The chairperson of Van Thinh Phat, Lan My Truong, whose arrest last year resulted in a brief run-on Saigon Commercial Bank (SCB) with which she was heavily involved, embezzled between US$12 billion and US$44 billion, VN Express is reporting. Over roughly ten years, Truong embezzled the funds by writing fake loans to withdraw the funds from SCB. She was also able to evade detection by paying off regulators.
YOUR VIETNAM DAILY NEWS BRIEF | NOVEMBER 13, 2026
Petrol stations run dry in parts of Vietnam as falling fuel prices squeeze retailers’ margins, despite petrol dropping below US$0.76 per litre. Meanwhile, the
YOUR VIETNAM DAILY NEWS BRIEF | NOVEMBER 12, 2026
Financial difficulties at two major gym chains raise questions about consumer spending and household finances in Vietnam. Meanwhile, a Chinese contractor joins Vingroup’s US$3.9
YOUR VIETNAM DAILY NEWS BRIEF | NOVEMBER 11, 2026
Vietnam’s central bank moves to rebuild foreign exchange reserves despite mounting inflation pressures, raising questions about the government’s economic strategy. Meanwhile, reports of Vingroup-linked
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Interview: Nuno Ribeiro | Tourism & Hospitality Expert | RE: Vietnam tourism + energy crisis + sustainability
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