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Day: April 25, 2024

Vingroup Chairman insists company will continue to support Vinfast

Vingroup Chairman Pham Nhat Vuong told Vingroups annual shareholders meeting that he will ‘never let go’ of Vinfast, VN Express is reporting. According to the article, Pham insisted that Vingroup and all of its subsidiaries would fall in line behind the electric car project. With Vinfast haemorrhaging money it is

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Vinhomes CEO says firm will not financially support Vinfast

The fact that she is even being asked about it is very telling as to how local investors view Vinfast’s prospects even if the local media is firmly on Vinfast’s side. (Full article is in The Investor). Vingroup owns about 60 percent of Vinhomes, and the head of Vingroup has

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Why the State Banks gold auction failed Monday

A gold auction of State Bank of Vietnam–SBV–gold reserves slated for Monday was cancelled and a gold auction that went ahead Tuesday had just two bidders, as a result of floor prices that were too high, VN Express is reporting. It also says that the minimum volume, of 1,400 taels

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Standard Chartered cuts .7 percent from Vietnam growth outlook

Standard Chartered has said it expects Vietnam’s GDP growth to be around 6 percent in 2024 down from an earlier forecast of 6.7 percent, VN Express is reporting. Notably, the target of 6.7 percent was quite high relatively speaking–Vietnam’s National Assembly, which has a tendency to be overly optimistic, had

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Vietnam IP Conviction ‘Minor Miracle’: Torrent Freak

The People’s Court of Hanoi has sentenced a man to 30 months in prison–suspended–and issued him a fine of US$4000, for online piracy, Torrent Freak has reported. The publication describes the outcome as a ‘minor miracle’ with convictions of intellectual property infringements in Vietnam unusual. This outcome was four years

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