Business

The Ministry of Construction has sought a low-interest loan of VND4.3 trillion ($183.7 million) to undertake 11 social housing and apartment renovation projects. It has called on the State Bank of Vietnam to instruct banks to lend the money at 2% interest from now through 2023. The money is needed …

The stock settlement cycle is set to be shortened by four hours, enabling investors to receive their share or money on the second morning after a transaction. Thus, from August 29, they will get them at 11-11:30 a.m on the second day (T+2) instead of the current 3:30-4 p.m. Now …

In Son Islet in the Mekong Delta’s Can Tho, a man places food on a floating tray and 5,000 catfish would leap out of water to get it. “They’re just like chicken,” he said.     ‘Just like chicken’: How a Vietnamese feeds his thousands of fish Hàng nghìn cá …

Cinema chain CGV Vietnam saw Q2 profits plunge 34% from 2019 (before the Covid-19 pandemic) to KRW4.2 billion ($3.16 million) despite screening several blockbusters. The unit of the Korean entertainment giant CJ CGV, however, saw revenue surging 148% to KRW39.2 billion. Several Hollywood blockbusters and the Vietnamese movie “Em va …

Food giants in Vietnam have seen increasing revenues from instant noodles, taking advantage of a large and growing market. Acecook Vietnam, a unit of Japan-headquartered Acecook, saw its revenue surpassing VND10 trillion ($427.30 million) in 2019 and climb to VND12.2 trillion last year, claiming the top spot in Vietnam’s instant …

Vietnam’s benchmark VN-Index dropped 0.35 percent to 1269.18 points Friday. The index closed 4.5 points lower after losing 1.6 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 2.8 percent to VND14.92 trillion ($637.53 million). The VN-30 basket, comprising the 30 largest capped stocks, saw …

The Vietnamese hospitality market will grow by US$2.12 billion from 2021-2026, U.S. market research and advisory company Technavio has forecast. It attributed the likelihood to Vietnam’s consistent economic growth and the substantial increase in per capita disposable income. This year it forecast the market to grow by 13.44% as Vietnam …

Banks have only disbursed 1% of the VND800 trillion (US$34.2 billion) economic recovery package in the three months since it was announced. To be disbursed by 2023, it offers loans to Vietnamese companies, cooperatives and business households at an interest rate of 2% to fund their post-Covid recovery. But only …

Apple supplier Foxconn has leased 50.5 hectares of land in the northern province of Bac Giang and plans to set up a $300-million factory there. The plant will employ 30,000 people, according to a statement of industrial property developer Kinh Bac City, which manages Quang Chau Industrial Park where Foxconn …

Drugstore chain Pharmacity has replaced its founder Christopher Randy Stroud, also known as Chris Blank, as its legal representative. In a filing, it said he has been replaced by Nguyen Nhu Nam, a director and investment manager at South Korean conglomerate SK Group. SK Group is in the final stages …