Business

The U.S. dollar dropped at several banks but gained at others marginally Monday afternoon. Vietcombank sold the dollar at VND23,620, down 0.04% from Sunday. The rate at Techcombank is VND23,622, down 0.10%. Eximbank sold the greenback at VND23,590, up 0.08%. The State Bank of Vietnam adjusted its reference rate up …

Ngo Nguyen Kha, CEO of beverage chain The Coffee House, says his coffee and tea shops focus on enhancing the customer experience and advancing into the “next round” of the competition. Why did The Coffee House slow down in 2021-22? For businesses, the Covid pandemic was just like a storm …

Manufacturing hubs like Vietnam and South Korea could be hurt this year as global smartphone shipments suffered its worst quarterly drop on record, signaling a cool down in consumer demand. Shipments declined 18.3% year-on-year in the December quarter to a little over 300 million units, U.S.-based International Data Corporation said …

Many pharmaceutical firms have reported record profits in 2022 thanks to high demand for drugs and other healthcare products post-Covid. DHG Pharma reported a profit of VND988 billion (US$42.1 million), a 27% increase from 2021 and 29% higher than the management’s target. It is the highest profit it has reported …

Vietnam attracted foreign direct investment (FDI) worth $1.69 billion as of January 20 this year, down 19.8% year-on-year, according to the General Statistics Office. In the month, local authorities granted licenses for 153 new FDI projects worth $1.2 billion, up 48.5% in number and 3.1 times in value. Among these …

The Consumer Price Index rose by 4.89% year-on-year in January as many goods became costlier during Tet. The effect was exaggerated by the fact last year Tet fell on February 1 and not in January, meaning prices remained low during the latter month. Another reason is that fuel prices have …

Toan, a 50-year-old farmer in a remote central highlands commune, is in debt tens of billions of dong (VND1 billion =$42,900) after reaping big profits during the “land fever” of 2021. Like so many others in Lam Dong Province and other rural areas of southern Vietnam, Toan saw the value …

HSBC predicts that Vietnam’s tourism, trade and FDI will have rosy prospects this year as China reopens borders. According to its latest report on Southeast Asia, HSBC said Thailand will benefit the most from China’s reopening. It said further that tourism in Vietnam was also expected to perform well as …

The supply of apartments in southern Vietnam, especially Ho Chi Minh City and neighboring Binh Duong Province, is expected to fall 25% in 2023, according to property consultancy DKRA Vietnam. Decreasing demand for apartments in the region is also forecast to continue through at least the middle of the year. …

Many lottery companies in southern Vietnam reported that pre-tax profits increased by around 1.5 times in 2022 as life returned to normal after the Covid pandemic. The HCMC Lottery Co., a leading lottery firm in the south, reported revenues of VND12.18 trillion ($516.1 million), surging nearly 60% against 2021. Meanwhile, …