Ministry wants lending conditions eased for fuel companies
HCMC – Minister of Industry and Trade Nguyen Hong Dien has asked banks to facilitate gasoline imports for suppliers and retailers by easing lending conditions and raising credit limits. Speaking at a conference on fuel supply for the domestic market, chairman of the Vietnam Petroleum Association
Chinese tourist arrivals in Vietnam surge
HCMC – Since China allowed its citizens to travel to Vietnam in groups from March 15, the number of Chinese tourists to Vietnam has increased sharply, according to the General Statistics Office of Vietnam. China ranked fourth among the top 10 source markets for Vietnamese tourism, with 252,100
Sand shortage seen affecting Can Tho-Ca Mau expy project
HCMC – Can Tho-Ca Mau expressway may face a shortage of sand as the supply committed by the Mekong Delta provinces is much lower than needed. With construction work started this year, the expressway needs 18 million cubic meters of sand while sand-supplying provinces can only supply three million
Mobile ID app can be used for boarding domestic flights
HCMC – Passengers can use the mobile ID app VNeID for boarding domestic flights, instead of plastic ID cards or travel documents as from May 2. On May 2, the Civil Aviation Authority of Vietnam, or CAAV, told airports and carriers to use passenger data stored in VNeID app to verify their personal
Vietnam’s foreign trade plunges in April
HCMC – Vietnam’s foreign trade continued trending down in April, with export revenue and import spending plunging 17.1% and 20.5% over the same period last year, respectively, showed official data. Figures from the General Statistics Office (GSO) showed that export revenue in April totaled
Vietnam’s aviation industry starts recovering from pandemic losses
HCMC – Vietnam Airlines and Vietjet Air have reported profits while Bamboo Airways is also on track to reach its breakeven point, partly backed by sharp increases in domestic and international flights during the Tet holiday early this year. Vietnam Airlines has finally eased off 12 consecutive
Tien Giang greenlights two urban projects worth VND2.9 trillion
HCMC – The government of Tien Giang Province has approved two large urban projects with a total investment cost of nearly VND2.9 trillion. The two projects are the Nguyen Trong Hop urban area and a residential project along the Eastern Beltway in Long Hung Commune, Go Cong Town. The Nguyen Trong
April sees foreign investment in Vietnam’s securities down
HCMC – Foreign investment in Vietnam’s securities in April plunged by nearly half versus its peak in 2022 and hit a 12-month low. Foreign investors bought over VND17.8 trillion worth of stocks, fund certificates and warrants listed on the Hochiminh Stock Exchange (HOSE), while they sold securities
HCMC’s CPI drops in April
HCMC – The consumer price index (CPI) of HCMC in April dropped a slight 0.11% month-on-month, but it was still 4.23% higher than the same period last year after a three-month rising streak in January-March, according to the city’s Statistics Office. Among the 11 groups of consumer goods and
SBV orders banks to review corporate bond trade
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, has told banks to make sure that their clients can fully understand the difference between bank deposits and investments in corporate bonds and fund certificates. The central bank has written to commercial banks telling them to
MWG lays off thousands of workers in Q1
HCMC – Weak consumption led Mobile World Investment Corporation (MWG) to cut almost 6,000 jobs between January and March, marking the second consecutive quarter of its mass layoffs. MWG’s financial statement in the fourth quarter of 2022 showed that its workforce had been reduced to just over
Registered capital per enterprise in Vietnam declines in Jan-Apr
HCMC – Though the country saw a rebound in new market entrants in April with nearly 16,000 firms, the average registered capital per enterprise fell in the first four months of the year over the year-ago period. Each company which was registered in the first four months had VND9.3 billion in
