Business

The government protects depositors and customers of Saigon Commercial Bank should not panic or withdraw their money, State Bank of Vietnam Governor Nguyen Thi Hong said Monday. Recent rumors about SCB have affected it, and the central bank has acted to ensure its normal functioning and liquidity, she said. “In …

TC Motor, a distributor and assembler of South Korean Hyundai vehicles in Vietnam, will start selling the popular Czech Skoda cars next year. Under a deal it signed with Skoda Auto in Hanoi on Oct. 7, TC will start by distributing imported Skoda cars first before assembling them. The two …

Japanese retailer Aeon plans to triple the number of malls in Vietnam by 2025 as part of its expansion strategy to meet the needs of a growing middle class population. A Nikkei Asia report said the number of Aeon malls will nearly triple to 16 throughout Vietnam. Aeon has some …

The Saigon Joint Stock Commercial Bank (SCB) has increased its interest rate for 12-month term deposits by 1 percentage point to 8.55%, the highest in Vietnam’s banking system. After many depositors rushed to withdraw their term deposits before maturity, SCB has also raised the interest rates for other deposits with …

Reading culture and social responsibility have driven Khai Hoan Land’s business from the very beginning. Khai Hoan Land was founded by Nguyen Khai Hoan and his family in 2009 when Hoan was 24 years old. Beside business and real estate, Hoan is passionate about literature. Understanding the importance of reading …

The gold-plated luxury Rolls-Royce Ghost of Trinh Van Quyet, former chairman of FLC Group, will be auctioned at a starting price of VND10 billion ($418,760). The car was placed as collateral for the credit contract between FLC Faros Construction Joint Stock Company under FLC Group and BIDV, according to Minh …

French luxury ship Le Laperouse, carrying 106 European tourists, became the first international cruise ship to dock at Quy Nhon Port since the pandemic broke out over two years ago. The ship arrived in the popular resort town of Quy Nhon in the central province of Binh Dinh on Saturday …

Millions of people are depositing money in fintech companies that are offering attractive interest rates despite risks related to lack of regulation. Yen Nhi in Ho Chi Minh City has been putting VND500,000 ($20.94) into a fintech app every month for the last few months after seeing an advertisement about …

Yoshiharu Jin, director of Iiyama Seiki Vietnam, has been shunted out of the country for using the image of scissors at a person’s neck in a dismissal notice. Tadashi Terasaka, chairman and general director of the Japanese-invested precision machinery manufacturer, apologized to all employees for the rude image. The management …

Saigon Joint Stock Commercial Bank (SCB) will ensure liquidity in all situations, Deputy CEO Hoang Minh Hoan assured as panicked depositors rushed to withdraw their money. The panic was sparked over suspicions of the bank’s ties with real estate tycoon Truong My Lan arrested on suspicion of financial fraud. The …