Asian automakers to launch EV business in Vietnam
HCMC – Regional automobile manufacturers have sought to sell electric vehicles (EV) in Vietnam and build car assembly plants for the domestic market. Wuling Hongguang Mini EV, China’s best-selling compact EV, will be made and sold in Vietnam this year, the local media reported. The project is part
PM wants 95% of public investments disbursed in 2023
HCMC – Prime Minister Pham Minh Chinh has set a target to achieve a disbursement rate of at least 95% of all public investments planned for this year, equivalent to over VND676 trillion. He emphasized public investment was a resource and motivation for national development at the teleconference on
English center chain owner Apax Holdings owns $30.9mn in cash despite record losses
Apax Holdings, chaired by Nguyen Ngoc Thuy, has reported a record high of nearly VND697 billion ($29.1 million) in cash and VND40 billion ($1.7 million) in cash equivalents. However, the firm’s last quarter consolidated financial report shows a decline in business results. In the last quarter, the
Vietnam announces plan to combat illegal fishing practices
HCMC – Vietnam has begun to act against illegal, unreported and unregulated (IUU) fishing practices to shed seafood export restrictions imposed by the European Union. The Ministry of Agriculture and Rural Development on February 20 announced its plan to fight IUU fishing within 180 days before the
Last operational undersea cable link with Vietnam turns choppy
HCMC – SMW3, the fifth undersea internet cable connected with Vietnam, has become choppy while the fixing of four other faulty submarine cables has yet to be completed. An internet service supplier in Vietnam said on February 21 that errors have been detected on the SMW3 cable at the S2.7 section
Central bank withdraws money from market ahead of Fed meet
HCMC – Vietnam’s central bank net withdrew over VND30 trillion from the market last week as the banking system saw surplus liquidity due to slow credit growth. It issued 7-day and 91-day treasury bills totaling VND107 trillion, with the 7-day term accounting for much of the amount, at VND87
F88 strikes strategic deal with KBank
HCMC – F88 Business JSC (F88) signed a strategic cooperation partnership with Kasikornbank PCL-HCMC Branch (KBank) to increase financial inclusion to a broader segment of customers, including individuals and micro businesses, providing access to credits with preferential interest rates. This
Can Tho seeks to build new bridge to Dong Thap
HCMC – The government of Can Tho City has written to the ministries of Planning-Investment and Finance proposing building O Mon bridge over the Hau river to connect the city with Dong Thap Province. The proposed O Mon bridge project will have a total length of 5.4 kilometers including the access
Vietnam Register proposes additional manpower
HCMC – The Ministry of Transport has proposed the Ministry of Home Affairs allow Vietnam Register to use contract workers to cope with severe labor shortages at some vehicle registration and testing facilities under the department. The current labor shortages result from many senior officials and
Gasoline prices inch down
HCMC – Domestic fuel prices fell by around VND300-750 per liter or kilogram starting today, February 21, according to an announcement jointly issued by the ministries of Industry-Trade and Finance. RON95-III gasoline and E5 RON92 bio-gasoline now sell for VND23,440 and VND22,540 per liter, with
PNJ reports higher revenue in Jan
HCMC – Phu Nhuan Jewelry Joint Stock Company, which trades its PNJ shares on the Hochiminh Stock Exchange, has announced its January business results, with its net revenue expanding 18.8% year-on-year at VND4.13 trillion. The HCMC-based firm also posted VND302 billion in after-tax profit, up 11.8%
Quang Ninh, Lai Chau reopen border gates
HCMC – After a three-year Covid-19 hiatus, all immigration and freight services between Vietnam and China have been restored at the Mong Cai and Ma Lu Thang northern border gates in Quang Ninh and Lai Chau provinces, respectively. Chinese authorities required individuals entering China via the Bac
Cleared land must be handed over to Long Thanh airport project in Q1
HCMC – Deputy Prime Minister Tran Hong Ha has told Dong Nai Province and the Airports Corporation of Vietnam (ACV) to expedite the clearing of the remaining areas to deliver all sites of the first phase of the Long Thanh International Airport project this quarter. The Government Office has
Over VND7.4 trillion set for railway renovation this year
HCMC – The Vietnam Railway Project Management Board will start upgrading six railway projects this year to improve the national railway system and beef up the capacity of railway transport. Among them, five rail links will be financed by the State budget, while the railway renovation project in
Thailand’s largest retailer to invest US$1.45 billion in Vietnam by 2027
HCMC – Central Retail Corporation (CRC), Thailand’s largest retailer, has announced a new investment amounting to US$1.45 billion in Vietnam in 2023-2027 to expand its operations. After its acquisition of Nguyen Kim, a home appliance distribution chain in Vietnam, and its opening of Go!
Changes to HCMC Beltway 4 project proposed to cut costs
HCMC – In addition to the planned direction, the HCMC government has sent the Government two more alternatives for the Beltway No. 4 project, which are believed to help cut costs and reduce impacts on local residents along the way. The first option follows the original plan, spanning over 17