Bui Thanh Nhon returns to Novaland as board chairman
HCMC – Bui Thanh Nhon, founder of NovaGroup, has officially come back to the property developer Novaland as chairman and legal representative, according to a press release issued this afternoon, February 3. Nhon’s return to the top post is part of the restructuring project that NovaGroup,
Shorter fuel price review cycle proposed
HCMC – The Ministry of Industry and Trade has proposed reviewing and adjusting fuel prices every seven days, instead of the current 10, to make it possible to align domestic and global gasoline prices. The weekly price review would take place every Thursday, except on holidays. If the adjustment
HCMC businesses need over 14,000 workers in Q1
HCMC – Businesses in the textile-garment, plastics, wholesale, engineering and electronics sectors in HCMC are expected to hire over 14,300 people in the first quarter of this year, according to a survey by the HCMC Department of Labor, Invalids and Social Affairs. Around 5,000 workers will be
An Cuong Wood obtains 2022 business targets
HCMC – An Cuong Wood – Working JSC wrapped up 2022 seeing its revenue and profit surpassing its targets for the year. The company said in its Q4/2022 financial report that it booked more than VND1.3 trillion in revenue and VND170 billion in profit in the final quarter last year, improving 27% and
Expy contractor voices concern over material shortage
HCMC – An expressway that links Quang Ngai and Binh Dinh provinces in central Vietnam needs some 13.9 million cubic meters of building materials such as sand and rocks, but the local mines cannot satisfy the demand, said the project’s contractor. Ho Minh Hoang, chairman of Deo Ca Group, the
HCMC’s Tet retail sales at five-year high
HCMC – Total revenue from retail sales of goods and services during the Lunar New Year (Tet) holiday reached a five-year high of around VND57 trillion, data of the HCMC Department of Industry and Trade showed. Consumption grew strongly during the period from January 14 (the 23rd of the 12th lunar
Finance Ministry suggests taxing land and buildings separately
HCMC – The Ministry of Finance has proposed developing a new property tax law to separate the tax on land from that on buildings. Figures showed that tax collection from agriculture and non-agriculture land accounted for 0.24% of total state budget revenue and 0.03% of the country’s gross domestic
Lam Dong clears 97 hectares of illegal greenhouses, net houses
HCMC – The Central Highlands province of Lam Dong had cleared over 97 hectares among 118 hectares of illegally-built greenhouses and net houses by January 31, reaching 82.69% of the target, according to the Lam Dong People’s Committee. The clearance took place in Dalat City, and Don Duong, Di Linh
Ngoc Hoi station proposed for expansion
HCMC – Hanoi City has approved a proposal to expand the Ngoc Hoi station to integrate with the stations and depots of other railway routes, including the North-South high-speed railway. In a written document issued by the Hanoi People’s Committee to the Ministry of Planning and Investment, Hanoi
Vietnam weighs electricity price hikes in 2023
HCMC – Vietnam is considering hiking electricity tariffs this year as the last adjustment took place almost four years ago while input costs of power generation have soared since. Deputy Minister of Industry and Trade Do Thang Hai said at a press conference yesterday, February 2, that the hike
Work starts on bridge linking Haiphong, Quang Ninh
HCMC – The government of Haiphong City yesterday, February 2, broke ground on a project to build the Lai Xuan Bridge, which will connect the northern port city with neighboring Quang Ninh Province, and widen Provincial Road 352. The Lai Xuan Bridge, which will be 840 meters long and 12 meters
Vietnam emerges as biggest ASEAN wood products exporter to Australia
HCMC – Vietnam became the biggest ASEAN exporter of wooden products to Australia in November 2022, with US$205.6 million, up 26.4% over the same period last year, according to the Agency of Foreign Trade under the Ministry of Industry and Trade. Australia has prioritized the import of wood frame
Steel prices soar three consecutive times in January
HCMC – Domestic steelmakers late last month announced to hike prices, the third spike of the month, reported the local media Domestic steelmakers adjusted up steel prices by VND300,000 – VND700,000 a ton on January 30 to over VND16 million a ton, but the new level is still over VND2 million lower
State Treasury to auction VND400 trillion G-bonds this year
HCMC – The Vietnam State Treasury (VST) has announced a plan to auction VND400 trillion worth of government bonds on the Hanoi Stock Exchange this year. It will raise VND108 trillion from sales of G-bonds with different maturities in the first quarter, including five-year and seven-year bonds
Labor market recovers after Tet
HCMC – Vietnam’s post-Tet labor market is seen recovering in the first quarter of this year, with a surge in hiring demand in labor-intensive industries such as footwear, apparel, manufacturing and services. Job placement centers in HCMC and Hanoi are striving to match job supply with demand. The
HOSE warns Vietnam Airlines over delisting risk
HCMC – The Hochiminh Stock Exchange (HOSE) has written to Vietnam Airlines JSC warning that the carrier’s HVN shares could be delisted from HOSE as the firm has made losses for three years in a row. HOSE said that on June 1, 2022, it had upheld its decision to put HVN shares under watch as […]