Business

The Tourism Authority of Thailand says it has proposed to prolong the 45-day visa-free stay policy for foreign tourists until the end of this year to boost the recovery of tourism. In addition to visa extension, Thai tourism officials plan to add more flights during the peak travel season and …

China’s reopening will have a positive impact on the global economy including Vietnam’s from mid-2023, economists have said. “Around April or May, China will be more confident about its open-door policy, and this will creat opportunities for Vietnam’s export and tourism,” said Nguyen Xuan Thanh of Fulbright University Vietnam. Nguyen …

The profits of the four biggest Vietnamese banks increased sharply in 2022 to around $1 billion each thanks to the highest credit growth in many years. The standalone pre-tax profits of three state-owned lenders, Agribank, BIDV and VietinBank, surged by 40%, nearly 80% and over 20%, respectively, to nearly $1 …

Vietnam’s largest refinery, Nghi Son, resumes full operation on Sunday afternoon after fixing a technical issue that lowered its production by 20-25%. The refinery in the central province of Thanh Hoa shut down its residue fluid catalytic cracking system due to fluid leakages in late December 2022, cutting planned production …

Tan Viet Securities has been fined VND745 million ($31,785) for multiple bond violations between 2021 and 2022. Of the fine, VND300 million is for failing to fulfill the responsibility of a consulting organization in reviewing issuers’ compliance with regulations on corporate bonds. Tan Viet was fined VND125 million for not …

The Ministry of Finance has called for extending through 2023 the 30% reduction in land-use fees made last year to support economic recovery. It said this year many sectors such as property, agriculture and mining are set to face challenges due to tightened spending and declining demand, and so the …

U.S. magazine Travel+Leisure has named Phu Quoc Island in a list of 23 best destinations to visit this year, calling it “one of the new stars of Vietnam’s tourism.” “Vietnam’s largest island Phu Quoc is an enchanting place of white sand beaches, emerald forests dotted with waterfalls, rock pools and …

Nearly 70% of respondents plan to purchase property this year, despite having less confidence in the sector, a survey has found. The Property Investment Sentiment Dndex dropped from 47 points in early 2022 to 36 points this year, as respondents believe that the current loan rates at banks are “unreasonably …

Analysts expect the central bank to bring Vietnam’s foreign exchange reserve back to the $100 billion level this year after selling the U.S. dollar in the last few months to contain its surge. VnDirect analysts said in a recent report that Vietnam would bring its foreign exchange reserve to $102 …

Vietnam’s growing capacity to make complex tech products is attracting more foreign investors who are setting up factories. Apple supplier BOE Technology Group plans to invest US$400 million to build two factories in Vietnam, Reuters reported recently. It is in talks to lease land in the north to put up …