Business

Steel giant Hoa Sen Group set its lowest profit target of VND100 billion ($4.25 million) for 2023, lowest in 10 years,. Of its two financial scenarios for the year, the first was based on a projected sales of 1.4 million tons of steel products, which would fetch a revenue of …

Thailand’s frenzied water festival to mark the New Year, Songkran, will make a comeback next month after a three-year hiatus due to Covid restrictions. Prime Minister Prayut Chan-o-cha has ordered state agencies to prepare grand events and ensure safety with many foreign tourists expected to flock to one of the …

The number of foreign arrivals in Vietnam in the first quarter of this year grew by 30 times year-on-year to 2.7 million. The first quarter figures were around 60% of pre-pandemic levels and one-third of this year’s 8-million target, according to a report released by the General Statistics Office (GSO) …

Coffee giant Trung Nguyen Legend has opened its first representative office in Seoul as part of its strategy to bring Vietnamese coffee to global consumers. The new office, which opened on Tuesday, is located in Gangnam, a popular entertainment and shopping center in Seoul. Trung Nguyen Legend said in a …

Vietnams’ GDP growth slowed to 3.32% year-on-year in the first quarter, the second lowest growth rate in the last 12 years. Industry and construction, one of three main growth pillars of the country, posted an expansion rate of only 0.4% as major industries were hurt by rising input costs and …

When the property market is hot, and in many cases prices double in a short time, people continue to buy, but wait on the sidelines during a prolonged price decline. For almost three months now the market for apartments, townhouses and land plots have been in a slump. The fall …

Kao Sieu Luc, the CEO of ABC Bakery chain and dubbed the “Bread King,” has opened a shop selling Italian ice cream made mostly using local ingredients. For the last few weeks GoGelato in Binh Tan District has been offering ice cream for free to gather feedback for the new …

Fulbright University Vietnam president Dam Bich Thuy has joined the management board of transport infrastructure developer Tasco for the 2022-27 term. She had announced she would leave her post as Fulbright president this summer after an eight-year stint. Thuy, 62, has master’s degrees in management from Harvard University and the …

Vietnam is finding it difficult to sell 102 million liters of RON92, an out-of-date gasoline the country wants to replace with more RON95 in the national reserve. To obtain more space and money for today’s most common and popular gasoline RON95, Vietnam needs to sell its reserves of the cheaper …

A kilogram of Vietnam-grown Musang King now costs VND1.5-1.8 million ($64-$76), 20% higher than imports of the same varietal. A kilogram of husked local Vietnamese Musang King ranges from VND500,000-850,000 per kilogram, equivalent to VND1.5-1.8 million per kilogram (husk removed). The price has increased 10% over the a year ago. …