Challenges for banks ahead
Many banks might have recorded positive profit growth in 2022. But challenges are awaiting them this year given negative factors such as high interest rates and bad debt. Rising interest rates On January 5, 2023, VietinBank said it was looking to obtain VND19.45 trillion in pre-tax profit in 2022,
Vietnam sets 2023 export target of US$394 billion
HCMC – Vietnam has set a target of exporting goods worth US$393-394 billion in 2023, up by US$22 billion or 6% against last year, said a trade official. It would be challenging to reach this export target as the country’s export sector has been facing issues such as high yet unsustainable export
Huawei Vietnam presents educational equipment to remote areas
HCMC – Huawei Vietnam has donated educational technology equipment to the northern mountainous provinces of Phu Tho and Bac Kan to help these remote areas in Vietnam as a way to give back to the community. Fifty-four laptops and many chairs were handed over to Tien Cat Primary School in Phu Tho
HCMC plans to expand four roads
HCMC – Four major roads in HCMC’s Go Vap District that are deteriorating, frequently flooded and overwhelmed by a huge traffic volume could be expanded at a total cost of nearly VND5.9 trillion. The government of Go Vap District proposed the road expansion plan to the HCMC People’s Committee at a
HCMC’s industrial production down 21% in January
HCMC – The index of industrial production (IIP) of HCMC in January fell 21.4% against December last year and 15% against the same period last year, according to the city’s Department of Industry and Trade. The IIP fall resulted from the week-long Lunar New Year holiday in the final week of last
Fuel businesses cry for help
HCMC – Hundreds of fuel companies have written to the prime minister saying the current regulations are putting a strain on their operations. The Government Office said it had received about 250 petitions to revise the law on fuel trading from fuel traders and retailers. In the letters, they asked
Mui Ne has new hotel
HCMC – Travelers visiting the resort town of Mui Ne in the south-central province of Binh Thuan will have more options in accommodation as The Anam Mui Ne has celebrated its grand opening with a design redolent of the Indochine period. The resort is developed on 1.2 hectares of spectacular
Antidumping duties on Chinese cold-rolled steel remain unchanged
HCMC – The Ministry of Industry and Trade has decided to keep in place the antidumping duties on cold-rolled steel coil and sheet imports from China. Vietnam would levy antidumping duties ranging from 4.43% to 25.22% on cold-rolled steel coil and sheet imports from China. The duties, imposed in
Autograph Collection Hotels debut in Vietnam
HCMC – Autograph Collection has joined the Vietnam hotel market with its first facility at Vinpearl Landmark 81, the iconic skyscraper in HCMC’s Binh Thanh District. The hotel commences from the 47th floor of the skyscraper, having 223 rooms that feature artistic flourishes and captivating décor.
State budget revenue from import-export activities drops in January
HCMC – State budget revenue from imports and exports totaled over VND24.8 trillion in January 2023, down 42.3% year-on-year, showed data of the General Department of Vietnam Customs. The fall in January’s State budget revenue is attributed to the week-long Lunar New Year holiday that fell in
Illegally imported elephant tusks detected in Haiphong
HCMC – Haiphong City’s Department of Customs on February 2 coordinated with the competent authorities to inspect and detect nearly 500 kilograms of elephant tusks illegally imported from Africa through Lach Huyen port, the local media reported. A representative of the Haiphong Department of
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,