Building a trillion-dollar power line to buy electricity from Laos, gas prices continue to increase

- Saved 500,000 billion VND to reform salary

The whole country saved 500,000 billion VND to prepare for salary reform in 2024, 2025 and 2026 according to Resolution 27 of the 12th Central Committee. The Prime Minister assigned the Ministry of Home Affairs to prepare a salary reform plan when approved by the Central Committee.

- 3 economic growth scenarios

Reporting at the regular Government meeting in September 2023 and the Government's online conference with localities (morning of September 30), Minister of Planning and Investment Nguyen Chi Dung updated the growth scenario for the fourth quarter and the whole year of 2023 based on the results of the first 9 months, forecasting the context and situation in the world and in the country in the coming time. The Ministry of Planning and Investment proposed three growth scenarios for this year at 5-6%. To achieve this target, growth in the fourth quarter must reach 7-10.6%. (See more)

Minister of Planning and Investment Nguyen Chi Dung. (Photo: VGP)

- Prime Minister: Strive for GDP growth of 6% for the whole year

Prime Minister Pham Minh Chinh requested to select a scenario of GDP growth of around 6% for the whole year to continue striving for the highest possible results. This viewpoint was stated by Prime Minister Pham Minh Chinh when concluding the regular Government meeting on September 30.

- Deputy Prime Minister reminded the Capital Management Committee not to let capital flow harden or freeze.

The Capital Management Committee currently manages capital of about VND2,450,000 billion. However, Deputy Prime Minister Tran Hong Ha said that some of it has not been converted into capital because it is frozen and hardened. (See more)

- Started construction of 500kV line worth over 1,100 billion VND to import electricity from Laos

The 500kV Monsoon - Thanh My transmission line project (section in Vietnam) was launched by Vietnam Electricity Group (EVN) on September 30. The total investment of the project is over 1,100 billion VND, with the project construction investment capital arranged from credit loans from Agribank and counterpart capital from EVN (according to Tuoi Tre).

- Transfers over 500 million VND must be reported

According to Circular No. 09/2023/TT-NHNN guiding a number of articles of the Law on Anti-Money Laundering, from December 1, 2023, for domestic transactions, service providers must report each electronic money transfer transaction with a value of VND 500 million or more or equivalent in foreign currency. Accordingly, the amount of large cash transactions that must be reported is VND 400 million. For electronic transactions, the amount that must be reported is VND 500 million. As for international electronic money transfers, the value of USD 1,000 or more or equivalent in other foreign currencies must also be reported to the State Bank (according to VTC News).

- Postpone the date of adjusting gasoline prices

The gasoline price adjustment date on October 1 will be postponed because it falls on Sunday. Mr. Phan Van Chinh, Director of the Domestic Market Department - Ministry of Industry and Trade, said that the Ministry of Industry and Trade - Ministry of Finance will adjust the retail gasoline price on the first working day of the new week, which is Monday (October 2), instead of October 1 as usual (according to VTC News).

- Sky-high airfares, tourism businesses 'call for help'

More than 3 months until Lunar New Year 2024, but the demand for family reunions and travel has increased, causing Tet flight ticket prices on some routes to skyrocket. Tet flight tickets are both expensive and scarce. Not only are workers worried, but tourists are also complaining, and destinations and travel companies are soon facing the fear of losing revenue during the peak season at the end of the year, continuing to 'cry for help'. (See more)

- Insurance giant returns trillions to customers who cancel contracts

Manulife Vietnam Company Limited (Manulife) has just announced its separate interim financial report for the first 6 months of 2023. Accordingly, net revenue from insurance business activities decreased by 13% compared to the same period last year, reaching VND 11,090 billion. The main reason for the decline in profit was that Manulife's total compensation and insurance payments in the first 6 months of the year skyrocketed to more than VND 8,800 billion, equivalent to an increase of 45% over the same period. (See more)

- VinFast shares continue to increase, capitalization reaches 30 billion USD

VinFast shares overcame selling pressure and increased for the second consecutive session. VinFast Auto's capitalization stood at over 30 billion USD. Billionaire Pham Nhat Vuong's car company has an advantage in charging systems in Vietnam but is facing no small competitive pressure even in the domestic market. (See more)

- Pig price continues to decrease, losing the 57,000 VND/kg mark

Pig prices today decreased slightly. Currently, pig prices in provinces and cities fluctuate around 52,000-56,000 VND/kg (according to Lao Dong).

- Gas prices increased for the third consecutive time

Starting tomorrow (October 1), retail gas prices will continue to increase by VND20,000 per 12 kg cylinder. This is the third consecutive month that gas prices have increased in the adjustment period at the beginning of each month after setting the bottom price in June. The reason for the increase in gas prices is that world gas prices increased in October, so companies adjusted their retail prices accordingly (according to Nguoi Lao Dong).

Oil prices on the world market today, September 30, are trending downward. Brent oil prices are at 95 USD/barrel. WTI oil prices are at 90 USD/barrel. Analysts say that oil prices are adjusting down because investors are taking profits.

Gold prices today, September 30, on the world market decreased slightly. Many experts predict that gold prices may fall to 1,800 USD/ounce. SJC gold bars also decreased by 50,000 VND/tael.

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