Vietnamese income growth rate surpasses Thailand and Philippines

According to World Bank data, in 2023, Vietnam's gross domestic product (GDP) will reach nearly 430 billion USD and per capita income will reach nearly 4,347 USD/person. The growth rate of per capita income in Vietnam is very fast, exceeding the rate in many countries in the region, including Thailand, the Philippines...

With a growth rate of 6-8% for many years, Vietnam is considered to have entered the top group of upper-middle-income countries like Malaysia, Thailand and Indonesia. However, according to the latest classification applied for 2023-2024, Vietnam has not yet entered the group of upper-middle-income countries. (See details)

Customer transfers money, money is stopped, bank sends shocking message

MB is the first bank to deploy a feature to identify fraudulent account information.

This allows customers to feel secure when making transactions with strangers or suspicious accounts, protecting the safety of their accounts and assets.

Some large banks with a "huge" number of customers - strong investment capital in technology - such as Big4, Techcombank, VPBank,... have not yet implemented. However, some banks have made a list of suspicious accounts used as a means of fraud and cheating. (See details)

Cong Minh Green Tree Company: Winning the bid, 'extending tentacles' to hunt for projects

The Investigation Security Agency has initiated a case of Violating bidding regulations causing serious consequences, Giving and receiving bribes occurring at Cong Minh Greenery Company Limited (Cong Minh Company) and related localities.

The review results show that there are about 50 companies in the Cong Minh Company ecosystem participating in bidding for over 600 packages in many localities, winning many packages in all provinces and cities. (See details)

Using Stabilization Fund money for bribery, petroleum enterprises owe nearly 1,740 billion in taxes

The Ho Chi Minh City Tax Department has just announced the list of tax-debt enterprises for the May 2024 period. This time, there are 229 tax-debt enterprises, with a total amount of nearly 5,000 billion VND.

Xuyen Viet Oil Trading, Transport and Tourism Company Limited topped the list of tax-debt enterprises named with a total debt of nearly VND 1,740 billion. The director of this enterprise used money from the Petroleum Price Stabilization Fund to bribe. (See details)

Vietnam has more than 19,000 USD millionaires, the fastest growing in the world

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Vietnam has the fastest growth rate in the number of USD millionaires in the world in the period 2013-2023. Source: NWW

Vietnam has 19,400 USD millionaires by the end of 2023. Vietnam's USD millionaire growth rate is the fastest in the world in the period 2013-2023. The number of millionaires in Vietnam is forecast to double in the next decade.

The above data is updated in a report by New World Wealth Company (South Africa) and investment migration consultancy Henley & Partners (Switzerland). (See details)

Proposal for self-produced and self-consumed rooftop solar power sold to EVN at a price of 671 VND/kWh

The Ministry of Industry and Trade has just sent a report to Deputy Prime Minister Tran Hong Ha on the implementation of the direction in Official Dispatch 4844 with the Draft Decree on self-produced and self-consumed rooftop solar power.

The Ministry of Industry and Trade proposed a plan for self-produced and self-consumed rooftop solar power sold to Vietnam Electricity Group (EVN) at a price of 671 VND/kWh. (See details)

Exit for 154 solar power projects with violations that have been resolved

The Ministry of Industry and Trade has reviewed and recommended that the Prime Minister assign the Government Inspectorate to preside over and coordinate with relevant units to urgently remove difficulties and obstacles related to 154 concentrated solar power projects subject to inspection and investigation with inspection conclusions, so that localities and investors can soon implement projects in accordance with the power source structure in the Power Plan VIII.

The Government Inspectorate confirmed that projects that have been concluded for inspection are no longer subject to inspection or investigation. (See details)

Ministry of Industry and Trade maintains proposal for businesses to decide on gasoline prices

The Ministry of Industry and Trade has just sent the Ministry of Justice the dossier for appraisal of the draft decree on petroleum business for the third time.

In particular, the Ministry of Industry and Trade maintains the same viewpoint as in the draft in April. The State will not regulate domestic fuel retail prices, but enterprises (gasoline distributors and traders) will calculate and decide retail prices themselves based on factors announced by the State.

According to the Ministry of Industry and Trade, this change comes from the fact that the current price management mechanism does not ensure market mechanism, and has to go through too many steps. (See details)

Foreign investment capital in 6 months is nearly 15.2 billion USD

According to data from the Ministry of Planning and Investment, in the first 6 months of the year, total registered foreign direct investment reached nearly 15.2 billion USD, up 13.1% over the same period in 2023.

In particular, many large projects in the fields of semiconductors, energy (production of batteries, photovoltaic cells, silicon bars), manufacturing of components, electronic products, and products with high added value have received new investments and capital expansion. (See details)

Rice exports to Indonesia may face bad situation

The Vietnam Trade Office in Indonesia said that the Indonesian National Food Agency has just updated the country's rice import demand, forecast to increase to 5.18 million tons in 2024 instead of the 3.6 million tons the Government previously granted import licenses.

However, the situation of exporting Vietnamese rice to the Indonesian market is likely to be unfavorable as the National Logistics Agency (Bulog) and the National Food Agency of Indonesia have been sued by the civil organization People's Democracy Study (SDR) to the National Anti-Corruption Commission (KPU). (See details)

Banks lend 480,000 billion VND in just 1 month

According to data from the State Bank, credit growth in the entire economy by the end of June 2024 reached about 6% compared to the beginning of the year, reaching nearly 14.4 million billion VND.

In June alone, the economy absorbed VND480,000 billion, higher than the total amount of money absorbed in the first 5 months of the year. (See details)