Business

The recent visit of South Korean President Yoon Suk-yeol is considered a prerequisite for the two countries to reach bilateral trade of $150 billion. “Restoring trade momentum” and “deepening the horizontal cooperative relationship between the two countries” are key tasks amid a challenging global economy, President Yoon told Vietnamese and …

Singaporean company PSA Cargo Solutions Vietnam Investment plans to continue increasing its stake in Vietnam’s logistics provider South Logistics Joint Stock Company (Sotrans). Sotrans on June 20 received a public tender offer from PSA Cargo Solutions Vietnam Investment to increase its ownership from 24.9% to 30% of charter capital. PSA …

A stock brokerage has force sold Egroup’s 15 million IBC shares of Apax Holdings, the operator of English language school Apax Leaders. The forced sale will happen between June 22 and July 12, Bao Viet Securities said in a statement. These are the shares Egroup has pawned at the brokerage. …

Despite a decline in global investment flows, Vietnam remained an attractive destination for foreign companies, especially large-scale enterprises, experts have said. Over the past five months of this year, foreign investment registered in the country reached nearly $10.86 billion, up 10.6% month-on-month, according to the Ministry of Planning and Investment’s …

Hai Phong City has green-lighted a proposal by LG Innotek, a subsidiary of the South Korean electronics giant that makes camera modules, to double its investment to US$2 billion. The $1 billion will double the company’s capacity when the new facility begins production in 2025, according to city authorities. The …

SJC gold price fell 0.07% to VND66.95 million ($2,845) per tael Tuesday morning. Gold ring price lost 0.09% to VND56.45 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices were flat on Tuesday, hovering slightly above their three-month lows, while the U.S. dollar strengthened as …

The U.S. dollar on Tuesday rose against the Vietnamese dong to the highest since March 20. Vietcombank sold the dollar at VND23,710 Tuesday, up 0.04% from Monday. Techcombank raised it by 0.02% to VND23,708. The State Bank of Vietnam brought its reference rate up 0.03% to VND23,761. The dollar was …

Vietnamese shrimp production costs are too high, making them less competitive in the global market, the chairman of leading seafood export company Minh Phu Seafood Corp. has said. Le Van Quang, speaking on June 23 at the 2023 Vietnam Shrimp Forum, said the costs of shrimp of the size that …

A former manager of movie theater chain CGV Vietnam is seeking compensation of nearly VND6 billion ($255,000), claiming they dismissed him without reasonable cause. However, the biggest movie theater chain of Vietnam said the man himself decided to quit. The case is set to be judged by the HCMC People’s …

Asong Invest, Noble Vietnam, and PVCB Capital signed a memorandum of understanding on June 23 to cooperate in establishing the PV-Asong Green Growth Investment Fund. The announcement came during a state visit on June 22-24 by South Korean President Yoon Suk Yeol, at the invitation of his Vietnamese counterpart Vo …