Business

Oil and gas giant Petrovietnam achieved record consolidated pre-tax profits of VND82.2 trillion (US$3.48 billion) in 2022. Its revenues surged 48% to VND931.2 trillion, also the highest in its 61-year history, thanks to 3-26% higher production of natural gas, gasoline, fertilizers, and electricity, its general director Le Manh Hung said …

Most gasoline and oil businesses recently surveyed said the fuel market would be more transparent if they had the right to set their own prices. The Ministry of Industry and Trade is drafting a new government decree on gasoline and oil trading that proposes two options. Most gasoline and oil …

Vietnam’s benchmark VN-Index dropped 0.08% to 1,053.35 points Tuesday. The index closed 0.86 points lower after gaining 2.77 points on Monday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 14.00% percent to VND9.71 trillion ($404.58). The VN-30 basket, comprising the 30 largest capped stocks, saw 13 tickers …

The tourism industry should eliminate “zero dollar tours” and focus on improving the quality of services as Chinese visitors prepare to return after three years, experts said. Vu The Binh, chairman of Vietnam Tourism Association, said at a conference on Monday that Vietnam should “play a new game” with Chinese …

Construction materials company Viglacera has reported pre-tax profits of VND2.288 trillion (US$95.3 million) last year, the highest since 2010, with real estate accounting for a major share. Profits from leasing of industrial parks and workers’ housing were worth VND1.62 trillion, 57% higher than in 2021. It was for a second …

Ho Chi Minh City received some $6.8 billion in remittances last year, only a slight decrease compared to 2021 and accounting for 48% of foreign currency deposits at its credit institutions. This cash flow has contributed to generating foreign currency revenue, stabilising exchange rates, and spurring economic growth. According to …

DTS Group has joined with Cornwalls, Algorand-AlgoHub and F5 collective funds to appraise and invest in potential projects in Australia. The evaluated projects mostly focus on fields including physical, digital, and social networks. Through the partnership, DTS Group will promote opportunities for Australian projects to connect and be incubated at …

Property companies have to redeem bonds worth VND10.5 trillion ($447.76 million) that mature this month. They account for 60% of all bonds maturing in January, according to the Vietnam Bond Market Association, while construction firms need to pay out VND5.9 trillion, or 34%. Private bond issuance last year declined by …

The U.S. dollar dropped against the Vietnamese dong on the black market Tuesday morning. Unofficial exchange points sold the greenback at VND23,520, down 0.55% from Monday. Vietcombank kept its rate unchanged at VND23,620. Eximbank sold the dollar at VND23,580, and Techcombank VND23,640, same as Monday. The State Bank of Vietnam …

Pig farmers in southern Vietnam are potentially facing huge losses after pork prices plummeted by 20% in the last two months. Du’s family in Tien Giang Province had been hoping to sell their 120 pigs at high prices before the Lunar New Year on January 23, normally a period when …