trading of gasoline and oil products on Feb.14, fuel firms …

The U.S. dollar inched down against the Vietnamese dong on the black market but steadied at banks Thursday morning. Unofficial exchange points sold the greenback at VND23,695, down 0.02% from Wednesday. Vietcombank sold the dollar at VND23,790, unchanged. The rate at Techcombank was VND23,798, up 0.03%, and at ACB was …

Vietnam must develop national brands for fruit products to increase added value and competitiveness in international markets, experts said. Although fruits bring in billions of U.S. dollars in export revenue annually, Vietnam has no well-established fruit brands. “When talking about apples, we think about the US,” said Nguyen Dinh Tung, …

A Da Nang taxi driver who charged a South Korean tourist 10 times the normal fare has returned the difference to her after the police stepped in. A spokesperson for the Visitor Support Center of Da Nang’s Department of Tourism said it had coordinated with the police to refund an …