Business

Superdong, which operates fast ferries to tourist islands, tripled its first-quarter profits year-by-year to VND33 billion (US$1.4 million). Superdong Fast Ferry Kien Giang JSC (SKG), as it is formally known, reported revenues of nearly VND120 billion, a 40% increase. Its management said the overall number of passengers rose by 30% …

Mercedes has dominated Vietnam’s luxury car market for the last four years as Lexus, Volvo and other trailing brands tussle behind. Auto registration data obtained by VnExpress showed that between 2019 and 2022, Mercedes secured and average of around 60% of Vietnam’s total luxury car market share. The German brand …

A five-day stay in Ho Chi Minh City only costs a person US$259, putting it sixth in the list of cheapest tourist destinations in the world. The list published by travel blog Traveller’s Elixir is topped by the Indian capital New Delhi at $181 followed by Cambodia’s Phnom Penh ($224). …

Vietnam’s central bank will restructure loans for some businesses facing difficulties, including delaying loan repayments, the government said, as it seeks to shore up a slowing economy. Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to draft the decision with a view to increasing the number …

Remittances to Ho Chi Minh City increased by 19% year-on-year in the first quarter to over US$2.1 billion, according to the State Bank of Vietnam. Money coming from elsewhere in Asia accounted for most of the increase since the continent has enjoyed higher economic growth than many other regions, said …

Authorities in South Korea’s Jeju Island, a UNESCO heritage site, plan to impose an entry fee of 8,170 won (US$6.20) a day for tourists to support environmental sustainability. The proposal would be submitted to the National Assembly by the end of this year for approval, Korea Times reported. The island …

Prime Minister Pham Minh Chinh has instructed the State Bank of Vietnam to swiftly draft plans for restructuring weak banks, including the Saigon Joint Stock Commercial Bank (SCB). At a meeting he held with its management on April 22, he said the restructure should be transparent and “prevent loss of …

Mall operator Vincom Retail has reported after-tax profits of VND1.02 trillion (US$43.4 million) for the first quarter, a 2.7-fold rise year-on-year, amid a recovery in consumption. It was 23% up quarter-on-quarter, the company’s consolidated financial statements showed. Vincom Retail reported revenues of VND1.94 trillion in the first quarter, an increase …

Ta Kieu Hung has been appointed acting CEO of National Citizen Bank (NCB) four months after joining the private lender. Hung, 43, holds a master’s degree in business administration from the French-Vietnamese School of Management (CFVG), became a deputy CEO at NCB late last year, according to a bank announcement …

The average monthly income of Vietnamese workers in the first quarter of 2023 was VND7.9 million ($336), the Ministry of Planning and Investment reported. This marked an increase of nearly VND578,000 ($24.60), or 8%, compared to the same period in 2022, according to the Ministry of Planning and Investment in …