Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Vietnam’s benchmark VN-Index rose 0.61 percent to 1,268.28 points Tuesday, a new peak, led by Vietcombank and Vinhomes tickers. The index was on an upward trend throughout the day, hitting the 1,286 mark in the early afternoon before falling to the 1,260…
Steel manufacturers in Vietnam have seen profits increase as much 30-40 times in the first quarter as demand surges and prices rise. In Hanoi, Me Lin Steel saw a post-tax profit surge 41 times year-on-year to VND15.5 billion ($672 million), as steel prices…
State-owned Saigon Jewelry Company reported a pre-tax profit of VND75 billion ($3.2 million) for 2020, up 11 percent from the previous year. The company’s revenue rose 26 percent to VND23.49 trillion in 2020, but its financial expenses tripled because of…
U.S. quantitative cryptocurrency trading firm Alameda Research has invested $4 million in Coin98 Finance, a Vietnamese startup and developer of decentralized finance protocols and applications. Decentralized finance (DeFi) refers to the financial applications…
Vietnam imported 3,945 completely built-up (CBU) cars from China in Q1, six times over the same period last year, according to the General Department of Vietnam Customs. Despite the surging number of cars imported from China, the country was the third-largest…
Vietnam had 39 aircraft, or over 14 percent of its fleet, grounded in the first quarter after a new Covid-19 outbreak cut travel demand. Eighteen of the grounded aircraft belonged to national flag carrier Vietnam Airlines, 14 to budget carrier Vietjet, four…
Lotteria Vietnam has said that it will continue its business expansion in Vietnam amid Korean media reports of its closedown over a net loss of nearly US$9 million. The company, which is operated by Lotte GRS under South Korea’s Lotte Group, dismissed a media…
Vietnam is among the top countries in Southeast Asia for coworking space provider WeWork, growing by 8 percent since early last year. Most of its customers in the country are in technology, pharmaceuticals, and manufacturing, while financial organizations are…
Restaurant chain operator Golden Gate saw its post-tax profit plunge 79.8 percent year-on-year to VND65 billion ($2.8 million) in 2020. It posted VND4.5 trillion in revenue, down 5 percent year-on-year, according to its financial statement. Golden Gate…
America’s Citigroup will exit 13 international consumer banking markets, including Vietnam, to shift its focus to four wealth centers. The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale…
The auction of import quotas for used cars at low tariffs under a free trade deal has been canceled after it failed to attract interest. Under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a certain number of used cars can be…
The U.S. has removed Vietnam from the list of economies it considers currency manipulators, reversing a decision made by the Trump administration in December. Its Treasury Department said Friday that no economy currently meets the U.S.’s criteria to be…
HCMC-based energy firm Trungnam Group Friday has put its wind power plant in central Ninh Thuan Province into operation, considered the country’s largest to date. The plant, which spreads over an area of 900 hectares in Thuan Bac District, has 45 turbines…
Private carrier Bamboo Airways is considering an initial public offering of shares in the U.S. this year to raise $200 million. The IPO is expected to take place in the third quarter, with the company likely to offer a 5-7 percent stake to secure a market…
Vietnam targets a 5 percent increase in shrimp exports this year to $4 billion. It also targets output of 930,000 tons and having 740,000 hectares of shrimp farms, said Tran Dinh Luan, director of the Directorate of Fisheries, said at the VietShrimp…
Vietnam Railways owes its 11,300 workers four months’ salaries due to a funding delay by the government, and fears this could cause many to quit. It reminded the government that it was supposed to receive VND2.8 trillion ($121.3 million) at the beginning of…
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