Business

Vietnam’s woodwork exports are expected to top US$16.5 billion this year, up from $14.12 billion in 2021, the Handicraft and Wood Industry Association of Ho Chi Minh City said. Though orders for the fourth quarter have dwindled, “the export target of US$16.5 billion … is attainable,” Nguyen Chanh Phuong, vice …

The Ministry of Finance refused a proposal to exempt special consumption tax on gasoline given the country’s tax rate is at a low level compared to many other countries. The Vietnam Chamber of Commerce and Industry has recently proposed that the special consumption tax on gasoline be reduced to provide …

These three cafes with beds in Ho Chi Minh City provide private space for customers to work and relax without distraction. Chidori is a familiar cafe for young people and office workers in HCMC with its “coffee-in-bed” experience. The shop is designed in a Japanese minimalist style, with each room …

Gasoline retailers are complaining that official intervention in fuel prices go against market principles and cause many stations to suffer loss or shut down. For the second time in two months, 36 fuel retailers in Ho Chi Minh City on Friday submitted a letter of complaint to Prime Minister Pham …

Nguyen Tien Thanh, chairman and CEO of Tan Viet Securities, died late Thursday at the age of 50. Thanh died of a stroke, local media reported. Thanh has been the CEO of the brokerage since January 2016 and chairman since May 2019. He joined the company in 2007. He has …

Ho Chi Minh City has topped the list of destinations with the highest number of tourists in the year to date, and was followed by Hanoi and Thanh Hoa. It received over 23 million visitors, including 2.1 million foreign arrivals, according to the Ministry of Culture, Sports and Tourism. The …

Vietnam’s stock market was the world’s worst performer this week with an 8.5% decline. It was followed by Russia, down 4.8%, and Venezuela, down 1.87%, according to market data provider StockQ. Over the last four weeks Vietnam has been the world’s second worst performer behind Russia, with the VN-Index falling …

Truong My Lan, chairwoman of property developer Van Thinh Phat Group, was arrested for alleged fraud related to issuance and trading of bonds worth trillions of dong (VND1 trillion = $41.87 million). Lieutenant General To An Xo, chief of staff and spokesperson for the Ministry of Public Security, confirmed the …

The central bank had to intervene to prevent a run on Saigon Commercial Bank after the death of its board member caused panic among depositors. After SCB’s branches were filled with customers who wanted to either withdraw their deposits or inquire about their safety Friday afternoon, the State Bank of …

Vietnam’s benchmark VN-Index plunged 4.04% to 1,031 points Friday morning as most blue chips were close to hitting the floor amid a bearish market. The index was falling 44 points as of 11.17 a.m. after plunging by 28 points Thursday. VN-Index is now at the lowest since January 28 last …