Business

Vietnam’s benchmark VN-Index plunged 2.32% to 1,205.43 points Monday, lowest since July 27. The index closed 28.6 points lower after losing 11.6 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 7.7% to VND16.71 trillion ($706.05 million). The VN-30 basket, comprising the 30 largest capped …

Norbreeze Group marked a milestone in its development journey with the opening ceremony of Norbreeze House in what was District 2 in Thu Duc City on September 9. Norbreeze’s new office is at Lakeview 3, the critical knot that connects the ‘lifeline’ Mai Chi Tho street with the economic hub …

Diversified group Geleximco is set to build a $800 million auto manufacturing and assembling plant in the northern province of Thai Binh that could begin operation in 2024. The company is working with its European partner to study the plan, which is set to cover 50 hectares, a spokesperson told …

The Ministry of Transport has rebuffed a proposal to build a VND6.5-trillion ($276.3-million) airport in Son La Province, home to the world’s longest glass bridge. The rejection came just a week after provincial authorities proposed to include the Moc Chau airport project in the national aviation development scheme in what …

Despite various tax and loan benefits, developers say returns from building social housing are too low while procedures are tortuous. In a document he sent to the 2022 Vietnam Socio-economic Forum on Sunday, Le Huu Nghia, director of the Le Thanh commerce and construction company, listed the multiple hurdles it …

The Hanoi police are investigating a near tragedy in which a foreign tourist was hit by a train while trying to take photos on “Train Street” but escaped unhurt. It happened at noon Sunday after the tourist, whose nationality has not been confirmed, slipped through the barrier set up to …

Vietnam’s top 500 private companies employ 10.4% of the workforce and account for 13% of total assets, according to a new government report. They have combined annual revenues of VND15 quadrillion (US$634 billion), the Vietnamese Private Enterprises (VPE500) report said. The companies are mainly in manufacturing, retail and trade and …

A central bank deputy governor said Saturday that the nation’s credit growth target of 14% for 2022 remains unchanged. Expanding the target will affect the system’s liquidity and lift up interest rates, deputy governor Pham Thanh Ha said at the Vietnam Socio-Economic Forum 2022. The central bank will not expand …

Many workers have been laid off due to downsizing and need new jobs, but companies keep complaining it’s difficult to hire new people. The conundrum persists in Vietnam’s labor market. Over the past month, the Thuan Phuong Embroideries and Garments company has been trying to recruit 200 workers at its …

A new government decree fixes minimum par value of corporate bonds for domestic private placements at VND100 million (US$4,274), up from just VND100,000. With domestically issued bonds, enterprises can only change their terms and conditions if these are approved by the issuer and at least 65% of bondholders, says the …