Business

Thousands of Vietnam’s top taxi firm drivers quit

Mai Linh Group, one of Vietnam’s biggest taxi firms, saw nearly 6,000 staff leave in the first six months of this year due to the impacts of the fierce competition with app-based taxi services.

Three more OceanBank officers arrested for alleged fraud

The Ministry of Public Security has announced the arrest of three officers of the OceanBank’s Hai Phong branch for their involvement in an alleged fraud that caused total losses of VND400 billion (USD17.63 million) from its clients.

PetroVietnam chief accountant arrested for economic mismanagement

The Ministry of Public Security has detained and launched legal proceedings against chief accountant of the Vietnam National Oil and Gas Group, Le Dinh Mau, for intentionally violating State regulations on economic management causing severe consequences.

Vietnam economy resliant against unexpected shocks: ADB

Vietnam’s economy continues to perform well despite several setbacks, the Asian Development Bank (ADB) said in a report launched Tuesday.

Uber denies rumours of operation suspension

Uber Vietnam CEO, Đặng Việt Dũng, on Saturday denied rumours that Uber would temporarily halt operations in Vietnam until its tax dues were paid.

Lai Chau asked to call on strategic investor in rare earth element mines

Deputy Prime Minister Truong Hoa Binh has requested that Lai Chau province call on strategic investors to invest in rare earth element mines towards deep processing and environmental protection.

Vietnam, Hungarian businesses seek cooperation opportunities

Vietnamese and Hungarian businesses had a chance to step up their cooperation in areas such as information-technology and high-tech agriculture at a forum in Hanoi on September 25.

Hanoi sees bubble tea boom

More and more bubble tea brands are now trying to establish by investing in outlets with attractive designs in big cities, particularly Hanoi.

2017 textile & garment exports forecast to increase 8-9%

August exports reached $2.68 billion, up 8.6 per cent against July, for an eight-month figure of $16.86 billion, up 8.2 per cent year-on-year.

Announcement of Sebrina Holdings Pte. Ltd.

The Sebrina Holdings PTE. Ltd has just announced that Mr. Jean Paul Pierre Roca does not represent the company.

iPhone 8 seeing slow sales in Vietnam

The iPhone 8 is failing to attract customers in Vietnam, with most interest being shown in the iPhone 8 Plus and iPhone X.

Traditional taxis continue fighting against Uber and Grab

The Hanoi Taxi Association have continued their vendetta against app-based taxis with a proposal to the municipal Department of Transport to ban their rivals from using roads traditional taxis can’t use.

Traditional taxi firms turn to technology

The transportation market of Vietnam is witnessing significant changes since the rapid expansion of ride hailing apps Uber and Grab in recent years.

Ministry of Industry and Trade to inspect three loss-making projects

The Ministry of Industry and Trade has proposed to inspect the major loss-making Dung Quat Shipyard, Phuong Nam Paper Mill and Lao Cai Fertiliser Plant.

World Bank Group announces new strategy in Vietnam

The World Bank Group on September 22 announced the Vietnam Country Partnership Framework (CPF) for 2017- 2022 at a workshop in Dong Thap province.

Ministry and Khanh Hoa authorities clash over Grab operation

Even though the Ministry of Transport allowed to implement Uber and Grab pilot projects, the authorities of Khanh Hoa Province are determined to ban Grab due to alleged fears of congestion.

State budget revenues decline compared to GDP: finance minister

Budget revenue over GDP has fallen from 26.3% during the 2006-2010 period to 23.6% of GDP between 2011 and 2016, Finance Minister Dinh Tien Dung has confirmed.

Loss-making FDI firms under scrutiny

The General Department of Taxation has asked localities to increase inspections at FDI firms that suddenly incur losses after the periods they have received incentives expire.