Business

THACO Industries, a new subsidiary of automaker THACO Group, will use its $550 million in registered capital to mass-produce machinery and supporting industrial products for export and domestic sale. The establishment of the subsidiary on Saturday means Vietnam will have another enterprise producing industrial and agricultural equipment – including auto …

Difficulties will continue to challenge the Vietnamese economy in 2023, even if there are some bright spots on the horizon, Prime Minister Pham Minh Chinh said. “We are not wavering, nor subjective, neglectful and caught off guard. Instead, we must stay calm and have a firm grasp of the situation …

All ferry and high-speed boat services connecting Phu Quoc resort island of southern Kien Giang Province to the mainland were suspended due to rough seas Sunday. Vo Minh Tuan, deputy director of Kien Giang Provincial Maritime Administration, said that ferry and high-speed boat services connecting the mainland to Phu Quoc, …

More than 90% of Tra fish (Pangasius hypophthalmus) available in the U.S. market comes from Vietnam, said Vietnamese Trade Counsellor in the U.S. Do Ngoc Hung. By the end of the third quarter, Vietnam’s frozen fillets of Tra fish exported to the U.S. increased by 19% in volume and 66% …

Egroup, the owner of several businesses in Hanoi including English language center Apax Leaders, has reportedly failed to pay salaries and investors’ interests amid a Covid-induced financial crunch. Hundreds of people have been showing up at Egroup’s facilities and the house of its chairman, Nguyen Ngoc Thuy (commonly known as …

Vietnam should launch more direct routes to the Middle East, offer an open visa policy, and even open new Halal restaurants to attract wealthy tourists from the Middle East, experts say. Deputy Minister of Culture, Sports and Tourism Doan Van Viet told a recent travel industry meeting that nearly 60 …

Among Vietnam’s export markets, the U.S. has so far resorted to the most trade remedies on Vietnamese exports – 43 — followed by ASEAN with 42 and India with 29. As of October there were 224 trade remedies against Vietnam, with the latest in place to protect domestic industries from …

Masan has bought back VND1.7 trillion ($72.13 million) in its own bonds this month amid a surge in corporate bond buy backs after recent market crackdowns. The bonds were issued in August 2020 and were supposed to mature in August 2023. In September, Masan issued VND1.5 trillion worth of bonds …

A video promoting Ho Chi Minh City tourism will appear during New York’s world-famous Times Square New Years’ Eve celebrations this year. Nguyen Cam Tu, Director of the Tourism Promotion Center at the HCMC Tourism Department, said that the video will be screened at the upcoming New Year’s Eve event …

Prime Minister Pham Minh Chinh has called on Belgian businesses to invest more in Vietnam as a politically stable country where wasy win-win partnerships can be formed. Vietnam and Belgium’s economies complement each other, Chinh told the Belgium Business Forum in Brussels on Thursday afternoon. He said Vietnam exports rice, …