Business

Seafood exports to most major markets have fallen by 17-50% this year. Shipments to the U.S. fell by more than 50% year-on-year to US$284 million, according to the Vietnam General Department of Customs. Exports to Australia were down 30% to $65 million. Despite China’s reopening, exports to this market were …

Authorities in the southern province of Dong Nai on Wednesday started demolition of eco-tourism sites illegally built near Tri An, Vietnam’s largest artificial lake, amid safety and pollution concerns. The sites have been constructed without approval from local authorities, to offer accommodation, camping and stand-up paddle board services to tourists …

The Ho Chi Minh City police have arrested 22 people after raiding six illegal moneylending companies that allegedly lent money at up to 2,555% interest a year. Directors and managers of Phuc Loc Tho, Bao Tin Kim Long, Gofigo, Infobot, Infinity, and Solution Lab were arrested in Binh Thanh District …

Violet Zhu, a Shanghai-based electronic components exporter, has been attending jewelry auctions and chatting on social media forums on the subject this year, looking to invest in rubies and diamonds. “I don’t have the brain for stock investments, and I am waiting to redeem mutual fund products once they break …

Banks facing a risk of insolvency due to a run could receive interest-free loans from the central bank and other agencies if proposed changes to the laws are approved. The State Bank of Vietnam has drawn up amendments to the Law on Credit Institutions to handle bank runs. It said …

The U.S. dollar rose against the Vietnamese dong Thursday morning. Vietcombank sold the dollar at VND23,660, up 0.06% from Wednesday. Eximbank maintained the greenback at VND23,630. The rate stayed unchanged at Techcombank, VND23,645. The State Bank of Vietnam raised its reference rate by 0.11% to VND23,642. Unofficial exchange points sold …

Noi Bai International Airport in Hanoi is anticipated to serve 96,000 passengers and 580 flights during the upcoming five-day break from April 29-May 3. This estimated number of passengers will be 20% more than the same period last year but it is yet to break the record set during last …

Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery in travel to Asian countries, but the numbers remain far off pre-Covid levels with long-haul airfares soaring and not enough flights available. Overseas tour bookings for the upcoming holiday, for which many in …

Affordable apartments, priced at VND20-40 million (US$850-1,700) per square meter, are making a comeback in Ho Chi Minh City after disappearing for several years. Of five recent developments that are licensed to sell a total of 7,199 apartments, 1,515 (or 21%) are priced at VND20-40 million per square meter, according …

The owner of a Macan SUV is claiming that Porsche employees broke his VND600 million ($25,500) gearbox during maintenance, but the automaker denies the accusation. In early December, Ho Chi Minh City resident Pham Anh Tan in Ho Chi Minh City brought his 2016 Macan to Porsche Sai Gon for …