US dollar scales record high peak of VND24,000

US dollar scales record high peak of VND24,000

The exchange rate at Vietnamese commercial banks crossed VND24,000 per dollar Thursday, reaching a new peak that it had not scaled before.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Proptech firm Levitate makes its debut in Vietnam

Proptech firm Levitate makes its debut in Vietnam

Singapore-headquartered housing development platform Levitate has made Vietnam its debut market, giving consumers in the country more creative input when buying their own home.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

VN-Index drops for fifth consecutive day despite strong economic data

VN-Index drops for fifth consecutive day despite strong economic data

Vietnam’s benchmark VN-Index dropped 17.55 points Thursday to 1,126.07, despite newly-released data showing the country’s nine-month GDP growth hitting 8.83%, a record high in 12 years.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Hoa Phat Group has begun production at its new home appliance factory worth VND1,000 billion ($42 million) in Ha Nam province.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Four major markets spend $27 billion importing phones, components from Vietnam

Four major markets spend $27 billion importing phones, components from Vietnam

The U.S., EU, China and South Korea imported nearly $27 billion worth of phones and components from Vietnam in the first eight months of the year, according to the Ministry of Industry and Trade.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Hai Phong aims to attract $15 billion in FDI for 2020-2025

Hai Phong aims to attract $15 billion in FDI for 2020-2025

The northern port city of Hai Phong seeks to build 15 more industrial parks totaling 6,200 hectares to attract $15 billion in foreign direct investment in 2020-2025.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Viettel picks Taiwan’s UfiSpace for massive 5G roll out

Viettel picks Taiwan’s UfiSpace for massive 5G roll out

Vietnamese tech giant Viettel has selected Taiwanese 5G solutions supplier UfiSpace to jointly deploy disaggregated cell site gateways for Viettel’s massive 5G rollout in Vietnam.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Ministry proposes inclusion of five coal-fired projects in new power plan

Ministry proposes inclusion of five coal-fired projects in new power plan

The Ministry of Industry and Trade has proposed that the government includes five coal-fired thermal power projects in the national power development plan VIII.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s nine-month GDP growth highest in 12 years

Vietnam’s nine-month GDP growth highest in 12 years

Vietnam’s economic growth of 8.83% year-on-year in the first nine months is the highest recorded in 12 years.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam a top five investment destination for Warburg Pincus: CEO

Vietnam a top five investment destination for Warburg Pincus: CEO

Vietnam is an increasingly attractive and important investment destination for U.S. firms, and one of the five most significant locations for Warburg Pincus, its CEO Charles Kaye said Wednesday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Tokyo Gas, Kyuden Group ink LNG power project pact

Tokyo Gas, Kyuden Group ink LNG power project pact

Japan's Tokyo Gas and Kyuden Group have inked a memorandum of understanding with Truong Thanh Vietnam JSC on jointly developing an LNG-to-power project with a phase-one capacity of 1,500 megawatts in northern Vietnam.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

VN-Index plunges to 19-month low amid broad selloffs

VN-Index plunges to 19-month low amid broad selloffs

Vietnam’s benchmark VN-Index dropped 22.92 points Wednesday, or 1.96%, to 19-month low of 1,143.62 points, due to broad selloffs of major stocks.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Deputy foreign minister fired in pandemic repatriation scam

Deputy foreign minister fired in pandemic repatriation scam

Deputy Foreign Minister To Anh Dung and Nguyen Quang Linh, assistant to Standing Deputy Prime Minister Pham Binh Minh, were fired Wednesday for violations related to repatriation of Vietnamese citizens during the pandemic crisis.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

'Big 4' banks increase deposit rate

'Big 4' banks increase deposit rate

Biggest Vietnamese lenders Vietcombank, VietinBank, and Agribank have hiked their deposit interest rates by over one percentage point, after the central bank raised the deposit rate ceiling last week.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

IFC to help HCMC in waste-to-energy prefeasibility study

IFC to help HCMC in waste-to-energy prefeasibility study

The World Bank’s investment arm IFC will assist Ho Chi Minh City authorities to assess the prefeasibility of developing an advanced waste-to-energy facility in the southern economic hub, the body said Wednesday.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Fed rate hikes challenge Vietnam’s FDI attraction drive

Fed rate hikes challenge Vietnam’s FDI attraction drive

International institutions have lowered their global 2023 growth forecasts following the Fed’s interest rate hikes. Experts fear that investment flows worldwide would leave emerging markets for developed countries. The Investor talks with Professor Nguyen Mai, chairman of the Vietnam Association of Foreign-Invested Enterprises (VAFIE), about possible impacts on Vietnam.

Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7

Transport ministry seeks 10-lane southern Vietnam expressway

Transport ministry seeks 10-lane southern Vietnam expressway

The Ministry of Transport has asked state-owned Vietnam Expressway Development Investment Corporation (VEC) to consider widening Ho Chi Minh City-Long Thanh-Dau Giay Expressway to 10 lanes, instead of the eight proposed by the investor.

Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7

Hai Phong begins construction of $38.5 mln industrial center

Hai Phong begins construction of $38.5 mln industrial center

Construction commenced Tuesday on the $38.5 million GNP Nam Dinh Vu Industrial Center at the Nam Dinh Vu Industrial Park in the northern port city of Hai Phong.

Industrial real estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Finland firm to supply containerboard technology for Cheng Loong in Vietnam

Finland firm to supply containerboard technology for Cheng Loong in Vietnam

Finnish company Valmet will provide Cheng Loong Binh Duong Paper Co. with key process technology for its new containerboard machine 23 at the company’s Ben Cat mill in Binh Duong province, southern Vietnam.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Parliament to discuss amended oil & gas law, anti-money laundering bill

Parliament to discuss amended oil & gas law, anti-money laundering bill

The National Assembly, Vietnam’s parliament, is scheduled to pass seven draft and amended laws at its October-November session, including an amended oil & gas law and one on money laundering.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

Hanoi to start building Ring Road 5 before 2030

Hanoi to start building Ring Road 5 before 2030

Hanoi aims to complete the Ring Road 4 project before 2027 and begin work on Ring Road 5 before 2030.

Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7

Ministry seeks PM nod for Vietnam’s first cargo airline

Ministry seeks PM nod for Vietnam’s first cargo airline

The Ministry of Transport has asked the Prime Minister for permission to grant a license to the country’s first cargo airline, IPP Air Cargo.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Son Kim Real Estate plans $21 mln bond issuance to buy HCMC office project

Son Kim Real Estate plans $21 mln bond issuance to buy HCMC office project

Son Kim Real Estate Investment JSC is planning a private placement of bonds worth VND500 billion ($21 million) this week to purchase The METT office project in Ho Chi Minh City's Thu Thiem new urban area.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam GDP growth to reach 7.2%, top Southeast Asia: WB

Vietnam GDP growth to reach 7.2%, top Southeast Asia: WB

Vietnam's economic expansion can hit 7.2% this year and 6.7% next year, the highest in Southeast Asia, the World Bank says Tuesday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Deputy PM’s assistant arrested in pandemic repatriation scandal

Deputy PM’s assistant arrested in pandemic repatriation scandal

Nguyen Quang Linh, assistant to Standing Deputy Prime Minister Pham Binh Minh, was arrested Tuesday for allegedly accepting bribes related to repatriation of Vietnamese citizens during the pandemic crisis.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

FPT, VinFast join global chip supply chain

FPT, VinFast join global chip supply chain

Vietnamese giants FPT and VinFast are entering the world's semiconductor industry amid a global shortage of this critical part in automobile and electronics manufacturing.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Becamex, India industry confederation sign cooperation agreement

Becamex, India industry confederation sign cooperation agreement

Becamex IDC and the Confederation of Indian Industry (CII) have signed an agreement on partnership in the areas of IT, medical care, electronics, sustainable development and innovation.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Bamboo Capital to sell luxury properties in foreign markets

Bamboo Capital to sell luxury properties in foreign markets

BCG Land and Helios have signed strategic agreements with 13 top realty consultants to distribute properties of their King Crown Infinity project in both domestic and foreign markets.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Gov’t proposes unique tax incentives for Buon Ma Thuot businesses

Gov’t proposes unique tax incentives for Buon Ma Thuot businesses

The government has proposed to the National Assembly unique tax incentives for businesses in some prioritized sectors in Buon Ma Thuot, the biggest town in Vietnam's Central Highlands.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

New US corporate client to buy Boviet Solar panels

New US corporate client to buy Boviet Solar panels

U.S. renewable energy developer Vesper Energy has signed a deal to buy 861-megawatt solar modules from Vietnam-headquartered manufacturer Boviet Solar.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Public investment disbursement hits $10.3 bln, 46.7% of plan

Public investment disbursement hits $10.3 bln, 46.7% of plan

The disbursement of public investment reached VND243,148 billion ($10.25 billion) in the first nine months of the year, or 46.7% of the government's nine-month plan.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam car buyers charged thousands of dollars above sticker prices

Vietnam car buyers charged thousands of dollars above sticker prices

Several Ford, Hyundai and Toyota dealers in Vietnam are shocking customers by charging them thousands of dollars more than the sticker price, citing cost of accessories.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Typhoon Noru forces closure of 5 central Vietnam airports

Typhoon Noru forces closure of 5 central Vietnam airports

Typhoon Noru, one of the biggest to hit Vietnam in 20 years, has forced five airports in the central region to suspend operations for at least 24 hours, starting Tuesday.

Travel - Mon, Dec 22, 2021 | 11:30 am GMT+7

Standing deputy PM’s assistant faces disciplinary action in pandemic repatriation scam

Standing deputy PM’s assistant faces disciplinary action in pandemic repatriation scam

The Central Inspection Committee has proposed the Party Central Committee’s Secretariat considers disciplining Deputy Foreign Minister To Anh Dung and Nguyen Quang Linh, assistant to the Standing Deputy Prime Minister.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

VN-Index plunges amid global downturn

VN-Index plunges amid global downturn

Vietnam’s benchmark VN-Index dropped Monday by nearly 30 points on massive selling driven by global market downturn and the State Bank of Vietnam’s deposit rate ceiling hike.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7