Proposal to remove 30% interest rate ceiling; increase bond issuance

- Proposal to remove the 30% ceiling on loan interest calculated into domestic enterprises' expenses

The Ho Chi Minh City Real Estate Association (HoREA) has just sent a petition to the Prime Minister and the Ministry of Finance to consider amending and supplementing a number of provisions of Decree No. 132/2020/ND-CP dated November 5, 2020 on "regulations on tax management for enterprises with related-party transactions". HoREA proposed to amend Decree 132 in the direction of removing the 30% ceiling because it believes that this is unreasonable and has made the picture of investment, production and business activities of enterprises not be reflected honestly and promptly. (See more)

- Banks issue new batches of bonds worth thousands of billions, interest rates higher than savings interest rates

With bond interest rates 1-2%/year higher than the listed 12-month savings interest rates, banks are increasing bond issuance at the end of the year. Bond investment is a suitable investment channel for many customers, especially when savings interest rates are gradually decreasing. (See more)

- Ministry of Finance refuses to take responsibility for electricity price management

The Ministry of Finance emphasized its viewpoint of only coordinating the appraisal of retail electricity prices in case of unusual price fluctuations, while the main responsibility for electricity price management lies with the Ministry of Industry and Trade - the specialized management agency for electricity products and electricity prices. This viewpoint was stated by the leaders of the Ministry of Finance when giving opinions on the Draft replacing Decision 24/2017 on the mechanism for adjusting average retail electricity prices. (See more)

- State Bank and Ministry of Construction meet with banks with outstanding real estate loans from 20,000 billion VND

A major conference on credit for the real estate market will take place early next week, organized by the State Bank and the Ministry of Construction, with the participation of general directors of banks with outstanding real estate loans of VND20,000 billion or more. Representatives of the Vietnam Real Estate Association and leaders of several large real estate corporations have also been invited to attend the conference. (See more)

- Fearing fake 'national treasures' flooding the market, Quang Nam takes urgent action

Faced with the situation of many Ngoc Linh ginseng roots being sold at surprisingly cheap prices, the People's Committee of Quang Nam province requested relevant departments, agencies and localities to strengthen the management of Ngoc Linh ginseng quality in the area. In the immediate future, it is necessary to focus on preventing the advertising and sale of fake Ngoc Linh ginseng products on social networks and strengthening the inspection of the origin of Ngoc Linh ginseng roots; requesting the handling of production and business establishments using the domain name "samngoclinh" to advertise ginseng roots and other ginseng products associated with the Ngoc Linh ginseng brand in accordance with intellectual property regulations. (See more)

w image sam nl 1 1 457.jpeg — Ngoc Linh ginseng is currently mainly assessed through experience.

- Bank sells series of hotels and villas in Hoi An

VietinBank Hoi An has just announced the auction of a series of assets including hotels and resort villas in Hoi An city, Quang Nam province, including Le Pavillon Hoi An hotel. Le Pavillon Hoi An Central Luxury Hotel & Spa has 6 floors, with a total construction area of 3,841m2. (See more)

- Shares of 5-star hotel owners in Sa Pa and Nha Trang may be delisted

The Hanoi Stock Exchange has just announced that CTX shares of Vietnam Construction Investment and Trading Joint Stock Corporation (CTX Holdings) are likely to be delisted due to "the listing organization's serious violation of information disclosure obligations" and "the shares have not been traded on the Stock Exchange within 12 months". The company's website states that it is the investor of several projects such as PentStudio Tay Ho Serviced Apartments (Hanoi), 5-star Pao's Sapa Leisure Hotel (Lao Cai), Champa Legend Nha Trang Hotel, CTX Complex A1 (Hanoi), 368 Trung Kinh luxury apartment building (Hanoi), and Quang Nam marine ecological area (according to Dan Tri).

- GELEX invests in cooperation with Singapore's leading corporation

Speaking to VietNamNet, a GELEX representative confirmed that GELEX has agreed to cooperate in investment with Sembcorp - a leading provider of integrated energy and urban solutions based in Singapore. GELEX's portfolio of operating energy projects includes wind power, solar power and hydropower projects with a total capacity of about 245MW. (See more)

- Bamboo Capital leaders successfully "closed profits" on 3 million shares

Mr. Pham Minh Tuan, Vice Chairman of the Board of Directors and Deputy General Director of Bamboo Capital Group Corporation, successfully sold 3 million BCG shares on November 7 and 8. Mr. Tuan's purpose of selling shares was to arrange personal finances. After this transaction, Mr. Tuan only holds 3.1 million BCG shares, accounting for 0.59% of charter capital (according to Nguoi Lao Dong).

- Manipulating real estate stocks, an individual was fined 1.5 billion VND

From January 4, 2022 to June 17, 2022, Mr. Nguyen Huu Duc (Da Nang) used his own securities account and 75 accounts of 21 investors to continuously buy, sell, and trade shares of First Real Estate JSC (FIR) to create fake supply and demand, manipulating stock prices. Mr. Duc was administratively fined 1.5 billion VND and banned from trading securities for a period of 2 years, starting from November 8, 2023. (See more)

- China buys red-fleshed jackfruit at sky-high prices

Not only Thai jackfruit, these days, China also buys red-fleshed jackfruit from Vietnam at sky-high prices. Some gardeners in Can Tho are selling grade 1 red-fleshed jackfruit for 85,000-105,000 VND/kg, grade 2 for 75,000-85,000 VND/kg, and grade 3 for 30,000-35,000 VND/kg. (See more)

Gold prices today, November 11, on the world market continued to decrease. Gold prices are likely to remain within the range of below 2,000 USD/ounce during this time.

Oil prices on the world market today increased due to increased demand and signs of tightening supply. Brent crude oil prices rose to 81 USD/barrel and WTI crude oil prices were at 77 USD/barrel.

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