Unblocking social housing; authenticating stock traders

- Proposal to remove many criteria that 'puzzle' social housing buyers

The Ministry of Construction has just proposed to remove the residency requirements and raise the income requirements for social housing buyers. Accordingly, many people will easily complete the application and register to buy this type of housing (according to Tien Phong).

- Request for verification of information of securities transaction participants

On September 23, the Government Office conveyed the direction of Deputy Prime Minister Tran Luu Quang requesting ministries, branches and localities to urgently review and implement tasks that are behind schedule according to the assessment of the Ministry of Public Security, and to be responsible to the Prime Minister for tasks that do not ensure the implementation roadmap of Project 06. In particular, the Deputy Prime Minister requested to quickly verify personal information of securities trading participants and report to the Prime Minister the implementation results before November 30 (according to Thanh Nien).

- Warning about a series of illegal stock exchange and virtual currency applications

The State Securities Commission (SSC) has just announced recommendations for investors when participating in cryptocurrency transactions on applications and stock exchanges that are not licensed by the SSC. Some of the units named by the authorities include: Gate.io, GoldFinger Finance, Vietdiamondstocks, bawallet9.com, Londonex.com, ZenoMarkets.com, CHMarkets.com, JASS.com, DEXDN.com, LPL.com, TradeTime.com, ... The SSC affirmed that the Vietnamese legal system does not have legal documents regulating forms of digital assets and cryptocurrencies (according to Dan Tri).

- One more renewable energy project forwards to sending documents for electricity price negotiation

Vietnam Electricity Group (EVN) said that one more investor in a transitional renewable energy project has just submitted a dossier for negotiating (provisional) electricity purchase and sale prices. According to EVN statistics, as of September 23, 81/85 transitional renewable energy projects with a total capacity of 4,597.86 MW have submitted dossiers to the Electricity Trading Company to negotiate electricity prices and electricity purchase and sale contracts; 68 projects proposed a provisional price equal to 50% of the ceiling price of the price frame according to Decision No. 21/QD-BCT dated January 7, 2023 of the Ministry of Industry and Trade (according to Industry and Trade Newspaper).

- Project of 100 resort villas 'devours' 12 hectares of forest in Nui Chua National Park

The Ministry of Natural Resources and Environment is consulting the community on the environmental impact assessment report of the Vinh Hy Luxury Resort project in Ninh Thuan province, invested by Syrena Vietnam Company. This project is expected to be invested and built on land under the management of Nui Chua National Park, Vinh Hai commune, Ninh Hai district. To build 100 resort villas, the investor of Vinh Hy Luxury Resort will exploit 12 hectares of forest, including more than 10 hectares of natural forest. (See more)

A corner of Nui Chua National Park. (Photo: Huynh Van Truyen)

- With huge profits, the big port company was charged over 3.5 billion VND in back taxes

Gemadept Joint Stock Company (stock code: GMD) has received a decision from the Ho Chi Minh City Tax Department on administrative penalties for tax violations during the inspection period from 2017 to 2022. The tax authority will collect corporate income tax of more than VND 1.5 billion, late payment of corporate income tax of VND 674.4 million and administrative fines of more than VND 1.3 billion against Gemadept. The total amount that Gemadept must pay is more than VND 3.5 billion. Gemadept's business activities are growing strongly with profits of thousands of billions of VND. (See more)

- Mr. Pham Nhat Vuong's two private companies sold more than 46 million VinFast shares.

Vietnam Investment Group Joint Stock Company and Asian Star Trading & Investment (Asian Star) will sell 46.29 million VinFast shares to raise about 750 million USD. This amount will be transferred to VinFast according to Mr. Pham Nhat Vuong's commitment to the previously signed sponsorship agreement (according to Tien Phong).

- Exchange rate increases, electronic goods are also about to increase in price

Although the consumption of electronics and refrigeration products is decreasing sharply and inventories are large, some items have not decreased in price much, and even tend to increase due to the increase in exchange rates. The director of a business specializing in distributing electronics and refrigeration products in Ho Chi Minh City confirmed that since the beginning of September 2023, the prices of televisions, washing machines, and refrigerators have increased by VND 200,000-300,000/product. Air conditioners alone have not increased in price due to the large inventory (according to Nguoi Lao Dong).

- Retail real estate rental prices in Hanoi and Ho Chi Minh City are competitive in the region

The two major commercial real estate markets of Hanoi and Ho Chi Minh City remain attractive to investors despite the difficult real estate market. According to experts from Savills Vietnam, office rental prices in Hanoi and Ho Chi Minh City are at a good level, with a complete competitive advantage in the Asian region (according to Tien Phong).

Gold prices on the world market increased slightly today, ending a volatile week after the Fed's important decision to stop raising interest rates.

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