Businessman Hung Dinh caught up in cryptocurrency scandal

Recently, the X (Twitter) account named GM AI Fraud continuously posted a series of articles dragging a Vietnamese businessman named Hung Dinh into a scandal related to investors' cryptocurrency through an artificial intelligence project called GM.AI.

The incident immediately caused a stir in the Vietnamese and international blockchain community, in the context of the upcoming Token 2049 week in Singapore. Many comments from Vietnamese accounts were concerned that the incident would affect the projects of Vietnamese developers in the international community. (See details)

Trump's group wants to open a golf course in Hung Yen

Earlier this week, Hung Yen provincial leaders worked with senior leaders of The Trump Organization - the family business of former US President Donald Trump. This group wants to cooperate and invest in Hung Yen in the fields of hotel construction, golf courses and entertainment complexes.

The Trump Organization has hundreds of companies, worth billions of dollars, is a giant in the real estate, hotel and golf course sectors in the US, but also has ups and downs following Mr. Trump's political path. (See details)

Mr. Pham Nhat Vuong: It is necessary to appoint investors to speed up social housing.

At the Conference of the Government Standing Committee working with businesses on solutions to contribute to socio-economic development held on September 21, Mr. Pham Nhat Vuong, Chairman of Vingroup, said that the biggest current limitation for social housing is related to the content of 10% profit. The Group proposed that the Government have a mechanism to designate investors to shorten the time to complete procedures.

According to Mr. Vuong, if real estate businesses carry out this activity with a profit of 10%, it cannot be done, because if the capital is stagnant for only 1-2 years or the sale is delayed for 1-2 years, it will be a loss, while social housing is a contribution, not a business. (See details)

Ms. Nguyen Thi Phuong Thao: Let's turn Vietnam into the world's aviation center

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Ms. Nguyen Thi Phuong Thao, Chairwoman and General Director of Sovico Group. Photo: VGP

Also at the above conference, Ms. Nguyen Thi Phuong Thao, Chairwoman and General Director of Sovico Group, said that in the context of current economic challenges, it is necessary to create conditions for aviation to quickly attract international tourism, trade and investment to Vietnam.

"Let's turn Vietnam into a regional and world aviation hub. With its favorable location, let's urgently invest in and upgrade the international airport system to become an international passenger and cargo transit hub like Bangkok, Singapore, Korea, etc.," said Ms. Thao. (See details)

Vietravel Airlines suddenly changes general director

On September 17, Vietravel Airlines announced that it had appointed a new general director from September 4.

The person appointed is Mr. Dao Duc Vu. Mr. Vu takes over the position of General Director of Vietravel Airlines, replacing his predecessor Nguyen Minh Hai, who has just resigned from the position of General Director after less than 1 year in office. (See details)

Banks stop collecting interest from borrowers affected by storms and floods

Borrowers in provinces and cities affected by Typhoon Yagi and its circulation will have their loan interest rates waived or reduced by banks, as well as new loan conditions created.

The Vietnam Bank for Social Policies (VBSP) said it will temporarily stop collecting interest from borrowers affected by storm No. 3 and post-storm floods until December 31. (See details)

Vietnam's billion-dollar fish receives more good news from the US

Having earned 1.3 billion USD, Vietnamese pangasius continues to receive more good news from the US market. The best news is that after more than 20 years of being involved in a lawsuit, US authorities have determined that many Vietnamese pangasius fillet exporters are not dumping in the US.

Vietnam is currently the country with the world's top production and export of pangasius. This strong fish of our country has conquered 140 markets, setting a historical record when the export turnover in 2022 reached 2.4 billion USD. (See details)

Fed cuts interest rates sharply

At the end of a two-day meeting on the afternoon of September 18 (early morning of September 19, Vietnam time), the US Federal Reserve (Fed) decided to implement the first interest rate cut since March 2020. Accordingly, the Fed cut interest rates by 50 basis points, from the highest level in 23 years, 5.25-5.5%/year to 4.75-5%/year.

The Fed's decision had an immediate impact on financial, currency and commodity markets. Gold prices soared to a new record high but then fell shortly after, while US stocks fell. (See details)

Tightening regulations on corporate bond investment, the market is more gloomy?

The Ministry of Finance is seeking comments on the draft Law amending and supplementing a number of articles of the Securities Law; Accounting Law; Independent Audit Law; State Budget Law; Law on Management and Use of Public Assets; Tax Management Law; and Law on National Reserves.

In addition to legalizing stock manipulation with regulations restricting transactions with individual investors, to protect the market, the Draft Law on Securities (amended) also requires organizations issuing bonds to the public to have collateral or bank guarantees when applying for an issuance license (except in cases where credit institutions offer bonds as secondary debt that satisfy the conditions to be counted in Tier 2 capital and have a representative of bondholders as prescribed).

The drafter's thinking of amending the regulations on corporate bonds is considered to be "tightening both ends". This may cause the corporate bond market to continue to fall into a gloomy situation. (See details)