Business

Finnish investor PYN Elite Fund has posted a decline in net asset value for five months in a row this year, losing 20 percent, as Vietnam’s benchmark VN-Index tumbled. The fund, which has been investing in Vietnam for nine years, lost 7.9 percent in June as the market declined by …

The HCMC Tax Department has seized a measly VND820,000 ($35) from the bank account of a property developer who won Vietnam’s most expensive property auction. The company, Dream Republic, failed to pay the money it owed for a land lot in HCMC’s Thu Thiem Peninsula within the 180 days deadline, …

Lawmakers will consider further fuel tax cuts at the next session of the National Assembly in October, but the transport industry wants them to be done sooner. Gasoline prices are hovering at record levels of nearly VND33,000 ($1.41) a liter, having risen by 60 percent since the end of last …

Vietnam’s benchmark VN-Index rose 0.41 percent to 1,171.31 points Friday as investors showed caution in “buying the dip” after the Wednesday plunge. The index closed nearly five points higher after gaining 17 points on Thursday. It fell to a 16-month low on Wednesday as inflation and geopolitical concerns continue to …

Importers reject produce that have to be sold at very low prices locally, while processing facilities can’t run at full capacity. Such contradictions abound in Vietnamese agriculture. Ngo Quang Tu, a representative of the Agrotrade Vietnam under the Ministry of Agriculture and Rural Development, said at a forum Thursday that …

Apple, Samsung and Xiaomi have moved their assembly lines out of China to Vietnam, as they seek to reduce dependence on the country. The country offers manufacturers access to the 10-member Association of Southeast Asian Nations (ASEAN) free trade bloc and preferential trade pacts with countries throughout Asia and the …

Highlands Coffee, one of the largest coffee chains in Vietnam, earlier this month hiked its prices by 10-15 percent. It said that the increase served to maintain product quality amid market fluctuations. Hoang Viet, CEO of Laha Cafe, said that coffee chains are seeing costs of coffee surging by 25 …

Google will make its Pixel smartphones in Vietnam for the first time in 2023 as part of efforts to reduce risks and dependence on China, a Taiwanese publication reported. Google, which has a majority of Pixel 6 smartphones made in China, would shift a small portion of production to Vietnam …

The tightening of credit for property development has had a major impact on the market and could cause an industry crisis this year, experts fear. Since 2020 developers have been dependent on bank loans as the government imposed stricter rules for bond issuance, and the latest tightened policy on credit …

Grab has become the first ride-hailing firm in Vietnam to announce a new surcharge on its motorbike services starting Thursday. The surcharges are VND5,000 (20 U.S. cents) for each GrabBike trip and GrabFood order in some localities including HCMC, Hanoi, Hai Phong, Da Nang and Can Tho. GrabExpress services in …