Ministry of Industry and Trade explains why electricity prices 'bear' EVN's losses
Referring to the loss of more than VND 26 trillion of Vietnam Electricity Group (EVN) in 2022, the Electricity Regulatory Authority said: Although fuel prices in 2023 have been less stressful than in 2022, they are still high compared to the period before 2022, greatly affecting EVN's financial balance.
In fact, in 2022 and 2023, the loss in electricity production and business activities is due to the fact that the revenue from electricity production and business activities is not enough to cover the costs incurred to serve electricity production and business activities (ie the retail price of electricity is not enough to cover the cost of electricity production and business). (See more)
The price for renewable energy transition is criticized as low, what does the Ministry of Industry and Trade say?
The Ministry of Industry and Trade has just sent a report to Prime Minister Pham Minh Chinh and Deputy Prime Minister Tran Hong Ha on the implementation of the Deputy Prime Minister's conclusion on the issue of negotiating electricity prices for transitional solar and wind power projects.
The Ministry of Industry and Trade said it will continue to coordinate to review the contents of the price framework for transitional renewable energy projects and promptly edit and supplement if any problems or inadequacies are discovered. (See more)
EVN proposes not to increase coal prices for electricity production
After the Vietnam National Coal and Mineral Industries Group (TKV) wanted to adjust the selling price of domestic coal for electricity production, EVN immediately responded in writing.
EVN requested TKV to consider not adjusting the price of domestic coal sold for electricity production, and the price of domestic coal in the plan of blending with imported coal. EVN also wants TKV to fully and continuously supply coal to thermal power plants to ensure production and electricity supply for 2023. (See more)
Ministry of Finance rejects proposal for $1,000 subsidy when buying electric cars
In the draft Report proposing policies to support the transition to electric and green energy cars, the Ministry of Transport (MOT) proposed supporting 1,000 USD for electric car buyers.
Commenting on the draft, the Ministry of Finance proposed that the Ministry of Transport remove this proposal. The Ministry of Finance acknowledged that subsidy and financial support policies have been applied in a number of countries, but these policies are not suitable for the context and conditions of our country, and can easily cause mixed reactions from public opinion.
40 times increase in fees for new registration and license plates for pickup trucks
According to Circular 60/2023/TT-BTC just issued by the Ministry of Finance, from October 22, there will be many changes in the fees for issuing new registration papers and license plates for cars.
Accordingly, the fee for reissuing a registration certificate with a license plate for a pick-up truck in Region I (Hanoi and Ho Chi Minh City) will be 20 million VND, a 40-fold increase compared to before (previously, the fee was only 500,000 VND/time in Region I). (See more)
Securities companies must immediately stop placing automatic orders.
The State Securities Commission has just sent a document to securities companies requesting them to immediately stop using the automatic order placement method.
According to VNA, the State Securities Commission has found that there is a phenomenon of using robot technology to place automatic online stock trading orders with very high frequency.
This activity has many potential risks and affects the stability of the stock market. In addition, it also causes the risk of chain breakdown when the stock market develops badly, thereby negatively affecting the risk management of securities companies.
Prime Minister requests to step up handling of weak banks
On September 9, at the regular Government meeting in August 2023. The Prime Minister requested the State Bank of Vietnam (SBV) to focus on removing credit bottlenecks; urgently review and complete regulations, conditions, and lending procedures, ensuring increased access to credit for people and businesses in priority areas.
In particular, the Prime Minister assigned the State Bank to step up the handling of weak banks, compulsory purchases according to the policy approved by competent authorities, and report to the Government and the Prime Minister in September 2023.
Ministry of Finance worries that Vietlott winners will not be paid because they bought online
The Ministry of Finance has just responded to the opinion that state management agencies "cannot manage, then prohibit" the buying and selling of lottery tickets online and buying lottery tickets on behalf of others.
"In the case of buying a Vietlott ticket on behalf of someone who wins a big Jackpot prize, there is a possibility that the ticket will not be returned to the winner because the website/application disappears while taking a photo of the confirmed ticket is not proof of ownership, affecting Vietlott's reputation," the Ministry of Finance warned. (See more)
Deputy Governor: Banks are having to 'treat excess money'
At a conference on September 7 discussing solutions to improve the efficiency of businesses' access to credit and increase the economy's ability to absorb capital, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that the entire banking system is having to "treat the disease of excess money". Just like businesses with inventory, commercial banks are also having inventory of money.
According to Mr. Tu, although the State Bank and the entire credit system continuously organize conferences to promote the connection between banks and businesses nationwide, to listen to opinions, review and perfect legal institutions in credit granting activities; implement administrative procedure reforms, remove difficulties, increase access to credit in the real estate sector, etc., providing credit to the economy is still difficult, because businesses cannot absorb capital and do not want to borrow. (See more)
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