Vietnam’s Vingroup JSC is selling a 41.5% stake in its Vincom Retail unit, retaining an 18.8% stake post-transaction. The sale, confirmed by Vingroup, is expected to complete between March and the third quarter. Vincom Retail's shares surged 6.8% following the announcement, reflecting strong financial performance with a 59% increase in after-tax profit for 2023. Vingroup's divestment aligns with its strategic focus on high-growth areas like electric vehicle manufacturing through its VinFast unit, which is expanding operations in the U.S. and India.

The federal government plans to intervene in a labour dispute that halted operations of Canada's two largest railways, CN and CPKC. A senior Liberal source confirmed the government's intention to step in and resolve the stoppage.

Vietnam's deputy trade minister, Do Thang Hai, was detained on charges related to bribery in connection with Xuyen Viet Oil Travel and Transport Trading Company. This is part of an ongoing anti-corruption campaign that has targeted officials and industry leaders since 2021. The Communist Party's Central Inspection Commission recommended disciplinary action against Hai and others, including a former deputy prime minister, after identifying serious violations in the Ministry of Industry and Trade. Violations included mismanagement of gasoline and oil supply and price stabilization funds, as well as issues with solar and wind power policy. Former deputy prime minister Trinh Dinh Dung, politburo member and former trade minister Tran Tuan Anh, and Vietnam Oil and Gas Group Chairman Hoang Quoc Vuong were also named as responsible for violations.

Gene Solutions, backed by Mekong Capital Ltd., is seeking to raise up to $70 million in 2024 to fund its expansion in Southeast Asia and is considering a share sale by 2026. The company, headquartered in Ho Chi Minh City, has already raised $40 million from previous funding rounds and is reaching out to investors in the U.S., China, and Japan. Gene Solutions operates a network of labs in Vietnam, Indonesia, and Singapore, with plans to expand to the Philippines and Thailand. The funds will also support cancer treatment research and service enhancement. The company offers non-invasive prenatal testing, early cancer screening, and aims to provide treatments globally, with a project to commercialize cell therapy by 2028.

Vietnam's pursuit of inclusion in emerging market indexes faces significant challenges, particularly the requirement for upfront funding by equity investors. Despite its strong economic growth and stock market performance, foreign investors are hesitant due to the need for fully-funded accounts and caps on foreign holdings. The Vietnamese securities regulator is working to meet the criteria for an upgrade, with potential inclusion in FTSE Russell's indexes by 2025. However, the process has been slow, and even if achieved, the upgrade may not guarantee sustained capital inflows, as evidenced by Pakistan's experience. Local investors are optimistic, but global funds remain cautious.

Be Group, a Vietnamese ride-hailing company, raised 739.5 billion dong ($30 million) from VPBank Securities to compete with larger rivals like Grab Holdings Ltd. and GoTo Group. The funding will accelerate Be Group's efforts in the ride-hailing and delivery markets, which are growing due to increased smartphone usage in Vietnam.

Vietnamese electric-vehicle maker VinFast Auto Ltd. has signed an agreement to invest up to US$2 billion in Tamil Nadu, India, to establish an integrated electric-vehicle facility. The initial investment will be US$500 million, with construction starting this year and an annual capacity of 150,000 units. VinFast's founder Pham Nhat Vuong has been appointed as the new CEO, while current CEO Le Thi Thu Thuy will become head of the board of directors. The company is also constructing a US$2 billion manufacturing complex in North Carolina and planning a factory in Indonesia, aiming for aggressive expansion in Southeast Asia and globally. VinFast went public in the US in August and reported a wider loss in the third quarter.

Vietnam’s Be Group secured 739.5 billion dong ($30 million) from VPBank Securities to enhance its competitive stance against Grab Holdings Ltd. and GoTo Group in the ride-hailing and delivery markets. The funds will support Be Group's expansion into new markets and services, aiming for 1 billion rides and $200 million in annual gross revenue by 2026. The company plans to double its active users to 20 million and achieve positive earnings by 2024.

Vietnamese electric-vehicle maker VinFast Auto Ltd. signed an agreement to invest up to $2 billion in India's Tamil Nadu state to establish an integrated EV facility. The initial investment will be $500 million, with construction starting this year and an annual capacity of 150,000 units. VinFast's founder Pham Nhat Vuong has been appointed as the new CEO, while current CEO Le Thi Thu Thuy will become head of the board of directors. The company is also expanding in North Carolina and Indonesia, aiming for aggressive growth in Southeast Asia and global markets. VinFast went public in the US in August and reported a wider loss in the third quarter.

Vietnam's Communist Party has called for disciplinary action against several government officials, including a former deputy prime minister, following a probe that uncovered serious governance lapses in the Ministry of Industry and Trade. The violations, which involve the planning and regulation of solar and wind power policies and the management of gasoline and oil supplies, could result in significant financial losses for the state. This move is part of a broader anti-corruption campaign that has been ongoing since 2021, targeting both public and private sectors and drawing comparisons to similar efforts in China.

The US International Development Finance Corp. (DFC) is considering a $500 million loan to Vietnamese electric-vehicle maker VinFast for a lithium-ion battery manufacturing facility in Vietnam. The loan is under review and approval process. VinFast, which recently went public in the US, is also planning to expand in Southeast Asia with a $2 billion manufacturing complex in North Carolina and potential factories in Indonesia and India.

Vietnamese authorities are intensifying criminal investigations into former real estate executives, significantly impacting the nation's property and bond markets. The Supreme People’s Procuracy is prosecuting Tan Hoang Minh Group’s ex-chairman Do Anh Dung and others for fraudulently appropriating $355 million. The Ministry of Public Security has accused the former chairwoman of Van Thinh Phat Holdings Group of appropriating over $12.5 billion. An anti-corruption committee led by Communist Party chief Nguyen Phu Trong has ordered indictments and trials related to these cases by year-end. These probes have caused a slowdown in the bond market and affected the real estate sector. Additionally, police are seeking to prosecute 85 others in related cases, including a former State Bank official accused of accepting bribes.

Vietnamese authorities are intensifying criminal investigations against former executives of real estate companies, which have significantly affected the nation's property and bond markets. The Supreme People’s Procuracy is prosecuting Tan Hoang Minh Group's ex-chairman Do Anh Dung and others for fraud, while the Ministry of Public Security has accused the former chairwoman of Van Thinh Phat Holdings Group of appropriation. An anti-corruption committee has called for indictments and trials related to these cases. The investigations have caused a slowdown in Vietnam's bond market and real estate sector, with corporate bond sales dropping and a bank run occurring at Saigon Commercial Bank. Additionally, allegations of bribery involving a former head of the State Bank's inspection unit and government inspectors have been reported.

Vietnamese authorities are aggressively stepping up criminal proceedings of former real estate executives whose cases upended the nation’s property market. The intensified probes are aimed at addressing corruption and restoring confidence in the economy, which has been significantly impacted by these high-profile cases.

Techcombank, Vietnam's second-largest private bank and backed by Warburg Pincus, may consider foreign investors as long-term strategic partners, according to CEO Jens Lottner. The bank is not actively seeking new investors but is open to the possibility. Foreign investors currently hold a 22% stake, with a regulatory cap at 30%. Techcombank reported a pretax profit of 5.8 trillion dong in the third quarter, a 13% decrease from the previous year, and has seen assets grow by 11.8% to 781.3 trillion dong as of September 30.

A Vietnam provincial tax authority has ordered three banks to lock accounts for Bamboo Airways JSC due to late tax payments amounting to approximately $4.2 million. The airline, which is undergoing restructuring and cutting unpopular routes, is over 90 days overdue in its tax payments. Bamboo Airways has stated that it plans to meet its payment obligations by November.

Vietnam has reclaimed its position as Southeast Asia’s best-performing stock market, with the VN Index rising 8% in November. Analysts attribute this rebound to improved earnings outlooks and attractive valuations. The country's economy has shown signs of recovery, with the National Assembly setting a growth target of 6% to 6.5% for 2024. Despite risks from slowing global demand and potential US recession, Vietnam's equities remain appealing due to their low valuations. Experts from VinaCapital and Maybank Investment Bank Vietnam express optimism about the market's midterm recovery potential.

A Vietnam provincial tax authority has ordered three banks to lock accounts for Bamboo Airways JSC due to late tax payments amounting to approximately $4.2 million. The airline, which is undergoing restructuring, is over 90 days overdue in tax payments. Bamboo Airways plans to fulfill its payment obligations by November, attributing the delay to prioritizing customer needs. The tax authority has directed the banks to recoup the money for the government, with the order taking effect 30 days from October 24.

VinFast has entered into a $1 billion share sale agreement with Yorkville, allowing the automaker to sell shares over a 36-month period. This move aims to raise capital and add liquidity to its shares. VinFast, which went public in the US in August, has seen its stock fluctuate significantly. The company plans to expand aggressively into Southeast Asian markets and is building a $2 billion manufacturing complex in North Carolina. VinFast's founder, Pham Nhat Vuong, controls 99% of the company and plans to sell 46 million shares to fund expansion. The company aims to break even by the end of 2024 and become profitable after 2025.

Russian President Vladimir Putin has accepted an invitation from Vietnam’s President Vo Van Thuong to visit Hanoi soon. The invitation was extended during their meeting at China’s Belt and Road Forum in Beijing, where Putin also invited Thuong to Russia. Vietnam values its relationship with Russia, aiming to enhance their comprehensive strategic partnership. The announcement comes after US President Joe Biden's visit to Hanoi in September, which elevated US-Vietnam ties. The leaders discussed broadening cooperation across trade, security, defense, technology, and education.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, plans to expand aggressively into Southeast Asian markets, starting with Indonesia, and aims to raise significant capital for its global expansion. The company expects to sell 45,000 to 50,000 vehicles this year and has already delivered over 28,000 vehicles. VinFast is constructing a $2 billion manufacturing complex in North Carolina and plans additional factories in Indonesia and India. Despite reporting a wider loss in the third quarter, the company is on track to break even by the end of 2024 and reach profitability after 2025. VinFast went public in the US in August and plans to release up to 76 million shares to the market. Key shareholders, including Vingroup JSC and Vietnam Investment Group, plan to sell 46 million shares to fund the company's expansion.

VinFast Auto Ltd. has entered into an agreement to sell up to $1 billion worth of new shares to Yorkville Advisors Global over three years. This move aims to increase the public float of VinFast's US-listed stock. The agreement allows VinFast to request Yorkville to purchase its shares at any time during a 36-month period, with shares issued at 97.5% of the market price for the three trading days starting from the advance notice date.

VinFast Auto Ltd. has entered into a $1 billion share sale agreement with Yorkville Advisors Global to enhance the public float of its US-listed stock. The deal allows VinFast to sell shares to Yorkville over three years at 97.5% of the market price. This move aligns with VinFast's strategy for opportunistic capital raising and liquidity enhancement. The company, which went public in the US in August, has seen significant stock volatility and plans aggressive expansion into Southeast Asia, starting with Indonesia. VinFast's founder, Pham Nhat Vuong, controls 99% of the company and plans to sell 46 million shares to fund expansion. The company aims to break even by the end of 2024 and become profitable after 2025.

VinFast Auto Ltd. has entered into a $1 billion share sale agreement with Yorkville Advisors Global to enhance the public float of its US-listed stock. The deal allows VinFast to sell shares to Yorkville over three years at 97.5% of the market price. VinFast's CFO, David Mansfield, stated that the transaction aligns with the company's capital-raising goals. The company, which went public in August, has seen significant stock volatility and plans to expand aggressively into Southeast Asia, starting with Indonesia. VinFast's founder, Pham Nhat Vuong, controls 99% of the company and plans to sell 46 million shares to fund expansion. The company aims to break even by the end of 2024 and become profitable after 2025.

Vietnam's deputy trade minister, Do Thang Hai, has been detained on graft-related charges amid a broader anti-corruption campaign. The investigation, linked to Xuyen Viet Oil Travel and Transport Trading Company, has also implicated other high-ranking officials, including a former deputy prime minister and a politburo member. The Communist Party's Central Inspection Commission has called for disciplinary action against those involved, citing serious governance violations. This crackdown, reminiscent of similar efforts in China, has targeted both public and private sectors, revealing significant lapses in managing gasoline, oil supply, and renewable energy policies.

Vietnam's government is targeting a 6% economic growth for the year, with Prime Minister Pham Minh Chinh advocating for increased spending to boost domestic activity. The best-case scenario is a 6% growth, while the worst-case is 5%. The government is prioritizing industrial development and accelerating public investment disbursement, aligning with IMF recommendations. Despite a 4.2% GDP growth in the first nine months of 2023, the country needs a 10.6% growth in the fourth quarter to achieve the 6% target. The IMF suggests fiscal support due to limited monetary policy impact, and Vietnam's central bank has cut borrowing costs four times this year.

VinFast Auto experienced a remarkable 255% surge in its first day of trading on the Nasdaq Global Select Market, achieving a market value exceeding $85 billion. This positions the Vietnamese electric vehicle manufacturer above major U.S. automakers like Ford Motor and General Motors. The debut follows a merger with Black Spade Acquisition, valuing VinFast at $23 billion, and significantly boosting the net worth of Vietnam’s richest man.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, experienced a significant surge in its Nasdaq debut, with shares doubling to $20.88. The company, which recently merged with Black Spade Acquisition Co., is valued at $23 billion and aims to compete with established EV manufacturers like Tesla and Lucid Group. VinFast's U.S. base is in Los Angeles, and it recently began construction on a North Carolina factory. Despite a recent recall of its electric SUVs in the U.S., VinFast remains optimistic about its future valuation and expansion plans.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, experienced a volatile but successful first day of trading on the Nasdaq, with shares doubling to $20.88. The company, backed by Vietnam’s richest man, completed a merger with Black Spade Acquisition Co., valuing it at $23 billion. VinFast aims to compete with established EV manufacturers like Tesla, Lucid Group, and Rivian Automotive. Despite a shaky start in the US market, including a recall of its electric SUVs, VinFast is optimistic about its future valuation and plans to expand its production capacity with a new factory in North Carolina.

VinFast Auto Ltd., a Vietnamese electric-vehicle maker, experienced a significant surge in its Nasdaq trading debut, with shares doubling early in the day. The company, which has a U.S. base in Los Angeles, went public through a merger with Black Spade Acquisition Co., reaching a valuation of $23 billion. VinFast aims to compete with established car manufacturers like Tesla and Rivian Automotive and plans to expand in the U.S. with a new factory in North Carolina set to begin production in 2025. Despite a recent recall of its electric SUVs in the U.S. due to a software defect, VinFast is optimistic about its valuation and future in the electric vehicle market.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, experienced a significant surge in its Nasdaq debut, with shares doubling to $20.88. The company, which recently merged with Black Spade Acquisition Co., aims to raise its profile and compete with established car manufacturers like Tesla and Lucid Group. VinFast's listing follows years of efforts to become publicly traded and is expected to help the company raise more capital for its U.S. expansion. Despite a recent recall of its electric SUVs in the U.S., VinFast remains optimistic about its valuation and future growth.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, experienced a volatile but successful first day of trading on the Nasdaq, with shares doubling to $20.88. The company, which recently merged with Black Spade Acquisition Co., is valued at $23 billion and aims to compete with established EV manufacturers like Tesla and Lucid Group. VinFast, backed by Vietnam’s richest man, plans to expand in the US, including a new factory in North Carolina. Despite a recent recall of its electric SUVs in the US, the company remains optimistic about its future valuation and growth.

VinFast Auto Ltd., a Vietnamese electric-vehicle maker, experienced a volatile but successful first day of trading on the Nasdaq, with shares doubling to $20.88. The company, which recently merged with Black Spade Acquisition Co., is valued at $23 billion and aims to compete with established EV manufacturers like Tesla and Lucid Group. VinFast's U.S. base is in Los Angeles, and it recently broke ground on a North Carolina factory. Despite a recent recall of its electric SUVs in the U.S., the company remains optimistic about its future valuation and growth potential.

VinFast Auto Ltd., a Vietnamese electric vehicle maker, experienced a significant surge in its Nasdaq debut, with shares doubling to $20.88. The company, which recently merged with Black Spade Acquisition Co., aims to raise its profile and compete with established car manufacturers like Tesla and Lucid Group. Despite a shaky start in the US market, including a recall of electric SUVs, VinFast remains optimistic about its valuation and future growth, particularly with its new factory in North Carolina set to begin production in 2025.

Pham Nhat Vuong, Vietnam's richest man, is set to increase his fortune to $16 billion through a SPAC listing of his electric-vehicle maker VinFast, which could value the company at $23 billion. Despite the potential increase in wealth and ambitious sales forecasts, VinFast faces challenges such as operational issues, a recall in the US, and critical reviews of its vehicle quality. Vuong has invested significantly in VinFast, which is part of his conglomerate Vingroup JSC. The SPAC deal with Black Spade Acquisition Co., founded by Lawrence Ho, is under scrutiny as the EV market has seen several companies fail after similar listings. VinFast remains optimistic about its valuation and future prospects, including a factory in North Carolina and potential new vehicle models.

Vietnam’s electric-vehicle maker VinFast Auto Ltd. plans to start trading on the Nasdaq next week after merging with NYSE American-listed special-purpose acquisition company Black Spade Acquisition Co. The merger, approved by Black Spade shareholders, values VinFast at about $23 billion. VinFast expects to debut on the Nasdaq around August 15 under the symbol VFS. Shares of the SPAC spiked as much as 76% in New York following the announcement.

Pham Nhat Vuong, Vietnam's wealthiest man, is set to significantly increase his fortune through a SPAC listing of his electric vehicle company, VinFast, with Black Spade Acquisition Co. The deal could elevate VinFast's equity value to $23 billion, potentially boosting Vuong's wealth to $16 billion. However, the EV market's volatile history with SPACs and VinFast's operational challenges, including a recent recall and modest sales, pose risks. Despite these hurdles, VinFast remains optimistic about its future, planning to expand its product line and build a factory in North Carolina. Vuong's financial commitment to VinFast underscores his confidence in the venture.

Pham Nhat Vuong, Vietnam's wealthiest man, is set to significantly increase his fortune through a SPAC listing of his electric vehicle company, VinFast, with Black Spade Acquisition Co. The deal could value VinFast at $23 billion, potentially boosting Vuong's wealth to $16 billion. However, the company faces numerous challenges, including operational issues, financial losses, and a critical market reception. Despite these hurdles, VinFast remains optimistic about its future, planning to expand its product line and build a factory in North Carolina. The SPAC merger offers Vuong strategic advantages, though experts predict volatility and potential devaluation.

Pham Nhat Vuong, Vietnam's richest man, is poised to see his wealth surge to $11 billion with the public listing of his electric vehicle company, VinFast, through a SPAC deal with Lawrence Ho's Black Spade Acquisition Co. If successful, Vuong's fortune could reach $16 billion. However, VinFast faces significant operational challenges and market skepticism, particularly given the volatile history of EV companies merging via SPACs. Despite these hurdles, VinFast remains optimistic about its market potential and future growth, including plans for new models and a factory in North Carolina. Vuong's financial commitment to VinFast is substantial, with significant investments from his other businesses and personal funds.

Vietnam’s wealthiest man, Pham Nhat Vuong, is set to see his fortune increase by up to $11 billion through a SPAC listing of his electric-vehicle company, VinFast. The deal, involving Black Spade Acquisition Co. and founded by casino mogul Lawrence Ho, would value VinFast at $23 billion. Shareholders of Black Spade Acquisition Co. are set to vote on the completion of the deal.

VinFast, a Vietnamese electric vehicle manufacturer, will commence construction of its North Carolina factory on July 28, aiming for an initial production capacity of 150,000 vehicles annually by 2025. The plant, part of a $2 billion investment, is expected to create over 7,000 jobs and will serve as the primary supplier of EVs to the North American market. VinFast plans to go public in the U.S. through a merger with Black Spade Acquisition Co., valuing the company at approximately $23 billion. This move aligns with founder Pham Nhat Vuong's global expansion goals.

Vietnamese electric-vehicle maker VinFast plans to list its shares on the Nasdaq Global Select Market during the third quarter after merging with Black Spade Acquisition Co. The decision on whether to list on the New York Stock Exchange or Nasdaq will be announced at a later time.

Vietcombank is seeking advisors for a plan to raise about $1 billion to boost its capital through a private placement of about a 5% stake. The Hanoi-based lender's move is part of a broader trend among Vietnamese banks to increase their capital to compete with rivals.

Vietnam's deputy trade minister, Do Thang Hai, was detained on charges related to graft amid an investigation involving Xuyen Viet Oil Travel and Transport Trading Company. This is part of a broader anti-corruption drive that has targeted officials and industry leaders since 2021. The Communist Party's Central Inspection Commission has called for disciplinary action against Hai and others, including a former deputy prime minister, after finding serious violations in the Ministry of Industry and Trade. The campaign has been compared to similar anti-corruption efforts in China.

VinFast Auto Ltd. has entered into an agreement with Yorkville Advisors Global to sell up to $1 billion in new shares over three years, aiming to increase the public float of its U.S.-listed stock. The deal allows VinFast to direct Yorkville to purchase shares at a slight discount to market price. Despite no obligation to use the full amount, CFO David Mansfield views it as an opportunity for capital raising and adding liquidity. VinFast, which merged with Black Spade Acquisition Co. to go public in the U.S., has seen its stock fluctuate significantly. Founder Pham Nhat Vuong, through Vingroup JSC, holds 99% of VinFast and plans to sell shares for the company's expansion. CEO Le Thi Thu Thuy has expressed intentions to expand into Southeast Asian markets and anticipates raising substantial capital for global growth. VinFast is working towards profitability, with plans for factories in North Carolina, Indonesia, and India, and has begun selling EVs in the U.S.

The article discusses the ongoing issue of Vietnamese people being smuggled into Europe, focusing on the tragic death of 39 Vietnamese migrants, including 19-year-old Tran Thi Ngoc, in a refrigerated truck in Essex in 2019. Despite the risks of exploitation and death, many Vietnamese families continue to send their members abroad in search of better economic opportunities. The United Nations' Economic and Social Council reports that Vietnamese smuggling networks annually bring about 18,000 people to Europe, generating $300 million. The Council of Europe's Group of Experts on Action Against Trafficking in Human Beings (GRETA) notes that traffickers have exploited the coronavirus crisis, with increased online sexual exploitation and delays in the criminal justice system. The article includes personal accounts from survivors and relatives of victims, and highlights the complex push and pull factors driving this migration, including economic opportunities, poverty, and political oppression.