Airfares for upcoming holiday plunge
HCMC – Domestic airfares for the upcoming holiday have significantly dropped compared to last week’s levels, with many flights seeing a reduction of 25-30% in ticket prices. Vietjet Air has announced to revise down airfares for the Hanoi-HCMC route, departing on April 29 and returning on May 3,
New FDI approvals down in Jan-Apr
HCMC – Fresh foreign direct investment (FDI) approvals nationwide in the year to April 20 had reached nearly US$8.9 billion, down 17.9% against the year-ago period, according to the Foreign Investment Agency at the Ministry of Planning and Investment. There were 750 new FDI projects registered
Banks allowed to reschedule debt
HCMC – Banks can now reschedule debt owed by corporate clients, according to a new circular issued by the State Bank of Vietnam (SBV). Circular 02, which is in force until June 30, 2024, permits banks to extend debt repayment and keep debt classfications unchanged for debtors who are struggling to
VCRE, Nobu Hospitality to develop project in Danang
HCMC – Viet Capital Real Estate (VCRE) and Nobu Hospitality, a luxury lifestyle brand, signed a deal this morning, April 25, to develop a complex of hotels, restaurants and residences in Danang City. The signing ceremony took place at the GEM Center in HCMC, with the participation of Trevor
Authorities to oversee prices of social homes
HCMC – The Ministry of Construction would inspect the real estate sector, particularly social housing projects that are offered at higher prices than normal, said the ministry at its quarterly press conference on April 24. With many social housing projects advertised to be sold at a price hundreds
Central bank eases control over corporate bond buybacks
HCMC – The State Bank of Vietnam (SBV), the central bank, is providing much-needed support for the illiquid corporate bond market by making it easier for local banks and branches of foreign banks to buy back corporate bonds. On April 23, the SBV issued Circular 03/2023, suspending Clause 11,
FPT Telecom wants to spend 87 million USD to invest in undersea fiber optic cable
FPT Telecom is expected to participate in the ALC undersea cable with a total investment of 87 million USD, of which 30% is equity.
Milk tea on the planes: Vietnamese company recovers strongly after covid
Last year, the company selling airline meals collected nearly 22 billion VND from selling milk tea, of which more than half were sold on airplanes in the last 6 months of the year.
Vietnam, Cuba beef up trade, investment partnership
National Assembly (NA) Chairman Vuong Dinh Hue and Cuban Prime Minister Manuel Marrero Cruz attended a Vietnam-Cuba business forum in Havana on April 21 (local time), as part of the former's ongoing official visit to the Latin American country.
Vinh Hao-Phan Thiet expy opened to traffic on May 19
HCMC – Mai Son-National Highway 45 and Phan Thiet-Dau Giay expressways will be opened to traffic on April 29 while Vinh Hao-Phan Thiet expressway will be put into service on May 19. On April 24, the Ministry of Transport issued an inauguration ceremony agenda for the eastern North-South Expressway
Retailers advised to seize opportunities in digital technology
Retailers must adapt and change, especially in modern technology, to survive and grow as consumers have more modern tools to choose goods on online as apposed to just brick-to-mortar stores.
Multiple realty firms exit market in Jan-Mar
HCMC – The number of real estate businesses pulling out of the market surged in the first quarter of this year while new market entrants dropped sharply, according to the Ministry of Construction, At a press conference on April 24, Hoang Hai, director of the Housing and Real Estate Market