Proposal to tax sugary drinks; credit growth slows

- Proposal to tax sugary drinks to reduce consumption

On September 20-22, 2023, in Hai Phong, a workshop was held to provide information to the press on solutions to prevent non-communicable diseases in 2023. At the workshop, experts said that taxing sugary drinks is necessary to regulate consumer behavior, thereby minimizing the harmful effects of this type of drink. (See more)

- Slow credit growth, coal businesses find it difficult to borrow capital

On the afternoon of September 21, the State Bank held a Conference on Connecting Banks and Enterprises in Hanoi. Governor Nguyen Thi Hong said that in 2022, credit increased by 14.78%. However, in the first 8 months of the year, capital mobilization increased by only 5.36% compared to the end of 2022. Meanwhile, businesses spoke out about the difficulties encountered in the process of borrowing capital. Some businesses complained that short-term loans from banks took 3 months to be approved (according to Nhip Song Thi Truong/ Dan Tri).

- 50% of media advertising is flowing to cross-border digital platforms

Media revenue in Vietnam reaches several billion USD, however 50% of this is flowing into cross-border digital platforms instead of mainstream press channels with large amounts of knowledge (according to Lao Dong).

- Publicly disclose tax payments by Google, Facebook, TikTok in Vietnam

According to the General Department of Taxation, cumulatively, when the electronic information portal for foreign suppliers was in operation from March 2022 to the end of July this year, Google, Facebook, TikTok... paid nearly VND 9,300 billion in taxes. This is the information shared by a representative of the General Department of Taxation at the seminar "Innovation in tax management in the digital economy" held on the afternoon of September 21 (according to Tien Phong).

- Billion dollar capital flow from Japanese tycoons into Vietnam

Many large Japanese corporations have invested billions of dollars in Vietnam. Japanese capital flows into Vietnam have always been at the top since the two countries established diplomatic relations 50 years ago (1973). (See more)

- VinFast on Chinese electric car company

VinFast shares remain fairly stable at $17-18. The market capitalization of billionaire Pham Nhat Vuong's car company is above that of Chinese car companies and is expected to be stable from the moves of Vietnam's richest businessman. (See more)

In the past 9 sessions, VinFast shares have fluctuated only in the range of 16-18 USD/share.

- Mr. Duc's business sells bananas and earns more than 330 billion VND

In the first 8 months of the year, banana sales brought in a large revenue for Hoang Anh Gia Lai, reaching 338 billion VND, with an output of 30,900 tons. In addition, Mr. Duc's enterprise also expects hundreds of hectares of durian. (See more)

- Thaiholdings changes general director

On September 20, the Board of Directors of Thaiholdings passed a resolution to dismiss Mr. Phan Manh Hung from the position of General Director and appoint Mr. Vu Ngoc Dinh as his replacement. In the first 6 months of 2023, Thaiholdings achieved net revenue of VND 1,320 billion and profit after tax of VND 100 billion, down 50% and 54% compared to the same period last year (according to Nhip Song Thi Truong).

- Mini apartment owners rush to buy rope ladders and masks to keep prices and attract customers

After the mini apartment fire in Khuong Ha, the rental price of mini apartments has not decreased. Many places have also equipped with rope ladders and smoke masks to retain tenants. (See more)

- Tet flight tickets are sky-high

Airlines have just announced that they are selling Tet flight tickets, even though it is not yet the 15th day of the 8th lunar month. However, some crowded routes have sky-high ticket prices. (See more)

Today, the price of gasoline and oil in the world market has plummeted after reaching a 10-month high. Meanwhile, the domestic gasoline and oil price is being managed by the Ministry of Industry and Trade - Ministry of Finance to increase sharply with an increase of 720-870 VND/liter.

On the stock market , VN-Index fell 13.37 points today, down to 1,212.74 points. The stock group caused the most surprise when it fell very deeply. Banking stocks also traded negatively when most recorded red.

The USD price at commercial banks continued to fall today. The central exchange rate decreased by 16 VND, to 24,063 VND. The world USD price skyrocketed. The US Dollar Index (DXY) surpassed the 150-point mark.

Gold prices in the international market today fell after the US decided to keep interest rates at the highest level in 22 years but signaled that it would continue to raise interest rates and anchor them for a long time. Domestic gold prices also cooled down.

Bank interest rates on September 21 recorded 16 banks bringing them below 6%/year for all terms. The “Big 4” group defines a new interest rate level.

Source