vietnam business news

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Four senior staff at Southern Bank charged for hefty losses

Four former leaders and executives at Southern Bank – which was later merged into Sacombank headed by jailed banker Tram Be – have been prosecuted for their alleged collusion with an ex-boss of a private firm, causing hefty losses.

 

Agro-forestry-fishery export earns $26.6 billion in 8 months

The agro-forestry-fishery sector raked in an estimate 3.64 billion USD from exports in August, raising the total value in the first eight months of the year to 26.6 billion USD, up 1.6 percent year on year.

Will 85 percent of garment workers lose jobs in 4.0 industry era?

The scenario that 85 percent of garment workers would lose jobs to robots because of the 4.0 industry revolution will not happen in Vietnam in the next 10 years, businesspeople say.

BUSINESS NEWS 28/8

Traditional taxi firms demand equal treatment with ride-hailing apps

Vietnam's IT and finance catching South Korean attention

South Korean investors are taking more of an interest in Vietnam's IT and financial sectors given the prospects created by new technology.

Former Vietnam Airlines executive to be CEO of Vinpearl Air

Phan Xuan Duc, former deputy general director of the national flag carrier Vietnam Airlines, has been named chief executive officer of Vinpearl Air, which was recently established by Vingroup.

 

Solar power providers left with excess

After rushing to connect to the national grid prior to end-June to benefit from price policies, solar power developers have now found that the grid can't handle the extra capacity.

BUSINESS NEWS 27/8

HCMC cracks the whip on projects

Drivers oppose identification badge proposal

Many motorbike taxi drivers have said it is not necessary for them to wear identification badges, or name tags, issued by grassroots government offices, as proposed by Hanoi City’s Department of Transport.

 

Aviation firm proposes setting up Kite Air

Thien Minh Aviation JSC has proposed establishing a new airline, called Kite Air, with charter capital of VND1 trillion.

 

Bank, e-wallet customers warned of scams

Techcombank and Vietnamese ewallet service provider MoMo have warned their customers to be wary of scammers, noting that they should be more cautious when asked to provide their account details and personal information.

 

Event held in HCMC to promotes VN-Indonesia economic ties

The Embassy of Indonesia in Hanoi, in coordination with the Indonesian Consulate General in HCMC, held the Bali & Beyond event at the Crescent Mall in HCMC from August 23 to 25.

 

VN banks warned about risks of real estate corporate bonds

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms.

 

US-China trade war brings more challenges than opportunities

Many Vietnamese enterprises are keeping a close eye on the escalating US-China trade war and have said the challenges from it outnumber the opportunities for them.

 

Trade deals bring more foreign investment but also challenges

With its series of recent free trade agreements, Vietnam is becoming very attractive to foreign businesses, especially in the textile and garment sector.

 

VN Ministry of Industry & Trade accepts new Chinese origin form for imports

The Ministry of Industry and Trade last week informed the General Department of Customs to accept a new C/O form E in accordance with the ASEAN-China Framework Agreement on Comprehensive Economic Cooperation.

 

Vietnam vibrant with merger and acquisition activities

The merger and acquisition (M&A) scene in Vietnam has become increasingly active with more domestic firms setting up ties with global partners so their brands can reach global customers and develop domestically.

 

Five more MobiFone officials prosecuted for involvement in AVG scandal

Related to MobiFone's AVG purchase case, the Supreme People's Procuracy of Vietnam has approved the implementation of legal proceedings agains five officials of the State-owned telecommunication giant MobiFone.

VN e-logistics sorting out supply

Leading logistics providers are looking to technological investment and e-logistics as Vietnam's limits in infrastructure and connectivity continue.

Strong FDI brings gold for Vietnam’s industrial zone developers

Vietnam is one of the most attractive destinations for the industrial sector in Southeast Asia and JLL expects that the trend will continue in the second half of 2019 and interest from foreign investors in Vietnam will remain strong.