Business

Property developers are laying off their employees in droves and are delaying salary payment for some to survive an idle market. Analysts expect difficulties to linger until the end of next year. For the last several weeks Binh in Ho Chi Minh City has been living off unemployment benefits after …

Vietnam Electricity made a loss of VND31.36 trillion (US$1.32 billion) in 2022 as production costs rose but retail tariffs remained unchanged. The loss is equivalent to 80% of the estimated profits made by all other state-owned enterprises this year, according to a report by the Commission for Management of State …

The U.S. dollar inched down against the Vietnamese dong at both banks and unofficial exchange points Thursday. Vietcombank sold the dollar at VND23,820 Thursday, down 0.17% from Wednesday. Eximbank sold the greenback at VND23,810, 0.13% lower. The rate at Techcombank is VND23,850, down 0.04%, and at ACB is VND23,900, down …

The Thai Hai Reserve Area of Ecological Houses-on-Stilts Village in the northern province of Thai Nguyen was named among the 32 best tourism villages by the World Tourism Organization. The reserve was the only representative in Southeast Asia to make it on to the list that recognizes rural destinations for …

Prime Minister Pham Minh Chinh has ordered relevant agencies to better facilitate tourist entry and develop new tourism products to boost post-lockdown recovery in the travel sector. The PM urged tourism and travel-related agencies to make it more convenient for tourists to enter, travel and stay in Vietnam. He asked …

Banks have lowered deposit rates by 0.4-1.1 percentage points, but the rates have remained relatively high across the board. National Citizen Commercial Bank (NCB) has lowered its 12-month deposit interest rate by 0.5% to 11.5% per year, still among the highest in the industry. Saigon – Hanoi Bank (SHB) reduced …

Vietnam is an unlikely home of the next Elon Musk. That’s why Le Thi Thu Thuy is one person to watch in 2023. The 48-year-old is at the wheel of VinFast, a money-losing electric-vehicle maker racing the U.S. entrepreneur’s Tesla on Western roads. It’s a complicated route. VinFast has made …

The proportion of Japanese enterprises that intend to expand their investment in Vietnam in the next one to two years is 60%, the highest among Southeast Asian countries. This proportion is up 4.7 percentage points from the previous year, Vietnam News Agency quoted a survey on Japanese investment in Asia …

Vietnam’s benchmark VN-Index dropped 0.42% to 1018.88 points Wednesday, lowest since November 28. The index closed 4.25 points lower after losing 15.27 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 17.47% to VND14.41 trillion ($607.63 million). The VN-30 basket, comprising the 30 largest capped …

SJC gold prices plunged 0.59% to VND66.8 million ($2,816.79) per tale Wednesday afternoon. Gold ring prices gained 0.28% to VND54.1 million per tael. A tael equals 37.5 grams or 1.2 ounces. Global gold prices inched lower on Wednesday from a one-week high hit in the previous session, as the dollar …