- New proposal on bank loans
The Ho Chi Minh City Real Estate Association (HoREA) has just sent an urgent document to the Prime Minister and the State Bank of Vietnam (SBV), requesting the SBV to urgently consider amending and supplementing Circular 08/2020/TT-NHNN, extending by 12 months the time of application of the regulation that credit institutions use a maximum of 30% of short-term mobilized capital for medium- and long-term loans (proposed to apply from October 1, 2024 instead of October 1) (according to Tien Phong).
- Deputy Governor: Short-term loan interest rate is only 5.5-5.7%/year
At the regular Government press conference in September 2023, Deputy Governor Dao Minh Tu said that as of September 30, the average reduction in lending, especially new loans, was 1-1.3%. The average lending interest rate for short-term loans is from 5.5-5.7%; medium and short-term loan interest rate is from 5.8-10%. The interest rate of previous outstanding loans (not yet due for repayment) and interest payments are delayed because commercial banks previously mobilized very high, even from 10-12%, so there is still a delay (according to Tin Tuc Newspaper).
- Actively regulate goods to Lang Son border gate
On October 1, the Management Board of Dong Dang - Lang Son Border Gate Economic Zone said that the unit has just notified traders and businesses with import-export activities through Lang Son province's border gates about the import-export situation during China's National Day holiday, in order to proactively regulate goods arriving at the border gate. Accordingly, from October 1-6, 2023, the Chinese side will be off for National Day. Huu Nghi, Tan Thanh, and Chi Ma international border gates will still carry out normal import-export clearance; Coc Nam and Na Hinh border gates will be closed until the end of the notice period (according to Tin Tuc Newspaper).
- Hai Phong establishes project to build free trade zone
The project to develop the South Hai Phong Economic Zone, with the core being a free trade zone to exploit the strengths of the marine economy, is a direction that the Minister of Planning and Investment assessed as new, bold, and visionary. This comment was made by Minister of Planning and Investment Nguyen Chi Dung when speaking at the 30th anniversary of the establishment of the Hai Phong Economic Zone Management Board (1993-2023), held on the afternoon of September 30. At the conference, Head of the Hai Phong Economic Zone Management Board Le Trung Kien said that to date, Hai Phong has established 14 industrial parks with an area of 6,080 hectares, attracting nearly 800 investment projects to the city. (See more)
- Proposal to collect non-stop fees at airports
The Airports Corporation of Vietnam (ACV) has just sent a document to the Ministry of Transport regarding the implementation of cashless toll collection and non-stop automatic toll collection at airports. ACV said that recently, the enterprise has worked with units providing non-stop electronic toll collection services. Accordingly, in terms of technology, the use of RFID radio wave object identification technology to implement non-stop toll collection at airports can be applied along with the current toll collection methods that ACV is implementing (according to VNA).
- Modify gold trading conditions
After more than 10 years of implementing Decree 24, the domestic gold market is still disconnected from the world. The State Bank said it will amend Decree 24 on gold trading conditions in the near future (according to Tien Phong).
- Ministry of Industry and Trade requires ensuring electricity supply in 2023
The Ministry of Industry and Trade has just issued a dispatch requesting EVN and related units to develop a plan to ensure electricity supply for the end of 2023 and the following years. According to this agency, the electricity supply situation has improved significantly compared to the first half of 2023. However, electricity supply in the end of 2023 and the coming time is forecast to face many difficulties, potentially affecting the assurance of energy security and ensuring electricity supply for socio-economic development (according to Dan Tri).
- Foreign "big guys" speed up the race with Vietnamese billionaires in the 350 billion USD industry
Vietnam's retail market is hot with an attractive prospect of up to 350 billion USD in size. Big companies from Korea, Japan, Thailand and Singapore are pouring money into competing with Vietnamese billionaires in the market of 100 million people that is getting richer. (See more)
Gold prices today, October 1, on the world market decreased in the context of stronger US government bond yields and the USD, and positive signs in the US economy. Investors predict that the Fed may keep interest rates high for a longer period of time. Higher interest rates have severely affected gold prices.
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