Business

Vietnam has set up a special panel to find ways to stay competitive for investors when new OECD cross-border tax rules take effect, its central bank said on Tuesday, amid concerns it could negate the benefits of its current tax incentives. With its low labour costs, improving infrastructure and growing …

There will be a mergers and acquisitions boom in the property market over the next year as cash-strapped developers sell assets, analysts have forecast. Neil MacGregor, managing director of Savills Vietnam, said developers have difficulty raising funding and so have to find new sources, including M&A. Both foreign and domestic …

Vietnam’s Be Group said on Tuesday it has signed an agreement with an electric vehicle leasing service that will make it the first ride-hailing firm in the country to use EVs. Be, a homegrown platform with nearly 10 million customers, and GSM, founded by the owner of Vietnamese EV maker …

Authorities in the central province of Khanh Hoa, home to Nha Trang, have slapped fines of VND10 million ($430) against two hotels each for deliberately inflating their star ratings. Areca Hotel, which has not yet been rated, and three-star B&N Hotel in Nha Trang, a popular beach resort town, had …

Targeting consumers not much affected by the difficult economic situation, Japanese retailers are opening more stores in Vietnam. Uniqlo, which has 15 stores in Vietnam after entering three years ago, last month announced plans to expand to the southern province of Binh Duong with a first store to be opened …

American companies including Boeing, Meta and Netflix have demonstrated “remarkable” commitment in Vietnam by seeking local investment opportunities, said the U.S. Ambassador. “It’s pretty remarkable, and it really does show the commitment of the U.S. and U.S. companies to this market and to this relationship,” U.S. Ambassador to Vietnam Marc …

Vietnam’s benchmark VN-Index rose 0.91% to 1032.43 points Tuesday after losing three trading days in a row. The index closed 9.33 points higher after losing 22.04 points on Monday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 14.66% to VND8.32 trillion ($352.8 million). The VN-30 basket, comprising …

Gasoline prices fell to the lowest since Jan. 11 on Tuesday afternoon, while diesel continued to decline. RON95 dropped 3.28% to VND23,030 ($0.98) per liter. E5 RON92 declined by 3.42% to VND22,020. Diesel continued its downward trend with a 5.85% decrease to VND19,300. Globally, RON95 price fell 3.73% to $96.51 …

Solar and wind energy developers who have been late for an incentive rate want a temporary feed-in tariff of 6.2 cents per kilowatt hour while waiting for the authorities to finalize a higher tariff. The price is equivalent to 90% of that of imported energy, representatives of solar and energy …

A cosmetics vendor that accepts payment with Pi cryptocurrency – even though it is not recognized as a legal tender in Vietnam – caused a stir on social media before quickly disappearing. Thu Huong in Ho Chi Minh City’s District 7 recently bought a bottle of makeup remover and a …