Business

Vietnam’s benchmark VN-Index rose 1.56% to 1,050.99 points Thursday with foreign investors net buying for the fifth straight session. The index closed 16.2 points higher after gaining 28.6 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 22.4% to VND8.90 trillion ($369.06 million). The VN-30 …

The Ministry of Finance has proposed a trial program that allows Vietnamese to gamble at Phu Quoc Island casino in southern Vietnam be extended for another two years. The trial program, which has been ongoing for the last three years, has proved to be a correct policy that satisfies the …

VietinBank has recalled Do Thanh Son and made him deputy CEO after seven years at OceanBank, which he successfully led out of trouble. He will hold the post for five years starting October 11. He was a branch director at VietinBank when he was sent to ailing OceanBank as chairman …

Low-cost carrier Vietjet on Wednesday announced the opening of the first direct air route connecting Vietnam and Kazakhstan. From Oct. 25, there would be two weekly flights from Nha Trang, a popular beach resort town in central Vietnam, to Kazakhstan’s biggest city Almaty every Tuesday and Saturday. This would be …

Auto sales rose by 8.5% in September to 33,463 units as the market slowly recovered amid tightening global spending. September marked a third straight month of increase in sales, according to the Vietnam Automobile Manufacturers Association (VAMA), which excludes the TC Group (which makes Hyundai cars) and VinFast. It represented …

Suppliers’ difficulties in acquiring bank loans, declining commissions for retailers and ineffective management by two ministries have pushed Vietnam into a gasoline conundrum that makes life more challenging for local citizens. These days people in Ho Chi Minh City can be seen walking their motorbikes as they look for a …

Embattled Saigon Commercial Bank received nearly VND6 trillion (US$255 million) worth of deposits on Wednesday after getting VND1.6 trillion on Tuesday, the State Bank of Vietnam said. Nguyen Duc Lenh, deputy director of the central bank’s HCMC Branch, said Wednesday that the number of people withdrawing money before maturity from …

Ho Chi Minh City will have enough fuel for the next 10 days, the municipal Department of Industry and Trade affirmed Wednesday amidst reports of shortages intensifying since last weekend. Of the 137 fuel stations that ran out of stock Tuesday, nearly 68% have resumed selling as of 12 p.m., …

Vietnam will strengthen investors’ trust in its bond, stock, currency and property markets by making them healthy, dealing firmly with violations, says Prime Minister Pham Minh Chinh. “The Communist Party and the State will protect businesspeople of integrity but will not tolerate wrongdoing and fraud that undermine the trust and …

Standard Chartered Bank raised Vietnam’s GDP growth forecast for 2022 to 7.5%, higher than its August forecast of 6.7%. The prediction is based on a 13.7% surge in the third quarter. It said Vietnam’s Q4 growth is anticipated at 4%. The U.K. lender predicts Vietnam’s GDP could grow by 7.2% …