Completing direct electricity trading, completing billion-dollar deal

- The Government 'urges' the Ministry of Industry and Trade to soon complete the direct electricity purchase and sale mechanism.

The Government Office has just announced the conclusion of Deputy Prime Minister Tran Hong Ha at the meeting on the direct electricity trading mechanism between renewable energy power generation units and large electricity users. According to the Deputy Prime Minister, the issuance of mechanisms and policies on direct electricity trading is very important and urgent to effectively implement investment in power source development and ensure national energy security. However, up to now, these mechanisms and policies have been slow to be issued and have not met requirements. The Deputy Prime Minister requested the Minister of Industry and Trade to direct relevant units to seriously learn from experience, make efforts to speed up progress, and soon complete the task (according to Tuoi Tre).

- Deputy Governor: 'Accept exchange rate fluctuations, if it is rigid, it is not a market'

Deputy Governor Dao Minh Tu said that some opinions commented that the exchange rate was fluctuating, but the market had to accept the fluctuations, if it was left to stagnate, it would no longer be a market economy. The above message was shared by Mr. Tu at the Conference "Connecting Banks - Enterprises in the Central Highlands" organized by the State Bank on the afternoon of October 20 in Dak Lak. (See more)

- Ministry of Industry and Trade explains the removal of Xuyen Viet Oil from the inspection list

The Domestic Market Department and the Inspectorate of the Ministry of Industry and Trade have just provided information on the situation of law enforcement inspections in the petroleum sector, explaining the removal of Xuyen Viet Oil from the inspection plan for 2021. The Ministry of Industry and Trade believes that the issuance of the decision to adjust the inspection plan for 2021, including the removal of Xuyen Viet Oil from the list, is completely objective and consistent with the actual situation. (See more)

- VPBank completes private share issuance to Japanese investors

Vietnam Prosperity Bank (VPBank) today announced that it has completed the private placement of 15% of its shares to Sumitomo Mitsui Banking Corporation (SMBC), officially making Japan's second largest bank a strategic shareholder accompanying VPBank on its upcoming development journey. The total value of the offering is over VND35,900 billion, equivalent to nearly USD1.5 billion. (according to Nhip Song Thi Truong).

- China spends 8.7 billion USD to buy Vietnamese agricultural products

Spending 8.7 billion USD to buy, China is the largest customer of Vietnamese agricultural products in the first 9 months of 2023. In the last months of the year, agricultural exports to this market are forecast to continue to boom. (See more)

fruit export 1 1270.jpg — Fruit and vegetable exports to China are forecast to continue to boom in the final months of the year. (Photo: Thach Thao)

- Bank sells luxury Maybach car with 'beautiful license plate'

Vietcombank is selling a luxury Maybach GLS 600 with license plate 988.89. Agribank also announced the auction of a BMW X5. These are collateral assets that the bank is selling to settle debts. (See more)

- Jackfruit price increased by 15-20 thousand VND/kg

Currently, jackfruit prices are showing signs of increasing after a period of plummeting prices. The Thai jackfruit market is more active than before. In Dong Thap, traders buy grade 1 Thai jackfruit at the garden for 30,000 VND/kg; grade 2 jackfruit is over 20,000 VND/kg. This price has increased by about 15-20,000 VND/kg compared to last month (according to Tin Tuc Newspaper).

- Fresh flowers and fruits are in high demand on October 20

On October 20, fresh flower shops on the streets of Hanoi became bustling with a variety of brilliant flowers. The shops displayed many models of flower baskets, bouquets, and boxes of all kinds, with common prices ranging from 300,000-500,000 VND/bouquet, and more high-end ones costing 1-2 million VND/basket depending on the type. Fresh flower products are designed in a variety of ways, including bouquets, flower baskets, flower boxes, flower vases, and flower baskets, with prices depending on the types of flowers used, whether domestic or imported (according to VNA).

Oil prices on the world market today increased sharply. Brent oil price exceeded 93 USD/barrel, while WTI oil price reached 90 USD/barrel.

On the stock market , in the session of October 20, VN-Index increased by 20.18 points, regaining the 1,100 point mark after losing this mark in the previous session, however, liquidity has not improved. Securities stocks recovered the most.

The central exchange rate on October 20 was 24,110 VND/USD, up 10 VND compared to yesterday. The USD price at commercial banks decreased slightly. The international USD price recovered.

The domestic gold ring price today increased sharply, reaching 59 million VND/tael, reaching a historical peak. The price of SJC gold bars also increased sharply, at times surpassing 71 million VND/tael. The world gold price increased sharply after the report on the US labor market was released.

Today's bank interest rates saw the giant Vietcombank sharply reduce its deposit interest rates. Accordingly, the 1-2 month term decreased by another 0.2 percentage points, to only 2.8%/year. This is the only deposit term below 3%/year.

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