- Request banks to "find ways" to further reduce interest rates for new loans and old debts
On October 27, the State Bank of Vietnam (SBV) held a conference to implement the Prime Minister's Official Dispatch No. 990 on solutions to increase access to credit capital for production and business activities, as well as promote the implementation of the interest rate support program under Decree 31 of the Government. To increase access to credit capital for people and businesses, the SBV requested credit institutions to reduce costs in order to continue to reduce lending interest rates for both new loans and existing loans (according to Dan Tri).
- Government 'urges' to complete regulations on petroleum business
The Government Office has just issued a notice of Deputy Prime Minister Le Minh Khai's conclusion on the draft Decree amending and supplementing Decree 95 and Decree 83 on petroleum trading. Deputy Prime Minister Le Minh Khai directed to unify the contents related to price formula, price management, calculation of normative items in base price, management, use and supervision of the Price Stabilization Fund and assignment of tasks to relevant ministries and agencies. The Deputy Prime Minister requested the Ministry of Industry and Trade to urgently complete the submission for the Government's opinion before 3:00 p.m. on October 26. (See more)
- VCCI proposes to reduce VAT for all goods and services
The Vietnam Federation of Commerce and Industry (VCCI) has just sent a document to the Ministry of Finance to respond to the proposal to reduce value-added tax (VAT) for the first 6 months of 2024. VCCI recommends that the Ministry of Finance consider reducing value-added tax (VAT) for all goods and services from 10% to 8%. (See more)
- Foreign investment capital in Vietnam exceeds 25 billion USD mark
Data from the Foreign Investment Agency (Ministry of Planning and Investment) shows that as of October 20, 2023, newly registered, adjusted, and contributed capital, equity, and capital contribution FDI reached more than 25.76 billion USD, up 14.7% over the same period; disbursement is estimated at about 18 billion USD. According to the Foreign Investment Agency's assessment, although adjusted investment capital is still decreasing, the number of projects with adjusted capital has maintained an increase compared to the same period. This affirms investors' confidence in Vietnam's investment environment and continues to make decisions to expand existing projects. (See more)
- Vietnam invested nearly 424.34 million USD abroad in 10 months
According to the Foreign Investment Agency, Ministry of Planning and Investment, in the first 10 months of 2023, Vietnam's total newly granted and adjusted foreign investment capital reached nearly 424.34 million USD (equal to 93.9% compared to the same period). Of which, 95 projects were granted new investment registration certificates, with a total registered capital of more than 251.15 million USD (equal to 64.4% compared to the same period) (according to VOV).
- The amount of cash in circulation has decreased sharply.
With a proportion of 8.71% of total means of payment, the amount of cash in circulation in the economy at the end of August reached over VND 1,289 trillion, down nearly VND 63,800 billion compared to the end of 2022 (equivalent to 4.7%) and down more than VND 115,800 billion compared to the level recorded in the same period of 2022 (equivalent to 8.2%). Cash in circulation has decreased sharply in the context of continuous strong growth of electronic payments in recent years (according to Nhip Song Thi Truong).
- Dozens of projects want to sell electricity directly, without going through EVN
The Ministry of Industry and Trade has just reported to the Prime Minister, Deputy Prime Minister Tran Hong Ha on the study and development of a mechanism for direct electricity trading between renewable energy power generation units (DPPA). The Ministry of Industry and Trade said that when surveying 95 renewable energy projects, 24 projects wanted to trade electricity directly, without going through EVN; 17 other investors are considering the possibility of finding and signing contracts directly with customers. (See more)
- Mr. Tran Dinh Long and his wife want to transfer 40 million Hoa Phat shares to their son.
Today, Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group Joint Stock Company, registered to sell more than 16.3 million HPG shares by negotiation to his son Tran Vu Minh in November. On the same day, Ms. Vu Thi Hien - wife of Hoa Phat Chairman - also registered to sell more than 26.5 million HPG shares by agreement to her son. The total volume of shares that Hoa Phat Chairman and his wife are expected to transfer to their son is about 42.8 million units. Based on today's closing price, these two transactions are worth nearly 1,000 billion VND (according to VnExpress).
The stock market session on October 27 recorded the VN-Index increasing by 5.17 points, to 1,060.62 points.
The influx of "bottom-fishing" money has improved the order-matching liquidity on the HoSE compared to some previous sessions of under VND10,000 billion, specifically reaching VND12,379 billion. Banking stocks are the "savior" of the VN-Index. The real estate group is extremely differentiated.
The central exchange rate on October 27 increased by 12 VND. The USD price at commercial banks today fluctuated little. The world USD price stagnated.
Gasoline prices on the world market today turned up after falling more than 2 USD the day before, to the lowest level in two weeks.
Gold prices today on the world market increased again when the US economic data was better. Domestic gold prices increased slightly. SJC gold price aimed for the peak of 71 million VND/tael.
Today's bank interest rates recorded by Vietnam Construction Commercial Joint Stock Bank (CBBank) decreased, with terms from 6-11 months to below 6%/year. Thus, there are only 2 banks mobilizing interest rates from 6% or higher for terms under 12 months.
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