The local automobile market has seen signs of recovery before the Lunar New Year holiday, or Tet, as customer demand has increased compared to previous months. Some dealers of Toyota Vietnam and Honda Vietnam said that demand has picked up sharply and their customers are not able to take cars until after Tet or later. According to Toyota Vietnam, there were 581 Camry cars produced last month, of which... 

A 50% stake in the commercial center and hotel complex Kumho Asiana Plaza Saigon in HCMC will be acquired by Asiana Airlines, said Won Il Woo, president and CEO of Kumho Engineering & Construction. “This is an internal deal within Kumho as it is being made between its two subsidiaries, Asiana Airlines and Kumho Engineering & Construction,” he said at a meeting with HCMC vice chairman Le... 

After its announcement last year of a VND6 trillion profit, Vietnam Electricity Group (EVN) said it would have to cover greater expenditures this year, meaning a new bout of price hikes is inevitable. The State-owned group predicted it would suffer a loss of some VND6 trillion for buying diesel oil to generate electricity for the southern region during this year’s dry season. Meanwhile, the price... 

The stock markets in HCMC and Hanoi dropped back sharply as investors started to take profits on Thursday although their combined turnover remained high, at around VND2 trillion. Trading on the Hochiminh Stock Exchange started with optimism carried over from Wednesday as the VN-Index gained in early trade. However, those moments were short-lived, and profit taking pressure quickly led the show... 

Localities, especially Hanoi and HCMC, have licensed real estate projects of their own free will, leading to an oversupply and spelling much trouble for the market, said Tran Ngoc Hung, president of the Vietnam Federation of Civil Engineering Associations. In addition to reviews and strict controls, he suggested the Ministry of Construction consider canceling certain projects and do the job directly... 

Local demand for smartphones will grow strongly this year, Hung Cong Hien, director of the electronics products trading center under FPT Trading Company said, citing their decreasing prices. Hien noticed that more Vietnamese are inclined to buy smartphones as their prices are getting cheaper. “The local smartphone segment posted growth of nearly 50% last year and it is expected to continue to grow... 

The Vietnam National Administration of Tourism (VNAT) has recognized the Intercontinental Danang Sun Peninsula as a five-star resort. The Intercontinental Danang Sun Peninsula nestled in the hills of Danang’s Son Tra Peninsula was put into operation last June. The resort is attractive to those who want to seek new experiences and relax in luxurious rooms overlooking the sea. Invested by Sun Group,... 

Western Union Company on Thursday announced that customers in Vietnam can now receive and manage their international remittances around the clock with their cell phone by registering their Viettel mobile number for Military Bank’s MB Mobile Money service and providing their numbers to family and friends overseas. Thanks to the new service, customers from 110 countries can now enjoy the option of... 

Investors wanting to develop five-star hotels in Kien Giang Province must have a minimum investment of VND1.1 billion for each bed. According to new regulations of the province in a recent decision which aims to ensure the implementation of projects, if wanting to develop an ecological resort, enterprises have to spend at least VND10 billion on a hectare of land and water surface. Regarding hotel...