Business

More than 77,000 businesses have suspended operations in the last four months and many more sold assets to remain afloat as major challenges plagued the economy. “It has never been this difficult,” a representative of a manufacturing business association in Ho Chi Minh City said recently, referring to the large …

Apple’s MacBook Pro laptops have seen their prices tumble by tens of millions of dong (VND1 million = $42.6) in the two months amid underwhelming demand. Quy Thien, a video editor, said when the MacBook Pro 16-inch was released in Vietnam at the end of March, he ordered a high-end …

While rents for office buildings declined all over Ho Chi Minh City in the first quarter, they rose by 8% year-on-year in Thu Thiem, according to real estate consultancies. The average occupancy rate in Thu Thiem, the new urban area in the city’s Thu Duc City, stood at 99%, 13% …

Egroup, the parent company of English language school Apax Leaders, has offered its creditors household appliance to reduce its debts. The company has offered to sell appliances of German brand such as electric stove, pots and dishwasher at half price to creditors, paying off debts with the savings. The products …

The Hyundai Creta has surpassed its competitor Kia Seltos in sales for a fourth consecutive month in April. The Seltos had been top dog in the compact SUV B segment until 2023. In the overall compact SUV market, sales fell by 23% with a total of 4,327 vehicles sold. In …

Half the workers to be laid off by Taiwanese contract footwear manufacturer Pou Yuen Vietnam in June and July will be women aged over 40 years. The layoff will see the city’s largest employer part ways with 5,744 workers, 80% of them women, 60% of whom have worked for the …

Two former senior executives of Japan Airlines are set to join Bamboo Airways, which is seeking to restructure after some major setbacks. The Japanese carrier’s ex-chairman, Masaru Onishi, and former director of public relations, Hideki Oshima, would join Bamboo’s management, its chairman, Nguyen Ngoc Trong, said recently without disclosing their …

Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than $14 billion in trade surplus in the first four months. However, the FDI sector still recorded a trade surplus of $14.18 billion as a result of $79.1 billion in exports, …

Taylan Turan, Group Head of Retail Banking and Strategy for HSBC’s Wealth and Personal Banking business, said Vietnam is one of the bank’s most strategic markets due to its potential for wealth and personal banking. In 2022, HSBC reported its adjusted pre-tax profit in wealth and personal banking rose 35.5% …

Da Nang authorities slapped a VND20-million (US$850) fine on a hotel for having a woman guest stay in a dirty room for two weeks and refusing to clean it. Tran Thi Thuy Dung of Ba Ria-Vung Tau booked a room at the Sea Sand Hotel 1 on An Thuong 3 …