Business

China’s biggest auto brand SAIC Motor will build a factory in Vietnam next year and hopes to achieve sales of 100,000 units a year within five years. “With 100,000 cars sold a year, SAIC can be the third biggest auto company in Vietnam,” SAIC Vietnam director of business and marketing, …

Vietnam’s benchmark VN-Index dropped 0.45% to 1117.42 points Wednesday after closing three sessions in the green. The index closed 5.04 points lower after gaining 6.44 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 2% to VND17.13 trillion ($728.72 million). The VN-30 basket, comprising the …

The Ho Chi Minh City Department of Transport, in collaboration with VietBank, Vidiva, and Mastercard, has unveiled its strategy to expand EMV open-loop payment on city buses, enhancing the public transportation experience. The EMV Open-loop payment system allows passengers to use existing payment methods such as bank cards or e-wallets …

Some smaller banks have followed the lead of the big state-run and private banks and reduced lending interest rates by 0.5-1 percentage points for existing loans. Le Thanh, who had borrowed from a small bank to buy a house in Ho Chi Minh City, said she was notified by the …

Actor Janice Man appointed as Natural Diamond Ambassador HONG KONG SAR – Media OutReach Newswire – 6 December 2023 – De Beers Group has always been a pioneer in the natural diamond industry, dedicating years to preserving the legacy of natural diamonds while strictly adhering to ethical sourcing principles. In …

Owners of the CT3 apartments in Hanoi’s Bac Tu Liem District have been trying to wrest ownership of their basement from developer Nam Coung Group. Like most apartments in Vietnam, CT3 has a board of directors elected by its 540 apartment owners and more than 2,000 residents. Upon the building’s …

Many hydroelectric dams in the north continue to languish without water, and have been forced to either stop power generation or run well below capacity. The Ministry of Industry and Trade said Tuesday the water level is 271.9 m, 6.9 m above the dead storage level (threshold for safe electricity …

The U.S. dollar rose against the Vietnamese dong Wednesday morning. Vietcombank sold the dollar at VND23,670, up 0.04% from Tuesday. Other banks kept it mostly unchanged. Eximbank sold the greenback at VND23,620, and Techcombank VND23,673. The State Bank of Vietnam maintained its reference rate at VND23,699. The dollar was stable …

The Transport Ministry is planning to increase ceiling airfare for domestic routes to VND4 million ($170). Under a new circular drafted by the ministry, for routes from 500 km to less than 850 km, the ceiling airfare rise by VND50,000 to VND2.25 million for an economy-class one-way ticket; from 850 …

After factory hours in Vietnam’s northern region were cut to save power during the heatwave last week, producers are now allowed to resume normal operations as power shortages begin to ease. All manufacturers at industrial parks are now allowed to operate from midnight until 5 p.m. daily, Bloomberg quoted Dao …