Business

Vietnam gasoline prices on Monday dropped 1.8 percent to the lowest since Feb. 21 as global rates declined. A liter of popular RON 95 gasoline now costs VND25,600 ($1.10), while that of biofuel RON 92 E5 costs VND24,620. This means prices have fallen 21.3-22.1 percent since this year’s peak on …

OKXE has pioneered the online to offline (O2O) sale of used motorbikes, rejuvenating the market. The inadequacies and bad experience of users when buying used motorbikes are the reason why Wooseok Kim, CEO of OKXE launched an online platform trading used motorbikes in Vietnam. “We want to solve the inconvenience …

Some stores accept payment in cryptocurrency Pi but only partially and require buyers to pay mainly in cash. “I saw a post selling a used iPhone 11 and thought I could buy it with a dozen Pi tokens,” Thanh Son of HCMC told VnExpress. But it turned out he could …

Grocery chain Bach Hoa Xanh suffered an 8 percent fall in sales year-on-year in the second quarter to VND6.76 trillion (US$289.47 million) following its closure of hundreds of outlets. The subsidiary of electronics retailer Mobile World closed 251 unprofitable outlets in May and June as it restructured and also changed …

Long Chau Pharmacy tripled its revenues year-on-year in the first half-year to VND4 trillion ($171.38 million) and opened hundreds of new stores. It increased its contribution to FPT Retail’s revenues from 15 percent to nearly 30 percent in the period. At the end of June, Long Chau had 678 pharmacies, …

The number of new hospitality businesses is rising, but a shortage of staff and tourists from pre-Covid major markets are hampering the tourism industry’s revival. The number of foreign tourists rose 582 percent year-on-year to 602,000, while over 3,000 new accommodation and hospitality businesses were registered, up nearly 28 percent …

The number of new hospitality businesses is rising, but a shortage of staff and tourists from pre-Covid major markets are hampering the tourism industry’s revival. The number of foreign tourists rose 582 percent year-on-year to 602,000, while over 3,000 new accommodation and hospitality businesses were registered, up nearly 28 percent …

The Airports Corporation of Vietnam (ACV) earned after-tax profits of VND2.6 trillion ($111.4 million) in the second quarter, which is higher than two preceding pandemic-hit years combined. The sum is the highest quarterly after-tax profit that the ACV, which operates 22 airports across the country, has earned since it was …

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has announced business results for the first half of 2022 with profit before tax of VND5.304 trillion ($227.25 million), up 26.5 percent year-on-year. First-half profit completed 54 percent of the annual budget. The parent bank’s fee income rose 113 percent …

Prime Minister Pham Minh Chinh has called on South Korean businesses to expand investment to help Vietnam soon become a center in the global value chain. Vietnam’s top priority at this time is to control inflation, stabilize the macroeconomy, and fight recession and recover the economy, Chinh said at a …