Business

Sale of autos plunged in April after two consecutive months of growth, according to data from the Vietnam Automobile Manufacturers Association (VAMA). A total of 22,409 units were sold last month, down 25% from March, according to sales records of VAMA members. VAMA comprises most major auto distributors in Vietnam, …

As one of the few sectors reporting export turnover increase in the first quarter of 2023, Vietnam’s vegetable and fruit sector has a bright outlook to earn $4 billion in export revenue this year. Vietnam exported nearly $1 billion worth of fruits and vegetables in Q1, up 8% from a …

VinFast, a subordinate automaker of private conglomerate Vingroup, announced the arrival of its second shipment of electric vehicles, consisting of 1,879 VF 8 vehicles, at the Port of Benicia in California, the US. The VF 8 has a certificated EPA range of 264 miles for the Eco trim and 243 …

The Ministry of Planning and Investment is working with HCMC to develop an international financial center in the southern hub, which will not be easy, according to a government minister. “We will research the plan thoroughly and report to the National Assembly in the coming time,” Minister of Planning and …

The Ministry of Finance still wants a special consumption tax for online game production due to the products’ risk of addiction and negative health effects. After consulting the public and other government bodies, the ministry found 90 votes supporting the tax proposal and on 10 votes rejecting the measure or …

Footwear maker Pou Yuen Vietnam, the largest employer in HCMC, will lay off nearly 6,000 workers, or 10% of its workforce, amid a decline in orders. This is the biggest layoff of the Taiwanese company, a supplier to Adidas and Reebok, since its operation in HCMC in 1996. At a …

Techcombank has set a CASA (current account savings account) target of 55% by 2025 by investing in digitalization and increasing lending to retail customers and SMEs. At its recent annual general meeting, CEO Jens Lottner said he was optimistic about the bank’s ability to achieve the targets despite market volatility. …

The government’s proposal to make it mandatory for all property transactions to go through trading platforms will increase costs and time, the real estate industry has complained. The proposal seems too “stiff” since direct sales to buyers is more prevalent, Nguyen Quoc Hiep, chairman of the Vietnam Association of Construction …

Mercedes has been dominating Vietnam’s luxury car market in recent years, but that could start to change this year as BMW lowers prices. “We have always considered BMW a major competitor in most markets globally, but things are different in Vietnam,” said CEO Brad Kelly on the sidelines of the …