Kinh Bac raises stake in Hung-Yen-based firm
HCMC – Kinh Bac City Development Holding Corporation, whose KBC shares are traded on the Hochiminh Stock Exchange, is expected to raise its ownership at Hung Yen Investment and Development Corporation from 60% to 80%. Kinh Bac has passed a plan on stake acquisition. Under the plan, Saigon
Vietnamese realty firm chairman receives life sentence for fraud
HCMC – Nguyen Thai Luyen, 36, chairman and CEO of HCMC-based propterty firm Alibaba, was sentenced to life in jail for swindling 4,560 investors with 58 non-existent real estate projects. Luyen’s wife, Vo Thi Thanh Mai, received 20 years in jail for the same charge, as well as 12 years for money
China relaxes Covid rules on imported goods
HCMC – The Chinese customs has announced that the country will no longer conduct Covid-19 measures, including nucleic acid testing, at ports of entry for imported goods. The revocation starts from January 8, 2023, and applies to cold-chain food and non-cold-chain items. Meanwhile, Covid-19 testing
Container ship routes resumed in Can Tho port cluster
HCMC – The Tan Cang Foundation, a vessel of Saigon Newport Corporation, arrived at Tan Cang Cai Cui Port in Can Tho City on December 29, marking the comeback of the container ship route to the Mekong Delta city after a six-year hiatus. The vessel was the first to dock at the Can Tho port cluster
Binh Duong starts work on VND1.5-trillion road upgrade project
HCMC – The Binh Duong government today, December 30, broke ground on a project to expand and upgrade Provincial Road 746 from the Tan Thanh T-junction in Bac Tan Uyen District to the Hoi Nghia T-junction in Tan Uyen Town, at a total cost of some VND1.5 trillion. The 11.4-kilometer-long road will
HCMC joins hands with Central Highlands for sustainable economic growth
HCMC – HCMC and five provinces of the Central Highlands region have cut a deal to boost sustainable socio-economic development until 2025. The deal is aimed at unlocking the potential of these localities to create value, contributing to the region’s socio-economic development and forming a link
Some 444,000 autos made in Vietnam in 2022
HCMC – Auto firms in Vietnam manufactured and assembled 39,700 units in December, taking the total this year to about 440,000, according to the General Statistics Office. The total number of vehicles produced in Vietnam, including those imported for assembly, has risen by 14.9% this year compared
HCMC’s GRDP grows over 9% in 2022
HCMC – HCMC’s gross regional domestic product (GRDP) has expanded 9.03% in 2022, according to the municipal Statistical Office. All three main components of the city’s economy have reported a rise. Specifically, the agro-forestry-fishery sector improved by 3.74%, the industry-construction sector
Vietnam targets eight million int’l tourists in 2023
HCMC – Vietnam looks to serve 110 million tourists next year, with eight million of them coming from abroad and 102 million from the home market, said the Vietnam National Administration of Tourism (VNAT). The country is expected to earn roughly VND650 trillion in tourism revenue in 2023, the
Vietnam enjoys trade surplus of US$11.2 billion this year
HCMC – A strong export performance sent Vietnam’s trade surplus to US$11.2 billion in 2022, according to the General Statistics Office. The country’s export revenue totaled US$371.85 billion this year, up 10.6% year-on-year. Domestic companies shipped goods worth US$95.09 billion, rising by 6.5%
Vietnam’s GDP growth at 11-year high in 2022
HCMC – Vietnam’s gross domestic product (GDP) expanded by an astounding 8.02% in 2022, the highest growth rate since 2011, according to the General Statistics Office. In the fourth quarter of 2022, the country’s GDP edged up by 5.92% year-on-year, slightly above the figures in 2020 and 2021. All
HCMC hands over 34 hectares of land to Beltway No. 3 project
HCMC – The government of Thu Duc City in HCMC today, December 29, handed over 34 hectares of cleared land to the My Thuan Project Management Board to develop the Tan Van-Nhon Trach section, called component 1A, part of the Beltway No. 3 project. The Tan Van-Nhon Trach section requires nearly VND7
GAB shares under watch due to poor liquidity
HCMC – The Hochiminh Stock Exchange (HOSE) has decided to move the stock of FLC Mining Investment & Asset Management JSC (GAB) from the warning list to the list of stocks under watch, with effect from January 5, 2023. According to HOSE, GAB has seen no transactions since the end of March this
VNA adds over 90,000 seats for upcoming Tet holiday
HCMC – Vietnam Airlines (VNA) has announced its third increase in flight frequency, offering an additional 500 flights, equivalent to over 90,000 seats, to satisfy the soaring travel demand during the upcoming Lunar New Year holiday, or Tet. The national flag carrier will operate these flights on
Remittances to Vietnam forecast to rise 4.4% y-o-y
HCMC – Though the World Bank has yet to release official figures, it has forecast that incoming remittances to Vietnam in 2022 will rise 4.4% year-on-year. In 2021, remittances expanded to US$18.1 billion from US$17.2 in 2020. Meanwhile, data from the HCMC branch of the State Bank of Vietnam shows
HCMC to open 14 bus links with Tan Son Nhat airport
HCMC – HCMC will open 14 bus routes at the Tan Son Nhat International Airport to transport passengers to residential areas, tourist sites and coach stations in the city. The local media reported that these bus links will start on a pilot basis on February 1 next year. The Hai Van International