Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
SJC gold price dropped 0.15% to VND67.3 million ($2,865.05) per tael Monday morning. Gold ring price went up 0.46% to VND54.8 million per tael. A tael equals 37.5 grams or 1.2 ounces. Reuters reported that global gold prices hit a more than four-week low on…
Airports across Vietnam handled more than 9.8 million passengers in January, an increase of 13.8% compared to the previous month, according to the Civil Aviation Authority of Vietnam (CAAV). Of the total, the number of international passengers reached 2.3…
SJC gold price dropped 0.44% to VND67.5 million ($2,878.46) per tael Friday afternoon. Gold ring price fell 0.54% to VND55.2 million per tael. A tael equals 37.5 grams or 1.2 ounces. Global gold prices steadied on Friday after a sharp sell-off in the previous…
Hoang Tu said his “American Dream” lasted only six months. He was let go from Google two days before the Lunar New Year. “This is the worst Tet (Lunar New Year) of my life,” he said. The 27-year-old joined Google’s new project development team in Silicon…
Vietcombank, Vietnam’s largest state-owned lender, named its current deputy general director Nguyen Thanh Tung as its new general director on Monday. Tung, 49, was the same day elected a member of Vietcombank’s board of management for the 2018-2023 term. He…
Saigon Beer brewer Sabeco saw revenue jump 33% from 2021 to VND35.24 trillion ($1.5 billion) last year as consumption bounced back after two years of Covid-19. The brewer’s post-tax profit surged nearly 40% to VND5.5 trillion, the highest level since it was…
Despite decreases in both imports and exports, the country still enjoyed a trade surplus of $3.6 billion in the first month of 2023, according to the General Statistics Office (GSO). The office reported that in the month, total import-export turnover reached…
Vinasun’s payroll increased by 10% last year, the first time since 2016 hires outnumbered layoffs. The leading taxi operator said it had 2,013 employees at the end of last year, 136 more than at the beginning of the year. General director Ta Long Hy said the…
Vietnam’s fuel oil and gasoline imports almost doubled to US$9 billion last year from $4.9 billion in 2021. Volumes were 28% up to 8.9 million tons. Diesel accounted for 54% of the volume, gasoline for 19% and jet fuel for 16%. South Korea was the biggest…
Manufacturing hubs like Vietnam and South Korea could be hurt this year as global smartphone shipments suffered its worst quarterly drop on record, signaling a cool down in consumer demand. Shipments declined 18.3% year-on-year in the December quarter to a…
A drop in prices and consumption put major steel businesses Hoa Phat, Nam Kim and VNSteel in the red in the fourth quarter of 2022, dragging their annual results to the lowest level in many years. Hoa Phat, which accounts for nearly 35% of Vietnam’s…
Cryptocurrency prices have surged this month, prompting Vietnamese to install mining rigs although it’s not yet a lucrative trade. The price of Bitcoin increased from $18,000 to $21,000 on Jan. 14 and has moved sideways since then. The prices of many other…
Vietnam Airlines reported a loss of VND10.09 trillion ($430.3 million) last year and blamed it on rises in fuel prices and exchange rate volatility. Its revenues were worth around VND71 trillion, equivalent to 70% of revenues in 2019 before the Covid-19…
Hoa Phat Group, Vietnam’s biggest construction steel firm, posted net losses of nearly VND2 trillion ($84.7 million) in Q4 last year, higher than the losses of roughly VND1.8 trillion in Q3. The company’s losses in Q3 was its first quarterly loss in 13 years.…
Samsung Vietnam exported $65 billion worth of products last year, down 0.8% from 2021. The company’s exports accounted for nearly 9% of Vietnam’s total trade turnover of $700 billion last year, Deputy Prime Minister Le Minh Khai said during a recent meeting…
The export turnover of wood and wood products is expected to set a record high of $18 billion in 2023, with wood pellets and woodchips forecast to enter the one-billion U.S. dollar club. President of the Vietnam Timber & Forest Products Association (Viforest)…
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