Business

Vietnam’s benchmark VN-Index plunged 2.29% to 996.45 points Monday morning, lowest in 23 months. It closed the morning session 23.4 points lower in its fourth losing session in a row, having fallen 38.6 points Friday. The VN30 basket, comprising the 30 largest capped stocks, saw 28 tickers in the red. …

More than half of the 35 Danish business executives accompanying Crown Prince Frederik during his official visit to Vietnam on November 1-2 are in the wind power industry. They include officials from Orsted Vietnam Llc, a subsidiary of the largest offshore wind power company in the world, and Vesta Mind …

Nearly 2,000 Wolfoo videos about the animated wolf and his family have been removed by YouTube for copyright violation, causing losses of around US$2 million for their Vietnamese producer. Between June and October the three YouTube channels, Wolfoo Family, Wolfoo Channel and Wolfoo’s Story potentially each lost 2-3 billion views, …

Phat Dat, one of the six largest property companies firms on the stock market, reported a slump in third quarter revenues to VND11 billion (US$444,000). They were down from nearly VND1.27 trillion a year earlier and the lowest since late 2018. In the year to date, the HCMC company’s revenues …

Vietnam’s factories are bracing for a challenging end-of-year season as plunging orders from their main markets, U.S. and Europe, hamper their post-pandemic recovery. For the last several months, workers at bag manufacturer Virtue King Vietnam have not had overtime because there is no extra work for them after their eight-hour …

Hanoi is proposing that the completion date for its No. 2 metro route Nam Thang Long – Tran Hung Dao be extended to 2027 and VND16 trillion ($644.5 million) be added to its budget. The Hanoi People’s Committee is completing a report on the proposal before submitting it to the …

With over one million subscribers, the country’s three mobile virtual network operators, who piggyback on large telecom companies, have a market share of 1%. iTel, Reddi and Local do not have their own infrastructure or radio frequencies, and instead pay to use VinaPhone, Viettel, MobiFone, Vietnamobile, or Gtel’s. iTel, which …

The Vietnam Chamber of Commerce and Industry (VCCI) disagrees with the proposal to limit apartment ownership duration, saying it would interfere with people’s ownership rights. In proposing amendments to the Housing Law, the Ministry of Construction said it wants to limit ownership to 50-70 years in line with apartments’ lifespans. …

Interest on personal and business loans have increased by about two percentage points to around 13% and 9%, respectively, against early this year, burdening individuals and businesses. Hang, communications officer with a firm in HCMC, said the interest rate on the bank loan she took to buy a house has …

Price stabilizing businesses, set up by Ho Chi Minh City to ensure prices of consumer goods do not fluctuate wildly, are struggling to survive as input costs surge while retail prices see little increase. Nguyen Dang Phu, deputy CEO of food processor Vissan, said that although regulations allow his company …