Business

After first unsuccessfully entering the Vietnamese market a dozen years ago, Chinese automaker Haima plans to begin selling cars here again later this year. Tran Viet Son, sales director at Carvivu, Haima’s new distributor in Vietnam, said the company will import 3 Haima models, namely the 8S, 7X and 7X-E. …

The French government’s Agence Française de Développement Group CEO Rémy Rioux visited Vietnam last week in preparation for June’s Summit for a New Global Financial Compact in Paris. During the visit on Feb. 17 and 18, Rioux discussed energy transition issues and worked with Vietnamese authorities to identify opportunities to …

Rémy Rioux, CEO of the Agence Française de Développement (AFD) Group, visited Vietnam last week to discuss investment opportunities in the energy sector. Rioux, also Chairman of the International Development Finance Club (IDFC), visited Vietnam Feb. 17 and 18 as preparation for the Summit for a New Global Financial Compact …

Steelmaker Hoa Sen Group expects a modest after-tax profit of VND100 billion (US$4.2 million) to VND300 billion this year as a raft of potential pitfalls loom. Whichever figure it achieves will be the lowest in the last 10 years, mainly due to anticipated export difficulties. According to the first scenario …

The Ministry of Finance has ordered an increase in inspection of insurance companies to prevent them from partnering with banks to force customers to buy insurance packages in order to get loans. The ministry on Monday ordered its Insurance Supervisory Administration (ISA) to intensify the inspection of insurance companies and …

At least 95% of the public investment budget, or VND676 trillion ($28.47 billion), must be disbursed this year to speed up growth, Prime Minister Pham Minh Chinh said Tuesday. The National Assembly has approved the spending of nearly VND711.7 trillion on public projects this year. Prime Minister Chinh told a …

Gasoline prices dropped Tuesday after two hikes in a row while diesel fell to this year’s new low. RON95 gasoline was sold at VND23,440 ($0.99) per liter starting 3 p.m., down 1.35% from a week ago. Biofuel E5 RON92’s price went down 1.23% to VND22,540. Diesel dropped 3.2% to VND28,860, …

Two Russian tourists were fined 20,000 baht ($580) for jet skiing in Krabi Province in southern Thailand, where the watersport is banned due to the province’s environmental protection measures. On Feb. 19, two tourists were spotted jet skiing near Hong Island off the coast of Krabi and were captured on …

The Ministry of Planning and Investment has brushed off demands for fixing minimum commissions for fuel retailers as it sees this as interference with the market. Many retailers had demanded that the government should fix a minimum commission of 5-6% of retail price of petroleum products so that they do …

The Vietnamese woodwork industry is receiving more and more export orders now mainly due to its penetration into new markets and an ongoing shift in orders from China. According to the Handicraft & Wood Industry Association of HCMC (Hawa), businesses started to receive orders in January, and the recovery is …