Finance Ministry wants insurance sales inspected
HCMC – Finance Minister Ho Duc Phoc today, February 20, ordered authorities to inspect insurance sales in the wake of bank tellers being found to force clients to buy life insurance policies. In September last year, Phoc told the Insurance Supervisory Authority to strengthen supervision over
A Business's Guide To Selecting The Right Marketing Model
Marketing is a crucial component of any business, as it helps to increase brand awareness, attract new customers, and ultimately drive sales. However, with so many marketing models, it can be overwhelming for businesses to determine which is right for them. Whether you're a new business or not,
Vietnam imposes anti-dumping duties on furniture from China
HCMC – Vietnam has imposed anti-dumping duties on table and chair imports from China as a sudden spike in imports of these products has impacted local production. According to the Ministry of Industry and Trade’s decision, duties of 35.2% are levied on tables and 21.4% on chairs, with effect from
Ben Tre to invest over VND13 trillion in coastal road
HCMC – The Mekong Delta province of Ben Tre plans to build a 53-kilometer-long coastal road this year at a total estimated investment cost of VND13 trillion, reported the local media. Cao Duc Minh, director of the Ben Tre Department of Transport, unveiled the plan yesterday, January 19, saying the
FLC shares to move to UPCoM
HCMC – FLC Group will move its shares to the Unlisted Public Company Market (UPCoM) on Wednesday, February 22, according to the Vietnam Securities Depository (VSD). Although the Hochiminh Stock Exchange has delisted FLC shares for failure to disclose information as required, the firm is still a
Fruit price fall hits local farmers
HCMC – Fruit prices in southern Vietnamese provinces have dropped by half since the beginning of February, as the demand has been in decline.
Special consumption tax on gasoline still in place
HCMC – The Ministry of Finance refused to lift the special consumption tax on gasoline at the second extraordinary meeting as the country fights climate change and commits to net zero emissions by 2050. The special consumption or excise tax is a government levy on specific goods and services whose
HCMC cuts land rent for Covid-affected individuals, organizations
HCMC – The HCMC Tax Department has announced rent cuts for land and water surfaces for those affected by the Covid-19 pandemic in compliance with a Government resolution. According to the HCMC Tax Department’s Notification No. 1465, rent reductions for land and water surfaces are applicable to the
Minimizing rental costs with multi-client warehouses
The logistics industry has expanded rapidly with double-digit growth in recent years and become essentially important to Vietnam’s social and economic development. In an interview with The Saigon Times, Mr. Le Thanh Vinh, general manager of Nhatviet Logistics, a logistics expert with 20 years of
Two huge credit packages are good news for struggling real estate sector
HCMC – Struggling with difficult access to bank loans, the real estate sector has got good news that two major credit packages totaling VND230 trillion would be launched after Prime Minister Pham Minh Chinh met with real estate businesses on Friday. At a hybrid conference on solutions to pull the
Work starts on medical university campus in HCMC
HCMC – Work began on the second campus and a teaching hospital of the Pham Ngoc Thach University of Medicine yesterday, February 17. The VND2.4-trillion project is expected to be completed in 2025. The university’s second campus and teaching hospital will be located in Tan Kien Commune, Binh Chanh
HCMC wants to build multi-storey car parks
HCMC – The government of HCMC has written to the Ministry of Construction proposing developing multi-storey car parks to meet the huge parking demand in the city. In a document sent to the Ministry of Construction, the city proposed building prefabricated modular car parks, which maximize the
Mobile World says to close stores in Vietnam, Cambodia
HCMC – Vietnamese retail firm Mobile World JSC will close its AVASport stores in Vietnam and the Bluetronics chain in Cambodia this year. AVASport is a chain of authentic sporting goods stores in Vietnam while Bluetronics is a household electronic appliance store chain in Cambodia, similar to the
PM says Govt will not bail out real estate sector
HCMC – Prime Minister Pham Minh Chinh has said the Government will not bail out the struggling real estate sector. Speaking a hybrid conference on policies and solutions for the frozen real estate sector yesterday, February 17, Chinh said there would be no bailout but government agencies, local
An Giang targets eight million tourist arrivals in 2023
HCMC – The Mekong Delta province of An Giang expects to attract eight million tourist arrivals and make VND5.5 trillion in tourism revenue this year, according to the An Giang Department of Culture, Sports and Tourism. The province wants to develop the tourism sector into a driving force for
Apple contractor Foxconn leases new site in Vietnam
HCMC – Foxconn Technology Group, the biggest contractor of Apple, has signed a lease with the Saigon-Bac Giang Industrial Park Corporation for a 450,000-square-meter site at around US$62.5 million, the local media reported. The new manufacturing site of Foxconn is at the Quang Chau Industrial Zone