Former police chief of Haiphong detained in tax evasion case
HCMC – The former director of the Haiphong City Police Department, Do Huu Ca, has been detained for alleged involvement of tax evasion and illegal trading of invoices that happened in Haiphong and neighboring Quang Ninh Province, the local media reported. The arrest was made yesterday (February
Two huge credit packages are good news for struggling real estate sector
HCMC – Struggling with difficult access to bank loans, the real estate sector has got good news that two major credit packages totaling VND230 trillion would be launched after Prime Minister Pham Minh Chinh met with real estate businesses on Friday. At a hybrid conference on solutions to pull the
PM says Govt will not bail out real estate sector
HCMC – Prime Minister Pham Minh Chinh has said the Government will not bail out the struggling real estate sector. Speaking a hybrid conference on policies and solutions for the frozen real estate sector yesterday, February 17, Chinh said there would be no bailout but government agencies, local
An Giang targets eight million tourist arrivals in 2023
HCMC – The Mekong Delta province of An Giang expects to attract eight million tourist arrivals and make VND5.5 trillion in tourism revenue this year, according to the An Giang Department of Culture, Sports and Tourism. The province wants to develop the tourism sector into a driving force for
Apple contractor Foxconn leases new site in Vietnam
HCMC – Foxconn Technology Group, the biggest contractor of Apple, has signed a lease with the Saigon-Bac Giang Industrial Park Corporation for a 450,000-square-meter site at around US$62.5 million, the local media reported. The new manufacturing site of Foxconn is at the Quang Chau Industrial Zone
Highway 51 investor told to continue road maintenance after toll suspension
HCMC – The Directorate for Roads of Vietnam has told the investor of National Highway 51 to keep road maintenance even although its toll collection has been temporarily suspended. Bien Hoa-Vung Tau Expressway Investment and Development JSC (BVEC) late last month wrote to the Ministry of Transport
Novaland chairman calls for debt restructuring for property firms
HCMC – The chairman of the major Vietnamese property developer Novaland has called for lender banks to restructure debt owed by real estate businesses. Bui Thanh Nhon made the proposal during a hybrid conference held this morning, February 17 to find solutions to cope with woes faced by the real
Vietnam’s fuel imports surge in Jan
HCMC – Vietnam imported 1.03 million tons of fuels worth US$879 million last month, rocketing 70% in volume and 92.6% in value year-on-year, according to the General Department of Vietnam Customs. The country also imported one million tons of crude oil worth US$621 million last month, up 43.8%
EuroCham suggests Vietnam’s visa waiver for all EU nations
HCMC – The European Chamber of Commerce (EuroCham) has proposed Vietnam expand its visa waiver program to all European Union (EU) countries and offer a longer visa-free stay to attract European visitors, EuroCham said in its 14th White Book launched in Hanoi on February 16. Vietnam should
S.Korea tops in foreign-affiliated investments in Vietnam in 2016-2020
HCMC – South Korean investments in affiliated firms in Vietnam ranked first between 2016 and 2020, according to a recent report by the General Statistics Office. Foreign-affiliated firms are known as businesses with a foreign ownership of over 50%. During the period, there were 5,663 South Korean
Two Vietnamese-invested undersea internet cables ready by year-end
HCMC – Two new undersea internet cables, invested by Vietnamese telecom giants VNPT and Viettel, will be put into operation by the end of this year or in early 2024. A representative of Vietnam Posts and Telecommunications Group (VNPT) said that the Southeast Asia-Japan 2 Cable System (SJC2),
Material shortage seen setting back cross-nation expressway project
HCMC – The total quarrying capacity of companies licensed to supply building materials for the North-South expressway is below demand, leading to some components of the expressway possibly falling behind schedule. According to the Transport Construction Investment Management Authority under the