Business

Banks saw a large gap between credit growth and deposit growth last year as businesses withdrew money prematurely to pay for expenses while mobilizing deposits faced difficulties. State-owned lenders Vietcombank, VietinBank and BIDV last year all posted the highest credit growth rate in the last three years. Vietcombank, the most …

Streaming platform Netflix is a serial violator of local laws but has escaped penalties simply because it is not a legal entity in the country. Last October it was criticized for showing the movie “Little Women,” which falsifies Vietnamese history. The Ministry of Information and Communications instructed Netflix to stop …

Vietnam’s benchmark VN-Index dropped 1.24% to 1,024.77 points Friday with 26 out of 30 blue chips closing in the red. The index closed 12.84 points lower after losing 2.94 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 13.32% to VND7.21 trillion ($303.93 million). The …

The government has set a target of turning Ly Son, an island district off the central Quang Ngai Province, into a coastal city with an improved infrastructure to boost tourism growth. Under an adjusted master plan on the development of the Dung Quat Economic Zone by 2045, approved by the …

The Ministry of Construction has pulled the plug on a VND110 trillion ($4.64 billion) credit package for developing social housing just two weeks after announcing it. Raising the money could run into difficulties in sourcing the money, deputy head of the ministry’s home and property market department, Ha Quang Hung, …

Ba Ria-Vung Tau Province has called on the tourism ministry to waive visas for visitors from Australia, New Zealand, Europe, and North America who want to stay for long. The southern province, home to beach town Vung Tau, also wants the period of stay allowed for tourists from key markets …

Two cruise ships carrying 700 tourists have docked at Vietnamese ports and two others with 3,500 passengers are set to arrive soon, heralding a busy year of cruise tourism. On Wednesday the Malta-flagged Azamara Quest arrived in Saigon Port with 300 tourists from the U.K., the U.S., Germany, and Australia, …

The Vietnam Coal and Mineral Industries Group (TKV) earned VND25.2 trillion ($1.06 billion) in revenue in the first two months of this year, up 27.8% over the same period last year. Of the total revenue, its earning from coal reached VND16.33 trillion, 17.3% of this year’s plan and up 48% …

Many karaoke parlors in Ho Chi Minh City have been forced to close after failing to meet new fire safety requirements. Su Van Hanh Street in HCMC’s District 10 was once a bustling place in the evenings with its dozens of karaoke parlors. But most are now closed and some …

The government should loosen corporate bond issuance requirements and curb bank credit interest rate hikes to enable the property market to overcome difficulties, insiders and analysts said. Mirae Asset Securities Company said credit has been tightened, capital mobilization through bonds is strictly controlled and loan interest rates are high, posing …