Business

The Japan International Cooperation Agency has signed an official development assistance agreement with the Vietnamese government to provide a loan of 60.98 billion yen (US$422 million) for three projects. The majority of the soft loan, 50 billion yen, to be given under a quick disbursement mechanism, will be for a …

Prices of the popular hot sauce Sriracha have surged eight times in the U.S. as drought in Mexico leads to a scarcity in the key ingredient, red jalapeños. The hot sauce, which is produced by Huy Fong Foods owned by Vietnamese-born billionaire David Tran, is sold at US$40 per bottle …

Chinese automaker Great Wall Motor is set to sell its first vehicle in Vietnam in August as part of a plan to expand in ASEAN. The private company plans to launch in Vietnam with the sale of the SUV HAVAL H6 Hybrid Electric Vehicle, it said. Initially the cars will …

The country is facing stiff obstacles in achieving growth targets of 6-6.5% this year due to a low base in the first half, the Minister of Planning and Investment said Tuesday. To reach GDP growth of 6% for the whole year, the economy needs to expand by 8% in the …

Coffee is an export highlight of agricultural products in the first half of 2023, as the industry’s export revenue earned $2 billion in the period, the General Department of Customs has announced. According to statistics from the department, as of June 15, the country exported 934,900 tonnes of coffee, down …

Vietnam’s benchmark VN-Index rose 0.58% to 1,132 points Tuesday with foreign investors ending a four-session streak of net purchase. The index closed 6.50 points higher after gaining 5.32 points on Monday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 35.6% to VND14.64 trillion ($617.46 million). Foreign investors …

Between 32% and 73% of bancassurance customers terminate their contract after the first year, the Ministry of Finance has found after reviewing data from four insurers. The highest cancellation rate, of 39-73%, was at Sun Life, which sells its policies through two lenders, ACB and TPBank, according to the ministry, …

Prices of land, apartments, townhouses and villas in Ho Chi Minh City and neighboring provinces in the secondary market have been on a downward trend as investors face cash flow issues. According to VnExpress research by July 1, offering prices of apartments in the city’s eastern area decreased by some …

The U.S. dollar continued to gain against the Vietnamese dong on Tuesday and reached the highest since March 11. Vietcombank sold the dollar at VND23,840, up 0.08% from Monday. Eximbank kept its rate stable at VND23,670, while Techcombank lowered it by 0.03% to VND23,858. The State Bank of Vietnam maintained …

State-owned VietinBank is selling 358 foreclosed properties pledged by loan borrowers, including four- and five-star hotels, worth a total of VND8 trillion (US$337.69 million) to realize their debts. The properties will be either auctioned or negotiated for sale. The bank is also selling 38 vehicles, machines and other equipment. The …