Business

Vietnam rice export prices have reached a new peak of US$663 per ton, the highest price in the world right now, amid rising global demand. On Monday prices rose 2% in a single day to $663. Rice from Vietnam’s competitor Thailand has also risen 8% in the last four weeks …

The percentage of successful negotiations between late-paying businesses and bondholders has increased to 63% in October from 16% in February. At a talk show hosted by the Vietnam Government Information Gateway on the issue on Monday, Nguyen Hoang Duong, Deputy Director General of the Department of Banking and Financial Institutions, …

Some restaurants in Ho Chi Minh City have seen customers numbers plummet by up to 80% as the city strengthens its anti-drunk driving campaign. Over the past few years, one famous food and beer establishment on HCMC’s Hoang Sa road usually has on average served up to 800 customers a …

Upgrading to a new electronic bill system that allows real-time sales updates to the government is a costly and unnecessary process, fuel retailers say. An average fuel station will need to spend VND400 million to VND1 billion ($16,500-41,200) to replace its current hardware and software to meet the new electronic …

Vietnam’s coffee exports in 2023 are expected to break the record of US$4 billion in export value set in the previous year. According to the Ministry of Agriculture and Rural Development, the country shipped 1.36 million tonnes of coffee abroad, earning nearly $3.5 billion. Vietnam entered the new 2023-2024 coffee …

Foreign investors have been net selling MWG shares of electronics retail chain Mobile World for the last six months as the company’s earnings drop amid declining demand. In six months ending in November, they net sold over 76 million shares in total through order-matching. Foreign ownership in the company, once …

The U.S. dollar rose against the Vietnamese dong Tuesday morning. Vietcombank sold the dollar at VND24,440, up 0.14% from Monday. The State Bank of Vietnam kept its reference rate stable at VND23,926. The greenback rose 0.24% to VND24,680 on the black market. It has increased by 2.99% since the beginning …

SJC gold price rose 0.13% to VND74.3 million ($3,061.20) per tael Tuesday morning. Gold ring price plunged 0.64% to VND62.25 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices rose on Tuesday as the U.S. dollar and Treasury yields fell after traders slightly pared bets …

Garmex Saigon Corporation, which recently laid off 1,945 workers, told the Ho Chi Minh Securities Exchange its losses have been increasing in direct proportion to output. “We have reorganized our setup, cut our payroll, and temporarily ceased production to minimize losses,” CEO Nguyen Minh Hang said. After the layoffs this …

The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company’s application for a $500 million loan for expansion, VinFast said on Monday. The loan, which will be used to support VinFast’s establishment of lithium-ion battery manufacturing …