Business

Social media platform TikTok has been informed about an upcoming inspection by government agencies and looks forward to constructive feedback afterward, a company spokesperson said. The Chinese-owned company had been told in early February that officials from the Ministries of Information and Communications and Industry and Trade and the General …

The Ministry of Industry and Trade is considering an electricity price hike following the huge loss reported by state utility Vietnam Electricity (EVN) for last year. “The rate and time of the increase will be considered carefully to safeguard the benefits of EVN, the public and businesses and control inflation,” …

Egroup, which has begun restructuring its English language school Apax Leaders, has reopened 31 centers and agreed to pay 300 creditors and investors in the form of real estate. Egroup, which owns several businesses in Hanoi, said the reopening of 31 Apax centers as of March 31 has helped it …

SJC gold price gained 0.37% to VND67.3 million ($2,868.10) per tael Wednesday morning. Gold ring price surged 1.16% to VND56.75 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices hovered near record highs seen in 2020, trading steady above the key $2,000 level on Wednesday, …

Vietnamese firms spent over $903 million in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO). The cumulative import turnover of CBU cars in Q1 2023 increased by 76% in volume and 60.8% in value compared to the same period last …

The iPhone 14 Pro Max has seen its price cut several times since its release six months ago, with some stores now selling it at below cost price. Since late March NAME, an electronic retail chain in Ho Chi Minh City, has been selling the 128 GB version for VND26.99 …

Cua Van Floating Village, in UNESCO world heritage site Ha Long Bay, has been named one of 16 most beautiful coastal towns by readers of U.S. magazine Travel+Leisure. “This little village is completely composed of floating homes,” Travel+Leisure wrote. “About 700 people, traditionally fishermen, live in anchored houseboats, with kids …

Ho Chi Minh City chairman Phan Van Mai blames stifled growth in the southern hub on low external demand created by a sinking global economy. When the global economy is healthy, HCMC’s economic growth outlook is positive, said Mai at a forum Tuesday morning. He was trying to explain why …

Vietnam’s manufacturing activity dropped in March after a marginal climb in February as business continue struggling amid weakened global demand. The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) dropped to 47.7 in March, down from 51.2 in February and below the 50.0 no-change mark for the fourth time in …

Vietnam has six billionaires in the 2023 Forbes list of the planet’s richest people, down from seven last year. The six billionaires included this year are private conglomerate Vingroup chairman Pham Nhat Vuong, VietJet Air CEO Nguyen Thi Phuong Thao, steelmaker Hoa Phat chairman Tran Dinh Long, Techcombank chairman Ho …