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A customer using a tablet at a HDBank (HDB) branch. HDB rose 1.2 per cent Monday. — Photo courtesy of the bank Vietnamese shares opened higher on Monday, led by banking and large-cap stocks which were bolstered by continued improvements in investors’ sentiment. On the Ho Chi Minh Stock Exchange, the VN-Index edged up 0.32 per cent to close Monday at 1,256.75 points. The VN-Index had risen by 3.85 per cent last week. Some 699 million shares worth VND15.8 trillion (US$675.5 million) were traded on the southern exchange. The market's breadth was positive with 271 stocks climbing, of which 75 stocks hit ceiling prices, while 189 stocks declined. The index's rallies were driven by sharp gains in some large-cap stocks, especially in the banking sector. The VN30-Index, which tracks the 30 biggest stocks on HoSE, jumped 0.36 per cent, to 1,276.70 points. In the VN-30 index, gainers included Sacombank (STB), HDBank (HDB), ViBank (VIB), VPBank (VPB), Techcombank (TCB) and … [Read more...] about Shares open the week higher on banking sector

After Vietnam's tax authorities enhanced the collection of taxes from traders on digital platforms, including social networks and e-commerce sites, many traders are seeking ways to avoid paying them or pass the buck to buyers. Shopping on websites, e-commerce platforms, and social networks is a national trend. E-commerce has boomed in Vietnam with revenue of some US$13.7 billion in 2021. The figure is forecast to reach $39 billion by 2025. However, the tax revenue from this sector has not risen commensurately its growth. Multiple tricks to avoid taxes Minh Thu, living in Thu Duc City, a district-level city in Ho Chi Minh City, said after ordering a pair of shoes from an online trader on Facebook, she was surprised as the trader announced that from August 1, customers must make payments in advance and the trader will not offer the cash-on-delivery (COD) service as earlier. Money transfer descriptions must not include the words 'buy' or 'sell,' but Facebook or Zalo … [Read more...] about In Vietnam, online vendors seek ways to avoid taxes

General Department of Vietnam Customs’ data showed that the bilateral trade reached US$1.03 billion in the first four months of 2022 (up 15 percent from the same period of 2021), including US$689.13 million worth of Vietnamese exports (up 19.2 percent) and US$342.16 million worth of Vietnamese imports (up 7.3 percent). Tra fish exports are projected to surge by a whopping 97 percent year-on-year in the first five months of 2022, reaching US$1.1 billion Nguyen Thi Hoang Thuy, Head of the Vietnam Trade Office in Sweden, concurrently in Denmark, Norway, Iceland, and Latvia, said Nordic enterprises generally bought Japonica rice from Spain, Italy, Japan and the US, and were excited to discover they could import a similar product with similar quality from Vietnam at a one-third to one half less. Foreign trade accounts for 50-60 percent of the Nordic bloc’s gross domestic product (GDP). Despite their small population, Nordic countries made an impressive import value … [Read more...] about Vietnamese exports to Nordic markets thrive

Emart Go Vap in HCM City. THACO wants to turn Emart into a leading supermarket chain in Viet Nam. — Photo courtesy of THACO Emart Vietnam plans to open two hypermarkets in HCM City this year, one in Thu Duc City’s Thu Thiem area in October and the other in Go Vap District in December. Chun Byung Ki, general director of THISO Retail, revealed this information at the 2022 Emart Partners Day in HCM City on August 5, which was attended by more than 500 suppliers, saying the chain aims to have 20 stores across the country and revenues of US$1 billion by 2026 to become the hypermarket chain with a largest market share. Emart Sala Thu Thiem will spread over an area of ​​more than 6,000sq.m inside THISO Mall in Thu Duc City. With its outstanding facilities, Emart Sala Thu Thiem will seek to provide modern and differentiated shopping experiences to customers living in high-end residential areas and their neighbourhoods. Emart Phan Huy Ich in Go Vap District will be located at the … [Read more...] about THACO determined to turn Emart into leading supermarket chain in Viet Nam

NovaGroup alsways focuses on creating a good working environment for its staff The biggest Vocational Day will be organised by NovaGroup at its NovaWorld Phan Thiet this weekend, with over 500 jobs up for grabs. Candidates will be directly interviewed by company executives, receive advice from experts, connect with parters and each other, study NovaGroup’s ecosystem, and visit NovaWorld Phan Thiet. Over 500 jobs in positions such as supervisors, staff, managers at NovaGroup companies such as Novaland, Nova Service, Nova Industry, and Nova Capital Parterswill be offered They are open to applicants from the entire country expecially from HCM City, Binh Thuan Province and neighbour bouring provinces. NovaGroup’s competitive and preferential policies,training and excellent working environment are factors that keep workers at the company for a long time. Staffs are also offered preferential and interesting services available at NovaGroup’s ecosystem. Notably, the company is … [Read more...] about NovaGroup to hold hiring day in Phan Thiet

Food prices have decreased at supermarkets in HCM City, but not traditional markets. — VNA/VNS Photo The sharp fall in fuel prices has caused the prices of goods such as vegetables and meats to decrease in HCM City supermarkets. Petrol prices have fallen four times since June 21 and by a total of 22 per cent, bringing cheer to the public and businesses again by reversing a long period of rise. Fuel prices have decreased to January levels, with E5 petrol now costing VND24,629 per litre, RON95 costing VND25,608 and diesel costing below VND25,000 per litre. The prices of a number of fresh food products, including meat, fish, seafood, vegetables, and fruits, have fallen by 10 per cent at Big C supermarket. Some such as chicken wings and feet, frozen salmon and basa fish are another 5 per cent cheaper if customers buy three kilogrammes or more. MM Mega Market, Emart, Aeon, Co.opmart, and Satra are offering discounts of up to 60 per cent on some items, and an average of around … [Read more...] about Food prices ease at HCM City supermarkets