Business

The Ministry of Planning and Investment has advised HCMC not to tax the second property owned by people as it “does not guarantee fairness in many situations.” It said while the proposed tax is meant to increase the city’s revenues and limit speculation, it could hurt people with two small, …

Vietnamese vegetables and fruits are eyeing potential overseas markets, in which quality requirements and standards are high, said experts at a forum in Ho Chi Minh City on March 1. Nguyen Minh Phuong, Director of the Asia-Africa Market Department under the Ministry of Industry and Trade, said that due to …

Singapore remained the biggest foreign investor in Vietnam in the first two months of 2023, with investment of $978.4 million, down 42.7% year-on-year, the Ministry of Planning and Investment reported. Taiwan ranked second with nearly $407.1 million, 3.85 times higher than that in the same period last year. The Netherlands …

Vietnam’s total retail sales of goods and services in the first two months of this year were estimated at VND994.2 trillion ($41.88 billion), up 13% year-on-year, according to the General Statistics Office. Of the total, the retail sales of goods were estimated at VND781.8 trillion, up 10.1% year-on-year, of which …

The U.S. dollar continued to fall against the Vietnamese dong Thursday morning. Vietcombank sold the dollar at VND23,895 Thursday, down 0.10% from Wednesday. Eximbank kept the rate unchanged at VND23,890. Techcombank sold the dollar at VND23,905, same as Wednesday. The State Bank of Vietnam adjusted reference rate down 0.02% to …

FLC has named Le Tien Dung, chairman of its construction subsidiary FLC Faros, its new CEO in place of Bui Hai Huyen, who stepped down Monday. Dung, who takes office Thursday, has years of experience managing construction sites. He was appointed chairman of FLC Faros in November last year and …

Thailand received 435,000 Russian visitors last year, 14 times more than in 2021, thanks to the easing of entry policies that allowed them a 45-day visa-free stay. The number was equivalent to 30% of pre-pandemic arrival numbers, according to statistics from the Moscow office of the Tourism Authority of Thailand. …

Ho Chi Minh City, which has started offering golf tours to foster tourism recovery, on Wednesday welcomed its first group of golfers from Singapore. Besides playing golf, the 20 tourists will also take an open-deck bus tour to iconic landmarks, see the city from the Saigon Sky Deck Bitexco observatory …

UOB on Wednesday said it has completed the acquisition of Citigroup’s consumer banking business in Vietnam, including the transfer of 575 staff. This is part of UOB’s acquisitions of the American investment bank’s four consumer banking business markets. The deals were completed for Thailand and Malaysia in November and will …

Vietnam needs to spend at least VND4.1 trillion (US$173.7 million) annually to increase the national gasoline and oil reserve. The Ministry of Industry and Trade alongside the Ministry of Finance want the country’s reserves to total nine days of net imports by 2025, and 30 days in the 2026-2030 period, …