Buying electricity without going through EVN; warning about installing fire escape ladders outside mini apartments

Rooftop solar power is sold if not connected to the national grid

The Ministry of Industry and Trade has just reported to the Prime Minister to re-propose solutions for developing rooftop solar power sources, in which it expressed a new viewpoint of considering buying and selling electricity on the condition that both the source and the load are not connected to the national grid.

In this report, the Ministry of Industry and Trade said that the current electricity law does not have regulations on self-produced and self-consumed electricity sources. (See more)

Ministry of Industry and Trade reports on direct electricity trading without going through EVN

The Ministry of Industry and Trade has just sent the latest report to the Prime Minister on researching and developing a mechanism for direct electricity trading between renewable energy generators and large electricity users.

Regarding the case of buying and selling electricity through direct private connection lines, the Ministry of Industry and Trade said that there is a full legal basis for implementation. (See more)

Ministry of Construction warns about installing fire escape ladders outside mini apartments

After the fire at a mini apartment building in Khuong Ha (Thanh Xuan, Hanoi), many homeowners are rushing to install fire escape ladders outside the building.

According to a representative of the Ministry of Construction, the installation of fixed iron ladders protruding outside the building requires coordination with local authorities to ensure safety. The Ministry of Construction and the Ministry of Public Security will have guidelines to improve fire prevention and fighting capabilities for mini-apartments. (See more)

Proposed tax to reduce consumption of sugary drinks

On September 20-22, 2023, in Hai Phong, a workshop was held to provide information to the press on solutions to prevent non-communicable diseases in 2023.

At the workshop, experts said that taxing sugary drinks is necessary to regulate consumer behavior, thereby minimizing the harmful effects of these drinks. (See more)

Tighten gas business conditions to prevent illegal gas and reduce fires and explosions?

Despite the existence of a legal corridor, the gas market still has shortcomings such as the appropriation of cylinders, illegal LPG decanting; the trade in smuggled and fake gas is still rampant, causing a high risk of fire and explosion.

At the workshop “Suggestions for reforming the Decree on State management in the gas sector” on the afternoon of September 22, representatives of the “big guys” said that it is necessary to have more specific regulations on gas business conditions, to avoid unfair competition, to limit the situation of illegal gas sales and illegal decanting leading to a high risk of fire and explosion. (See more)

National Assembly Chairman: Salary policy reform can be applied from July 1, 2024

On the afternoon of September 19, in his closing speech at the Vietnam Socio-Economic Forum 2023, National Assembly Chairman Vuong Dinh Hue emphasized the need to fundamentally reform wage policies in 2024. This is also a boost for the labor market, contributing to stimulating domestic consumption.

“This is a reform, not a normal salary increase. If nothing changes, the time we can apply it is from July 1, 2024,” said the National Assembly Chairman.

Agribank boss becomes SCB Chairman

Mr. Vu Anh Duc resigned from the position of Chairman of the Board of Directors of SBC and was reassigned to take on an important position at VietinBank.

Mr. Phan Dinh Dien ceased to hold the position of Member of the Board of Members of Agribank to take over the position of Chairman of the Board of Directors of SCB from Mr. Vu Anh Duc from September 22. (See more)

Slow credit growth makes it difficult for coal businesses to borrow capital

On the afternoon of September 21, the State Bank of Vietnam (SBV) held a Conference on Connecting Banks and Enterprises in Hanoi. Governor Nguyen Thi Hong said that in 2022, credit increased by 14.78%. However, in the first 8 months of the year, capital mobilization increased by only 5.36% compared to the end of 2022.

Meanwhile, businesses have spoken out about the difficulties they face in the process of borrowing capital. Some businesses have complained that short-term loans from banks take 3 months to be approved.

Excess liquidity, State Bank absorbs nearly 20,000 billion VND

On the afternoon of September 21, the State Bank of Vietnam unexpectedly announced the issuance of VND9,995 billion worth of 28-day treasury bills after more than 6 months of suspension. In the trading session on September 22, the State Bank of Vietnam continued to withdraw VND10,000 billion from the system.

Experts say it is reasonable for the SBV to return to withdrawing money from the banking system, in order to reduce excess liquidity and cool down the recent exchange rate issue. (See more)

Transfers over 10 million will require biometric authentication

This is the information shared by Deputy Director of the State Bank's Payment Department Le Anh Dung at the workshop "Protecting bank accounts against the increasing risk of online fraud" held on September 19.

Mr. Dung informed that 90% of interbank money transfers are under 10 million, only 10% are over 10 million VND. Therefore, in the near future, there will be regulations requiring biometric authentication (by fingerprint, face) when transferring money between banks, possibly at 10 million VND. Thereby, it will also neutralize the practice of buying, selling, and renting bank accounts that has existed for a long time.

Concerns about increased money laundering using cryptocurrencies

On September 20, the Vietnam Banking Association and the Vietnam Blockchain Association held a conference on “Regulations on anti-money laundering and the role of anti-money laundering in cryptocurrency transactions”.

In Vietnam, due to the lack of specific legal framework, lack of procedures, and high-quality personnel in cryptocurrency and digital assets, although the Law on Anti-Money Laundering 2022 has taken effect since March 1, 2023, credit institutions and state agencies are still confused in handling acts related to this new type of asset.

Over 140 million bank cards in Vietnam, ATM withdrawals decrease sharply

Sharing at the press conference on Vietnam Card Day 2023 on the morning of September 20, Mr. Le Anh Dung - Deputy Director of the Payment Department, State Bank - said that as of July, the number of cards in circulation reached more than 140 million cards, of which nearly 10.8 million cards were opened using eKYC.

Meanwhile, cash withdrawal transactions via ATMs in the second quarter of 2023 tend to decrease by 13.5% in quantity and 17.8% in transaction value compared to the same period in 2022.

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