Business

Binh Son Refining and Petrochemical, which operates the Dung Quat Oil Refinery, estimated its profit will fall by 89% to VND1.6 trillion ($67.86 million) this year against last year. The profit decline is mainly because its Dung Quat Oil Refinery will stop operation for maintenance for some 50 days. Binh …

Drink makers are lobbying against levying a special consumption tax on sweetened beverages, arguing that they do not contribute to health problems such as obesity. At a workshop held to discuss draft amendments to the Law on Special Consumption Tax on Wednesday, Nguyen Thi Lam, former deputy director of the …

Vietnam’s benchmark VN-Index rose 2.12% to 1062.19 points Wednesday, highest in three weeks, after three days in the red. The index closed 22.06 points higher after losing 12.67 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 2.19% to VND10.68 trillion ($453.02 million). The VN-30 …

Thai police are investigating the death of a 55-year-old Russian tourist who drowned off Phi Phi Islands in Krabi Province, around 800 kilometers from Bangkok. The tourist arrived in Krabi Province from Phuket with a tour guide late last weekend and went snorkeling at Monkey Bay, The Phuket Express reported …

Vietnam will waive visas for more countries and extend the length of stay for foreign tourists to speed up the recovery of tourism, Prime Minister Pham Minh Chinh said Wednesday. The list of eligible countries for e-visa issuance will be expanded, the prime minister said at a conference on post-Covid …

FPT Long Chau and Novartis Vietnam have entered into a cooperation to improve the health care of cardiovascular patients and the skills of Long Chau pharmacists. The training program will kick off on March 15, starting with a seminar on “Heart failure management” as part of the heart protection project. …

The State Bank of Vietnam is seeking to reduce the amount banks can lend to their shareholders as part of efforts to prevent manipulation and reduce cross-ownership. It wants to reduce the maximum loan a bank can give a customer to 10% of its capital from the current 15%, and …

The top management of Hanoi firm Bankland have been arrested for allegedly defrauding 4,000 people with a Ponzi scheme and offering shares to the public without permits. Chairman Quan Van Duong and deputy chairwoman and CEO Nguyen Thi Nhu were taken in Tuesday for “appropriation of property” along with three …

The chairman of steel giant Hoa Sen Group hopes to make subsidiary Hoa Sen Home the country’s biggest distributor of construction materials, but two years on, teething troubles continue. After opening 100 new stores last year, Hoa Sen Home now has 112 outlets that sell almost everything needed to construct …

Land in Ho Chi Minh City and neighboring provinces has dropped 10-25% since January as indebted investors continue liquidating their properties. According to real estate consultancy DKRA Vietnam, HCMC and it’s environs have seen only 16 successful transactions this year. The market’s low liquidity has been a problem since mid-2022 …