City Ho Chi Minh City Financial News

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Vietnam’s Tourism Advisory Board (TAB) has proposed a long-term visa program to the government to maintain its lead in Southeast Asia’s fast-evolving travel market. The recommendations, submitted to Prime Minister Pham Minh Chinh, include a “golden visa” valid for five to ten years to compete with Thailand, Malaysia, and Indonesia—countries that already offer such schemes to long-stay travellers, Báo Văn Hóa reported. The proposal comes at a time when Vietnam has regained 98% of its pre-pandemic tourism levels, making it the fastest-recovering destination in the region. In 2024, the country welcomed 17.5 million international visitors, overtaking Singapore and trailing only Malaysia and Thailand. The advisory board also suggested introducing a 10-year investor visa with the possibility of permanent residency after five years, and a five-year talent visa with a simplified renewal process, as reported by Thanh Nien newspaper. These programs could be piloted in key tourism hubs like Phu Quoc, Ho Chi Minh City, Hanoi, and Da Nang.

Vietnam, which has now emerged as the fastest-growing tourism destination in Southeast Asia. Now, Vietnam has emerged as the third-most-visited country in the region, with 17.5 million international arrivals in 2024, edging ahead of Singapore. It follows Malaysia, which had 25 million visitors, and Thailand, which remains at the top with 35 million. The numbers also make Vietnam, also referred to as the Land of the Ascending Dragon, the regional leader in tourism recovery. Five years after the Covid-19 pandemic brought global travel to a halt, Vietnam has regained 98% of its pre-pandemic tourism business, outpacing all its neighbours, including Thailand (87.5%) and Singapore (86%). The momentum shows no signs of slowing down. Nearly four million international tourists arrived in Vietnam in January and February this year, a 30.2% increase from the same period last year, according to figures from the Vietnam National Authority of Tourism.

Mumbai and New Delhi ranked among the top 10 most preferred markets for cross-border investment in the APAC region. Mumbai ranked 5th after Tokyo, Sydney, Singapore and Ho Chi Minh City, while New Delhi was tied for the 8th spot along with Seoul, Osaka and Hanoi.

extreme heat as climate change pushes temperatures up, a report found on Sunday, a problem multinational retailers and brands will have to help address. New European Union regulations make retailers selling in the bloc, like Inditex, H&M and Nike, legally liable for conditions at their suppliers, putting pressure on them to help fund improvements to cool factories they source from. In Dhaka, Hanoi, Ho Chi Minh City, Phnom Penh and Karachi, the number of days with «wet-bulb» temperatures — a measurement that accounts for air temperature as well as humidity — above 30.5 degrees Celsius jumped by 42% in 2020-2024 compared to 2005-2009, researchers at Cornell University's Global Labor Institute found.

Truong My Lan was already convicted in April by the same Ho Chi Minh City court of fraud amounting to UDS 12.5 billion — nearly 3 per cent of the country's gross domestic product — in a separate case and sentenced to death by lethal injection. Lan was convicted in April 2024 for embezzlement, bribery, and violating banking regulations. The scheme, which involved shell companies and fake loan applications, siphoned an estimated $12.5 billion from Saigon Commercial Bank (SCB) between 2012 and 2022.

Subscribe to enjoy similar stories. Mumbai-based Harsh Vardhan has never visited Goa, despite being a beach enthusiast. The 31-year-old is in no hurry to visit it anytime soon, as he has found his perfect escape in Da Nang, Vietnam.

Vietnam has approved the construction of a high-speed railway connecting the capital Hanoi in the north with the financial capital of Ho Chi Minh in the south

A Vietnamese real estate tycoon has been convicted of fraudulently obtaining property worth billions of dollars and sentenced to life in prison in a case that has been a centerpiece of the government’s crackdown on corruption

USDT Stablecoin issuer Tether, is bringing blockchain and crypto education to Vietnam, through a strategic partnership announced Tuesday.

A statement from VinaCapital Investment Management confirmed Ho died unexpectedly at his home in Ho Chi Minh City this morning (6 June). The CIO first joined VinaCapital in 2007, moving across from his role as director of investment at Prudential Vietnam. Prior to this, he held several positions across Dell Ventures and Ernst & Young. A succession plan is currently being implemented with the support of VOF board, and Brook Taylor, VinaCapital CEO of asset management, will take over interim leadership of the VOF team, alongside co-managers Khanh Vu and Dieu Phuong Nguyen Thi. CEO an...

Vietnam’s anti-corruption drive, which the ruling Communist Party chief Nguyen Phu Trong likened to a “blazing furnace," is running hot. This year alone, two of the four pillars of power, including the chairman of the parliament and the country’s president, left their posts amid graft allegations. Last month, Truong My Lan, a real estate tycoon and Vietnam’s richest woman, was sentenced to death for her role in a $12 billion fraud case that involved Saigon Commercial Bank, one of its largest lenders.

Real estate tycoon Truong My Lan's death sentence is a pivotal moment in Vietnam’s anti-corruption drive

Vietnam, however, it is rare in financial crime cases and for someone this well known. Lan was involved in the 2011 merger of the troubled Saigon Joint Commercial Bank, or SCB, with two other lenders in a plan coordinated by Vietnam’s central bank. According to the government documents, Lan is accused of using the bank for personal gains, illegally controlling it between 2012 to 2022.

A Vietnamese real estate tycoon has been sentenced to death in the country’s biggest ever financial fraud case

A Vietnam court has sentenced real estate tycoon Truong My Lan to death in the country’s largest financial fraud case

India slipped to their lowest level since early February this week, pressured by sluggish demand, while Thai rates declined for the fourth consecutive week due to a weaker baht. Top exporter India's 5% broken parboiled variety was quoted at $540-$548 per ton this week, down from last week's $550-$558. Prices hit a record high of $560 last month after customs officials changed the calculation method for the 20% export duty, resulting in a higher levy. Demand from Asian buyers was subdued, which brought down prices from the last month's highs, said Himanshu Agarwal, executive director at Satyam Balajee, a leading exporter.

Mint. A bilateral air service agreement mandates a limit on the number of seats or flights that airlines can allocate between two countries. India currently has bilateral air service agreements with 116 countries.

The lure of the city has always been strong for the poor in Vietnam's Mekong Delta

S Jaishankar on Wednesday said the comprehensive strategic partnership between India and Vietnam was emerging as a «source of security, stability and progress in the region.» Jaishankar was speaking when he visited the Indian sail training ship INS Sudarshini, which was on a port call coinciding with his four-day official visit to Vietnam. «Vietnam is the only nation to which India has gifted a fully operational missile corvette INS Kirpan.

Vietnam, Madan Mohan Sethi highlighted the cordial and friendly relationship between India and Vietnam, emphasizing their historical ties through civilization that spans over 2,000 years. «More than 400 Indian companies, small and big have invested in Vietnam for a cumulative value of more than USD 1 billion,» he said. He mentioned that both countries have collaborated in various areas, including trade, defense, and strategic cooperation. He noted the increasing number of Indian tourists visiting Vietnam, with over 400,000 Indian tourists estimated to have visited the country in recent times.

PTI, the airline plans to expand its services to India by introducing a new route between Tiruchirappalli (Tamil Nadu) and Ho Chi Minh City, with the launch expected in November, according to airline officials. In August, Vietjet initiated direct flight services from Kochi in Kerala to Ho Chi Minh City. A senior representative from the airline mentioned that Vietjet currently operates 32 round-trip flights to and from India each week.