Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Tran Dinh Long, dubbed the “king of steel,” had no experience in the steel industry when he decided to enter it anyway in the mid-90s. “All I had at the time was passion and a lack of fear,” Long, founder and chairman of Vietnam’s biggest steelmaker, Hoa Phat…
Lender VPBank reported a 26 percent jump in pre-tax profit last year to VND13 trillion ($564.24 million). The second and fourth quarters saw its highest ever quarterly profits of VND3.67 trillion and VND3.62 trillion. The lender’s profits exceeded those of…
Vietnam’s trade with China rose by 14 percent last year to $133.09 billion, making it the latter’s sixth-largest trading partner. Its exports to China grew by 18 percent to $48.9 billion, and imports by 12 percent to $84.1 billion, according to the Ministry…
Most real estate classes in Hanoi showed recovery signs in Q4 2020, but Covid-19 uncertainties continue to loom over the market this year. The retail category saw total supply in the last quarter increasing 1 percent year-on-year to 1.6 million square meters…
The State Capital Investment Corporation said it is in discussions with Vietnam Airlines to invest VND8 trillion ($345.49 million) in the carrier through a rights issue. It follows a government resolution to resolve the difficulties faced by the airline due…
The FuKang Technology Company, a Foxconn unit, received a business license Monday to build a plant to produce laptops and tablets in northern Vietnam. The plant will be located in the Quang Chau Industrial Park in the northern province of Bac Giang and will…
Mitsubishi Motors Vietnam is recalling 9,066 Outlander and Xpander cars to fix a fuel pump issue that could cause the vehicle to stall. They include 5,370 Outlanders manufactured in Vietnam between January 15, 2018, and July 21, 2019, and 3,696 Xpanders…
Motorbike sales fell 16.6 percent to 2.71 million units last year, according to the Vietnam Association of Motorcycle Manufacturers. The industry group comprises five major companies, Honda, Piaggio, Suzuki, SYM, and Yamaha, who account for most of the…
Hanoi single-trip ticket passengers reached 63.6 percent of its annual goal, dropping 36 percent year-on-year, while monthly tickets decreased by 34.3 percent compared to 2019. Hanoi Transportation Corporation (Transerco) total revenue in 2020 was VND2.5…
Auto sales climbed to 47,865 units in December, the highest monthly number last year, according to the latest data from Vietnam Automobile Manufacturers Association (VAMA). It represented a 32 percent rise from November and 45 percent increase from the same…
Budget carrier Vietjet Air plans to expand its investment in new aircraft and technical facilities this year after reporting a small profit in 2020 despite the Covid-19 pandemic. “In 2021, we expect to continue to receive new modern planes and will invest in…
Telecom giant Viettel managed to shrug off the effects of the Covid-19 pandemic and achieve its revenue and profit targets in 2020. The military-owned firm reported revenues of VND264 trillion ($11.47 billion), up 4.4 percent from 2019, and pre-tax profit of…
A government think tank has pegged economic growth at 6.46 percent this year thanks to the country’s success in containing the Covid-19 outbreak and maintaining stability. Vietnam is one of the fastest recovering economies in Asia, the Central Institute for…
State-owned lender Vietcombank has announced credit growth and pre-tax profit targets of 12 percent and VND25.2 trillion ($1.09 billion) for 2021. The 12 percent credit growth target matches the target set for the banking industry as a whole, the lender said.…
Vietnam’s rice exports grew by 9.3 percent last year to $3.07 billion though it stockpiled the grain to ensure food security after Covid-19 broke out. But volumes were down 3.5 percent to 6.15 million tons since the country stopped exports for over two weeks…
Banks made huge profits in 2020 although the economy grew at the slowest rate this decade and 70 percent more companies shut down than in 2019. VietinBank, Vietnam’s third largest lender by assets, reported a 40 percent increase in profit. Vietcombank…
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