Business

The Ministry of Finance fired State Securities Commission (SSC) Chairman Tran Van Dung, making him the highest-ranking casualty in the ongoing investigation into the stock market that began in March. Dung was fired for committing “serious wrongdoings”, and will be temporarily replaced by Deputy Finance Minister Nguyen Duc Chi from …

The total net worth of Vietnam’s billionaires has fallen by 10 percent since the last Forbes’ update in March to $19.3 billion due to a plunging stock market. The benchmark VN-Index has lost 17.5 percent since the end of March, with most blue chips hitting year lows. Tran Dinh Long, …

Vietnamese officials have proposed the Russian government considers 15-day visa exemption for tourists from Vietnam to boost travel. Speaking at Saint Petersburg-Vietnam Tourism Forum in Russia, Vietnamese Trade Counselor Duong Hoang Minh said Vietnam has offered a 15-day visa exemption policy for Russians visiting Vietnam and 30 days for those …

  Customers at a SeABank branch. Moody’s has recently upgraded SeABank’s Baseline Credit Assessment (BCA) from B2 to B1. — Photo nganhangvietnam.vn HÀ NỘI — Ratings of Vietnamese banks are expected to be continually improved thanks to Việt Nam’s positive sovereign credit rating. Moody’s has recently assigned B3 ratings and a stable outlook …

  Việt Nam’s pangasius export value to the US from the beginning of this year to April 15 reached US$195.3 million. VNA/VNS Photo Công Mạo HÀ NỘI— The National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD) has announced that the US has licensed six more Vietnamese pangasius processing factories to export to the market. Adding six …

PAN Group has bought a 39.9 percent stake in Bibica for VND524 billion ($22.6 million) to increase its ownership of the confectionary company to 98.3 percent. It said it bought 7.4 million shares at VND71,000. PAN Group first invested in Bibica in early 2015. By March this year it had …

Wind and solar power account for a third of capacity and generate 15 percent of output in Vietnam, but there is still a risk of shortages in summer. Vietnam has wind power plants with a capacity of 3,900 MW, but most of the time their output is less than half …

The securities watchdog has fined agricultural company HAGL VND3 billion (US$129,600) for failure to report the forced sale of over 25 million shares in a subsidiary. HAGL deposited shares of HAGL Agrico as collateral for a bond issue by a related company, Tay Nguyen Agrico. On January 7 and 10 …

  Two customers do online shopping on an e-commerce platform. — Photo vneconomy.vn HÀ NỘI — Smuggled, counterfeit and low-quality products have begun to spread rapidly on e-commerce platforms as the absence of physical product touch in online shopping puts buyers at a disadvantage. Nguyễn Đức Lê, deputy director of …

Ly Ngoc Minh, General Director of Minh Long Ceramics, shared the secret of “taking shortcuts” in creating long-lasting products at talkshow The Next Power.     ‘Taking a shortcut to catch up with innovation’: Minh Long general director Titlew