- Will 'self-produced and self-consumed' rooftop solar power not enjoy incentives?
The Ministry of Industry and Trade has just released a draft decree on the development of rooftop solar power installed in homes and offices in Vietnam, only applying incentive mechanisms to grid-connected rooftop solar power. In cases where rooftop solar power is not connected to the national grid; rooftop solar power for self-production and self-consumption according to Decision 500 of the Prime Minister and rooftop solar power for sale to other organizations and individuals will not be eligible to enjoy the incentive mechanisms of this decree. The Ministry of Industry and Trade said that "self-production and self-consumption" electricity is consumed on-site, not sold to the national grid, not connected or linked to the national grid, so the development capacity may be unlimited (according to Tuoi Tre).
- The Government proposes to extend the 2% VAT reduction policy until the middle of next year.
Authorized by the Prime Minister, Minister of Justice Le Thanh Long has just signed the Government's report to the National Assembly and the National Assembly Standing Committee on extending the 2% reduction in value-added tax (VAT) for a number of goods for another 6 months. The extension of the 2% VAT reduction until the end of June 2024, according to the Government, will only apply to a number of groups of goods and services currently subject to a tax rate of 10%. That is, sectors such as banking, securities, real estate, alcoholic beverages, etc. will not be eligible for this tax reduction (according to VnExpress).
- Tax refund of nearly 113 trillion VND in the first 10 months of the year
According to information from the General Department of Taxation, as of October 31, the tax authority had issued 15,025 decisions, corresponding to nearly VND 113 trillion in tax refunds. The total amount of tax debt managed by the tax sector is estimated at nearly VND 160 trillion, an increase of 4.1% compared to the end of September 2023, and an increase of 7.9% compared to December 31, 2022 (according to Lao Dong).
- Ninh Binh proposes to stop operating nearly 50-year-old thermal power plant
Ninh Binh province proposed that Vietnam Electricity Group not continue to invest in upgrading Ninh Binh Thermal Power Plant and consider stopping operation to implement the general urban planning of Ninh Binh until 2030, with a vision to 2050 approved by the Prime Minister. According to Ninh Binh province's assessment, Ninh Binh Thermal Power Plant was built and put into operation the first unit since 1974 (in operation for 49 years) with old, outdated technology, small capacity, port operations and output lines affecting the landscape, architecture, and urban planning of Ninh Binh (according to Lao Dong).
- Ministry of Industry and Trade requires adequate storage of gasoline and oil, sufficient electricity supply for Lunar New Year
The Ministry of Industry and Trade has just issued a directive on implementing solutions to ensure supply-demand balance and market stabilization at the end of 2023 and the Lunar New Year of Giap Thin. Notably, in this document, the Minister of Industry and Trade requested businesses to have plans to reserve gasoline and oil to ensure adequate electricity supply at the end of this year and the Lunar New Year of Giap Thin 2024. (See more)
- State budget revenue in 10 months decreased by more than 9%
The Ministry of Finance said that the state budget revenue for the first 10 months is estimated at VND1,398.7 trillion, equal to 86.3% of the estimate, down 9.2% over the same period in 2022. Of which, domestic revenue is estimated at VND1,157.7 trillion, equal to 86.8% of the estimate, down 5.9% (over the same period in 2022) (according to VNA).
- Bank employee salary: Some places pay 45 million VND/month, some places only pay a fraction more
According to the financial reports of 27 commercial banks in the third quarter, nearly 10 banks reduced the average income (including salary and allowances) of employees compared to the same period last year as well as the average of the first 6 months of the year. Some banks have significantly improved the income for employees such as SHB, VietinBank, Techcombank, NCB, BVBank. Techcombank still leads in terms of "huge" benefits for employees, while ACB continues to be in the group of banks paying the "lowest" salaries. (See more)
The stock market on November 3 recorded the VN-Index increasing by 1.31 points to 1,176.78 points. Order matching liquidity on the HoSE floor improved to VND14,317 billion, partly because this was an ETF restructuring session.
The central exchange rate on November 3 decreased by 15 VND. The USD price at commercial banks decreased slightly today. The world USD price decreased sharply. The DXY index fell to 105 points.
Today's oil prices on the world market maintained the upward trend from the previous session. Brent crude oil price remained at 85 USD/barrel, while WTI crude oil price headed towards 82 USD/barrel.
Today's gold price on the world market is almost unchanged in the context of the Fed not adjusting interest rates, the US job market is worse than expected. As a result, the price of SJC gold bars decreased by 300,000 VND/tael in both directions.
Today's bank interest rates are the first time the market has gone through two consecutive working days without any bank adjusting deposit interest rates, since May 2023. This is a rare occurrence in recent times. It seems that deposit interest rates have hit rock bottom.
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