Business

Vietnamese-born businessman Hoang Kieu has said he is no longer a Forbes-listed billionaire after losing $6.8 billion in stock investments but was planning to regain his title in two years. “It is true that I am no longer ranked 148th in the Forbes 400 list,” he told NgoiSao. “I lost …

Thirty-seven social housing projects have qualified for loans from the VND120 trillion ($5.07 billion) credit package that the government has set aside to boost affordable home supply. These projects need to borrow VND17.85 trillion in incentive interest loans, according to a report by the Ministry of Construction. Bac Ninh, Binh …

Vietnam’s benchmark VN-Index rose 0.41% to 1190.72 points Monday. The index closed 4.82 points higher after gaining 13.09 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 1.03% to VND20.04 trillion ($846.67 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 16 tickers …

The prices of locally grown red-fleshed jackfruit have tumbled by half from a year ago to VND50,000 (US$2.11) for a kilogram. Many small traders said the increasing supply of the fruit, first grown in Indonesia and then in some other Southeast Asian countries, including Vietnam, has led to the sharp …

The Asian Development Bank has appointed Shantanu Chakraborty its new Vietnam director. The Indian, who has been with the bank for 18 years, replaces Andrew Jeffries who leaves the position after nearly three years. Chakraborty will represent ADB in policy dialogues and fostering relationships with the government and other relevant …

The U.S. dollar rose slightly against the Vietnamese dong Monday morning. Vietcombank sold the dollar at VND23,825 Monday, up 0.02% from Sunday. Eximbank maintained its rate at VND23,670, and Techcombank VND23,840. The State Bank of Vietnam raised its reference rate by 0.08% to VND23,753. The dollar was sold at VND23,660 …

Luxury car dealer Phan Cong Khanh has been accused of selling a customer’s luxury car for VND24.5 billion ($1.04 million) without his knowledge. A person named Manh from the southern province of Kien Giang has complained to the police that he had lent his Brabus 800 to Khanh in early …

Hotels in Ho Chi Minh City are suffering from low occupancy rates due to a sharp drop in international visitor arrivals and domestic tourists’ preference for traveling to beaches. In May, amid a wave of hotel closures and conversions into office buildings, the Norfolk Hotel in District 1 with over …

Vietnam’s rice exporters could raise prices and sign long-term contracts with buyers now that India, the world’s largest supplier, has ordered an export halt. Indian government on July 20 announced a ban on non-basmati white rice as retail rice prices climbed 3% in a month after heavy monsoon rains caused …

Vietnam collected VND3.94 trillion (US$166.5 million) in taxes from 57 foreign online platforms including Google, Apple, Facebook, Netflix, and TikTok in the first half of this year. Of the sum, VND3.4 trillion was paid directly via the portal of the General Department of Taxation (GDT), which was established last March …