Business

The U.S. dollar rose slightly against the Vietnamese dong on the black market Friday morning. Unofficial exchange points sold the dollar at VND23,490, up 0.09% from Thursday. The greenback, however, remained steady at banks. Vietcombank kept its rate unchanged at VND23,620. Eximbank sold the greenback at VND23,640, while the rate …

Thailand expects tourism spending during the Lunar New Year holidays will reach 21.3 billion baht ($640 million USD), equal to 48% of that in 2019. According to Tourism Authority of Thailand (TAT) Governor Yuthasak Supasorn, during the Lunar New Year celebration which starts this week in many countries, Thailand expects …

Many owners of real estate agencies in HCMC have had to mortgage their personal assets to pay salaries, bonuses and debts as the Lunar New Year holiday approaches. According to the owners, this is the gloomiest situation in nearly a decade due to the slow down in the real estate …

Vietnam’s electric-vehicle (EV) maker VinFast said on Thursday it will launch promotions to protect the market competitiveness of its models, a week after Tesla announced aggressive discounting to spur demand. VinFast, which started operations in 2019, is gearing up to expand in the United States, where it hopes to compete …

Members of the Vietnam Association of Motorcycle Manufacturers (VAMM) sold over 3 million motorbikes domestically last year, up 120.5% against the year earlier. On average, 5.8 motorbikes were sold every minute during 2022, with the total domestic sales nearly 6 times higher than automobile sales. VAMM members posted sales of …

Unusually for Tet (Lunar New Year holidays), businesses are complaining consumers are spending less on gifts, accessories, jewelry, fruits, and electronics, causing stocks to pile up. Ha, who sells imported goods brought by air, said the number of orders this year has halved from last Tet. “In previous years sales …

Vietnam’s benchmark VN-Index rose 0.89% to 1108.08 points Thursday in its seventh gaining session. The index closed 9.8 points higher after gaining 9.99 points on Wednesday. It is now at the highest since September 30. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 14.58% to VND11.73 trillion …

China will limit trading with Vietnam through border gates in Lang Son Province for seven days starting Saturday amid the Lunar New Year holiday. The Huu Nghi, Tan Thanh and Coc Nam border gates will shut down from January 21-23, and in the following three days after that only goods …

After he was furloughed by his factory, Le Van Thuan decided to stay back in Binh Duong Province during Lunar New Year where he would look for another job. Staying back and not going back to his hometown would also help the family of three workers at Thong Nhat wood …

Garment manufacturer Gilimex’s profits plunged 92% year-on-year in the last quarter to VND10 billion ($426,000) as e-commerce giant Amazon canceled most of its orders. Its revenues fell by 81% to VND262 billion. The Ho Chi Minh City-based manufacturer of bags and storage items sued Amazon for US$280 million in a …