Economic news 11/24: Land in Hanoi district 283 million/m2; Cienco 5 is forced to pay tax

VietNamNetVietNamNet24/11/2023


- Cienco 5 was forced to pay more than 220 million VND in taxes

On November 24, the Bac Giang Provincial Tax Department announced that it had just issued a decision to enforce tax collection against Cienco 5 Construction Joint Stock Company. The reason is that the taxpayer owed tax and late payment fees more than 90 days after the tax payment deadline and the tax payment extension period. The amount of money being enforced is more than 220 million VND (according to Lao Dong).

- A district in Hanoi has the highest auctioned land price of over 283 million VND/m2.

13/14 plots of land in Cau Giay District, Hanoi have just been successfully auctioned. The total winning bid price of the 13 plots of land sold was more than 39 billion VND higher than the starting price. Of which, the highest winning bid was more than 283 million VND/m2. (See more)

- Proposal to exclude the determination of business-related transactions borrowing from banks

The above content is mentioned in the draft report to the Government by the Ministry of Finance on the necessity of amending and supplementing Decree 132/2020 regulating tax management for enterprises with related-party transactions (according to Thanh Nien).

- Food delivery giant Baemin withdraws from Vietnam

Two months after announcing its downsizing, the Korean food delivery app Baemin announced that it will officially cease operations in the Vietnamese market from December 8. Although it has only been around for more than four years, Baemin has drawn attention from Vietnamese consumers. These are brand ambassadors such as the adorable Fat Cat and the witty Shipperman in the green hat, along with many humane messages and sympathetic sayings that are close to Vietnamese culture. (See more)

- Office workers take advantage of their lunch break to 'hunt' for discounted items.

At noon on November 24, many customers flocked to fashion stores to hunt for discounted items on the occasion of Black Friday. Taking advantage of the short lunch break, many Hanoi office workers went to the streets and shopping malls to hunt for discounted items. (See more)

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Crowds of customers flock to fashion stores to hunt for discounted items on Black Friday. (Photo: Thach Thao)

- Tan Hiep Phat Chairman and his son accused of appropriating 2 projects of female tycoon Dang Thi Kim Oanh

According to the accusation, from January 2019 to November 2020, Mr. Tran Quy Thanh and his two daughters appropriated the assets of 4 victims including: 2 projects Minh Thanh, Nhon Thanh of Ms. Dang Thi Kim Oanh; 29 plots of land of Mr. Nguyen Van Chung, 4 plots of land of Mr. Lam Son Hoang and 2 plots of land of Mr. Nguyen Huy Dong. The total value of the above assets is 767 billion VND (according to Tien Phong).

- SeABank appoints general director

On November 24, with the approval of the State Bank of Vietnam, the Board of Directors of Southeast Asia Commercial Joint Stock Bank (SeABank - code SSB) announced and awarded the decision to appoint Mr. Le Quoc Long as the general director of this bank. Mr. Long joined SeABank in 2005 as deputy general director and has concurrently held many other important management positions of this bank (according to Vietnamplus).

- PNJ and FPT boss wants to turn AI into a 'servant' in the business

The explosion of artificial intelligence (AI) is therefore penetrating many corners of life as well as business activities. Instead of being afraid of AI technology, the bosses of large enterprises believe that we need to boldly explore and apply new technologies, making appropriate choices for each unit. (See more)

- Selling a series of debts of Tan Hoang Minh, headquarters rented as collateral for a loan of 300 billion

Since the beginning of 2023, Agribank has been selling a series of assets and debts related to Tan Hoang Minh Group and companies in the ecosystem. From the headquarters lease contract, Tan Hoang Minh has used it as collateral for loans to at least 4 companies in the ecosystem with a total outstanding debt of nearly 300 billion VND. (See more)

- Issuing ESOP shares at a 'bargain' price, leaders and employees profit 25 times more

The Board of Directors of International Dairy Products Joint Stock Company (code: IDP) has just approved the plan to issue nearly 1.2 million shares under the employee stock option program (ESOP). With the right to buy at par value, while IDP shares are currently priced at nearly VND260,000/share on the market, International Dairy employees are benefiting more than 25 times. (See more)

- Domestic steel prices rebound from 3-year low

Domestic steel prices have been adjusted up again after falling to a 3-year low. Some steel brands have increased their selling prices by as much as VND410,000/ton. Steel prices have increased thanks to better consumption and an upward trend in raw material prices. (See more)

Today, the price of gasoline and oil in the international market continues to decline due to the lack of market support factors. Meanwhile, in the domestic market, gasoline and oil prices have been adjusted down since yesterday afternoon.

The central exchange rate on November 24 increased by 12 VND. The USD price at commercial banks today increased slightly, closing the session listed at 24,050-24,420 VND/USD (buy - sell). Meanwhile, the world USD price decreased slightly.

The stock market on November 24 recorded the VN-Index increasing by 7.12 points to 1,095.61 points. Many stocks that had fallen sharply in the previous session recovered strongly in this session. The real estate group recorded a series of stocks that had increased sharply after falling sharply in the previous session.

Domestic gold prices today increased sharply by 350,000 VND/tael in both directions in the afternoon. In the international market, gold prices remained almost unchanged at a high level due to the USD's decline compared to other major currencies.

Bank interest rates today, November 24, recorded a decrease by Saigonbank. Although the interest rate level is low, depositors can still enjoy interest rates of up to 10.5%/year.



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