HCMC to host automotive service industry trade fair
HCMC – HCMC is set to host Automechanika HCMC 2023 from June 23 to 25 at the Saigon Exhibition Convention Centre (SECC) in District 7. The event, organized jointly by Messe Frankfurt (HK) Ltd, Chan Chao International Enterprise Group, and Yorkers Exhibition Service Vietnam, will showcase the
Vietnam’s Jan-Jun air passengers up 49.6%
HCMC – Vietnam’s air passenger traffic has soared in the year to date, with Vietnamese airlines carrying 34.7 million passengers, up 49.6% compared to the same period last year. Out of the total passenger count, 14.7 million are international guests, a five-fold surge compared to the previous
South Korean president set to visit Vietnam next week
HCMC – South Korean President Yoon Suk Yeol will be visiting Vietnam next week at the invitation of Vietnamese President Vo Van Thuong. The Office of the South Korean President announced on Tuesday that President Yoon will be accompanied by senior executives of 205 South Korean businesses during
Higher domestic airfare caps likely
HCMC – The Ministry of Transport is currently gathering feedback on a draft circular in which domestic airfare caps would rise by VND50,000 to VND250,000 per ticket depending on routes. According to the draft circular, the proposed airfare caps for domestic routes between 500 kilometers and below
Coal-fired power plants to shift to using ammonia and biomass fuels
HCMC – Thermal power plants will be required to develop a roadmap for shifting to running on biomass or ammonia after operating for 20 years. Failure to do so will result in the closure of these plants after 40 years of operation. Minister of Industry and Trade Nguyen Hong Dien was speaking of
Korean enterprises pour 1.5 billion USD into investing in Hai Phong, Vietnam
Hai Phong leaders awarded investment certificates with a total capital of 230 million USD to Korean enterprises, opening an investment package of 1.5 billion USD.
'Real estate businesses in Vietnam are like people about to drown'
Real estate businesses simultaneously fell into a state of "suffocation" for a long time and were like people about to drown, according to VARS.
Deposits soar in Q1 despite interest rate cuts
HCMC – Individuals’ deposits at commercial banks in the first quarter of 2023 soared by around VND415 trillion, the highest level in over 10 years, despite lower interest rates, showed data from the State Bank of Vietnam (SBV). By the end of March, individuals’ deposits totaled VND6,280 trillion,
Vietnam’s fishery export may fall short of full-year goal
HCMC – The revenue target of US$10 billion for Vietnam’s fishery export may not be met as business conditions are expected to continue to worsen until the third quarter of the year. According to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood shipments
Interest exemption proposed for late tax payments
HCMC – The Ministry of Finance has written to the National Assembly proposing issuing a resolution that would exempt loss-making businesses from interest on late payments of taxes, land use fees and land rentals in 2022 and 2023. If approved, the proposal could result in lost revenue of VND2.5
Auto imports plummet in May
HCMC – May saw Vietnam’s completely-built-up (CBU) automobile imports dipping a staggering 33.6% to US$191 million compared to April. General Department of Vietnam Customs data showed that the country imported 7,600 CBU units last month, down 38.3% against the previous month. Indonesia emerged as
VND600 billion proposed for riverside embankments in HCMC
HCMC – The Transport Department of HCMC has proposed using VND600 billion from the municipal budget to construct three embankment projects to address riverbank landslides. The Can Giuoc, Cho Dem, and Saigon embankment projects are among 11 projects submitted by the department to the HCMC People’s
