Business

Vietnamese Prime Minister Pham Minh Chinh suggested Monday that Australia opens its doors wider to Vietnamese agricultural and fisheries products. Receiving Australian Senator Tim Ayres, Assistant Minister for Trade and Assistant Minister for Manufacturing, in Vietnam to attend the Organization for Economic Cooperation and Development (OECD) Southeast Asia Ministerial Forum …

The proposal for cuts to special consumption tax and value added tax on gasoline will not be reviewed in the upcoming National Assembly session. Addressing the press Monday afternoon, Nguyen Minh Son, vice chairman of the Economic Committee, said the government was yet to present a report to the National …

There could be electricity shortages in the offing since a leading gas firm has to reduce supply to thermal power plants to relocate a rig. PetroVietnam Gas Joint Stock Corporation (PVGas) announced that its contractor, Hibiscus of Malaysia, would stop supply of gas to the Ca Mau power plant for …

The U.S. dollar continued its recent rally, reaching an all-time high of nearly VND24,500 at some banks Monday after the central bank widened the dong’s trading band. The State Bank of Vietnam widened the dong’s daily trading range to 5% on either side of the fixing rate from 3%, effective …

Vietnam’s benchmark VN-Index dropped 0.97% to 1,051.58 points Monday after three sessions rising. The index closed 10.3 points lower after gaining 10.9 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 34% to VND9.55 trillion ($392.8 million). The VN-30 basket, comprising the 30 largest capped …

Authorities in the Central Highlands resort town of Da Lat plan to illuminate Xuan Huong Lake at night to beautify it at a cost of VND42 billion (US$1.7 million). Besides energy-saving LED lights, misting systems will also be installed. The funding for them will come from businesses. Da Lat authorities …

Authorities in the central province of Khanh Hoa have licensed a private firm to trial overnight cruise services in Nha Trang Bay, widely considered among the world’s most beautiful. Sealife Group, which specializes in luxury cruises, will organize two-day tours, allowing visitors to explore Mun and Tam islands and stay …

Vietnamese billionaires have seen their net worth decline by billions of dollars in the past month following the stock market’s steep fall, according to Forbes. As of Oct. 16, the country’s richest man, Pham Nhat Vuong, chairman of Vingroup, Vietnam’s biggest private conglomerate, was worth US$4.4 billion, down $300 million. …

The State Bank of Vietnam on Monday widened the daily dollar-dong trading band to 5% from 3% to help boost the competitiveness of the country’s exports. The new band, on either side of a value set daily by the central bank within which the dong can move, took effect Monday …

Vietnam’s VinFast said on Saturday it would recall 730 of its model VF e34 electric cars (EVs), which are available only on the domestic market, to make checks and replace their side crash sensors. VinFast, which began operations in 2019, is a unit of Vietnam’s biggest conglomerate Vingroup bat and …