Business

Vietnamese electric vehicle maker VinFast is cutting its workforce in the United States, the company said on Monday, amid a restructuring in its major overseas market as the startup grapples with a stalled shipment of its first cars and prepares for a potential stock listing. The Vietnamese company, a subsidiary …

Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some $1.7 billion, beyond expectations of the two countries. Vietnam exported $656 million worth of goods to the neighboring country in 2022, up over 10%, mainly oil and gas, fertilizers, steel, machinery and …

The U.S. dollar went up against the Vietnamese dong at banks on Tuesday morning. Vietcombank sold the dollar at VND23,690, up 0.21% from Monday. Techcombank’s rate was at VND23,720, up 0.25%. ACB maintained its rate at VND23,700, same as Monday. The greenback is sold at VND23,550 on the black market, …

Australian magazine Traveller has named banh cuon (steamed rice paper rolls) one of world’s 10 best dishes to try along with Japan’s sushi and Malaysia’s Sarawak Laksa noodle soup. “There’s a certain magic to the way these big sheets of steamed rice noodles are made, before they’re wrapped around savory …

The central Phong Nha Town, famous for its ancient limestone karsts and vast network of caves, has been voted the friendliest destination in Vietnam on Dutch online travel agency Booking.com. Ninh Binh, around two hours from Hanoi and home to UNESCO heritage site Trang An Landscape Complex, was second, followed …

Thirteen of 174 Thai tourists who arrived in South Korea in a group last week have gone missing, the Korean Justice Ministry said. The visitors landed at Muan Airport, 385 kilometers south of Seoul, on a chartered flight last Monday, but 13 did not show up to board their return …

Three major shipping companies reported their highest ever profits last year even though freight charges fell by over 80% from their peak during the Covid outbreak. Hai An Transport and Stevedoring Joint Stock Company’s after-tax profits were up 90% from 2021 at VND1.050 trillion (US$44.49 million); Petrovietnam Transportation Corp’s (PVTrans) …

Vietnam has raised its electricity price range by double-digits for the first time since 2017, paving the way for a hike in retail prices. The minimum electricity price was increased 13.7% to VND1,826.22 (7.8 U.S. cents) per kilowatt-hour beginning February 3, according to a decision signed by Deputy Prime Minister …

Vietnam’s benchmark VN-Index rose 1.13% to 1,089.29 points Monday thanks to last-minute buying. The index closed 12.14 points higher after losing 0.44 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.97% to VND9.61 trillion ($409.28 million). The VN-30 basket, comprising the 30 largest capped …

Delivery startup Loship is confident it will make profits this year, something most of its competitors have yet to achieve. Nguyen Hoang Trung, CEO of one of only two delivery startups in Vietnam, told VnExpress that Loship suffers “very little” loss. Last year its revenues increased by 500% thanks to …