Business

The Rolls-Royce Phantom owned by Trinh Van Quyet, former FLC chairman, is being auctioned with a starting price of VND18.4 billion ($773,352), down 34% from three months ago when it was first put up for sale. The car, which cost Quyet an estimated VND51 billion in 2015, was used as …

Vietnam’s railway network planning expects to have 16 new national lines with a total length of about 4,802km by 2030. According to the Ministry of Transport, the planning for 2021-2030 will also upgrade seven existing lines, whose total length amounts to 2,440km. By 2050, the number of new rail lines …

The Ministry of Construction wants to reduce the number of social housing units to be built by 2030 from 1.4 million to one million due to a shortage of resources. Under its latest proposal to the Government, at least a million housing units will be built for low-income earners and …

SJC gold price inched down 0.07% to VND66.95 million ($2,813.02) per tael Friday morning, lowest since mid-January. Gold ring price steadied at 54.25 million per tael. A tael equals 37.5 grams or 1.2 ounces. Gold prices edged up on Friday as the U.S. dollar softened, while traders awaited economic data …

The Ministry of Finance is again considering imposing a tax on sweetened beverages eight years after failing to get other ministries’ backing for it. A “reasonable” special consumption tax on sugary drinks would help protect people’s health in line with the World Health Organization’s recommendation and international practice, it said. …

Selling insurance products fetch banks trillions of Vietnamese dong (VND1 trillion = $42 million) in revenues each year, but with this comes dissatisfaction from customers who say they are “forced” to pay premiums to acquire loans. At the end of 2017, Vietnamese lender Sacombank and Japanese insurer Dai-ichi Life signed …

The U.S. dollar gained over the Vietnamese dong Friday morning to an 11-week high. Vietcombank sold the dollar at VND24,000 Friday, up 0.04% from Thursday to the highest since Dec. 8. Eximbank sold the greenback at VND23,970, same as Thursday. The dollar remained stable at Techcombank at VND24,005. The State …

Vietnamese electronics retailers are buying back the Galaxy Z Fold, which sold for VND50 million (US$2.092) when it was launched in 2019, at an 88% reduction from the original price. Ever since Samsung’s new Galaxy S23 went on sale in Vietnam on Feb. 17, retailers have launched trade-in programs, encouraging …

After a period of scorching growth drugstore chains An Khang, Pharmacity and Long Chau have begun to diverge in their strategies. An Khang has stopped opening new stores, Pharmacity restructured and rationalized its chain and Long Chau now has the largest number of stores. In August 2022 Pharmacity had the …

Vietnam’s benchmark VN-Index dropped 0.06% to 1053.66 points Thursday. The index closed 0.62 points lower after losing 27.95 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 5.14 percent to VND12.08 trillion ($507.03 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 11 …