Looking for investors for SCB; 'big guy' increases foreign loans

- State Bank is looking for investors to restructure SCB

The State Bank of Vietnam (SBV) is looking for investors to participate in the restructuring of Saigon Commercial Joint Stock Bank (SCB) to submit to the Government for consideration and decision. This information has just been reported by the Government to the National Assembly on the handling of weak banks. In addition, the SBV has also submitted and received approval from competent authorities for the compulsory transfer policy for four specially controlled banks, including: Construction Bank (CBBank), Ocean Bank (OceanBank), Global Petroleum Bank (GP Bank) and DongA Bank (DongABank) (according to Tuoi Tre).

- Many large enterprises increase foreign loans

Foreign debt of enterprises and credit institutions in the form of self-borrowing and self-repayment increased from 23.4% of GDP in 2021 to 26.2% of GDP in 2023. According to the Government, although enterprises borrowed less in 2022, in 2023, enterprises continued to increase borrowing to supplement capital sources to restore production and business activities and implement many large projects (according to Thanh Nien).

- Google, Facebook, Apple... have paid more than 9,280 billion VND in taxes

According to the General Department of Taxation, after 18 months of operating the Electronic Information Portal, foreign suppliers, "big guys" who do not have a presence (permanent establishment) in Vietnam such as Google, Facebook, Apple... have registered, declared and paid taxes directly to the General Department of Taxation through the Portal with a tax amount of more than VND 9,280 billion. The number of foreign suppliers registering, declaring and paying taxes on this portal with the amount of tax paid continuously increasing. (See more)

- Open for tourists to drive back and forth between the two provinces bordering Mong Cai border gate

From October 30, Mong Cai city, Vietnam is expected to open a tourist route for Chinese tourists to drive themselves through Mong Cai border gate, to visit places, the deepest of which is Ha Long city. In the opposite direction, Dong Hung will create conditions for Vietnamese tourists to drive themselves deep into Nanning city, China (according to Ho Chi Minh City Law).

- Shrimp and fish exports accelerate to welcome the billion-dollar 'golden season'

w seafood export 1 986.jpg — In September, pangasius exports increased sharply (Photo: Pham Hoang Giam).

According to the Ministry of Agriculture and Rural Development, in September, Vietnam's seafood exports reached 858 million USD, down only 0.8% compared to the same period last year. Shrimp and tuna export turnover in September was equal to last year, tra fish increased sharply. Markets are recovering, Vietnamese shrimp and fish are starting to accelerate to welcome the "golden season" at the end of the year. (See more)

- Ca Mau proposes to add 41 wind and gas power projects to develop new sources

In a document sent to the Ministry of Industry and Trade, the Department of Industry and Trade of Ca Mau proposed to consider allowing Ca Mau province to develop additional sources with 41 new projects. According to this locality, the wind power development target according to Power Plan 8 until 2030 is up to 27,880 MW. However, with the current starting point of only more than 5,000 MW of wind power in operation, this will be a challenging number, requiring many solutions to achieve the target (according to Thanh Nien).

- Thousands of workers in Nghe An return to work

After a week of workers taking leave and going on strike in front of the factory in Dien Chau district (Nghe An), the company has 'given in' to adjusting food allowances and fuel subsidies. Thousands of workers have returned to work. (See more)

- Vingroup dissolves artificial intelligence company

Vingroup Corporation (VIC) of Mr. Pham Nhat Vuong has just announced information about the dissolution of a subsidiary operating in the field of artificial intelligence. Accordingly, Vingroup dissolved Vantix Technology Solutions and Services JSC with the aim of restructuring the operations of companies in the corporation. (See more)

- VietinBank seized the McLaren 765LT supercar that once belonged to a tycoon who played with mutated orchids.

VietinBank has just announced the seizure of a McLaren 765LT supercar as collateral, which was a mortgaged property of a customer. This car was said to be owned by a tycoon who played with mutated orchids in Ho Chi Minh City. Vietnam is said to have more than 5 of these supercars. At the time of its arrival in Vietnam, the selling price of the car was revealed by many sources to be over 35 billion VND. (See more)

- Tycoon La Quang Binh's assets were searched.

The People's Committee of Quang Nam province has just issued a document requesting relevant departments and units to review and inspect the implementation of transactions on assets with registered ownership information for a number of individuals and legal entities, including Mr. La Quang Binh - a businessman residing in Hanoi. Mr. Binh is the leader of many large enterprises and projects, including the scandalous Royal Marina Center - Swisstouches La Luna Resort project. (See more)

- Many supermarkets discount seafood up to 40%

To stimulate consumption, major supermarket chains across the country are launching a series of super promotional programs and attractive discounts. In addition to promotions of up to 40%, many items are also sold at attractive prices, lasting until October 20 (according to VTV).

On the stock market , in the session of October 9, the VN-Index increased by 8.82 points, to 1,137.36 points. Stocks in industries closely related to oil prices such as oil and gas, fertilizers and chemicals increased sharply in the context of soaring oil prices due to the escalation of the war in Israel.

The USD price in banks today decreased slightly. The central exchange rate decreased by 5 VND compared to the previous session. The world USD price increased slightly. The USD price in the free market increased sharply, exceeding the VND/USD exchange rate at commercial banks.

The price of gold today on the world market increased sharply, causing the price of gold in the country to increase. The price of gold bars in the country is the highest in the past 6 months, reaching the mark of 70 million VND/tael.

Oil prices on the world market today increased sharply after a week of decline. Brent oil price reached 87 USD/barrel, WTI oil price was at 86 USD/barrel.

Today's bank interest rates show that BaoVietBank, Techcombank and SeABank have reduced their deposit rates. In particular, some terms from 6-9 months have been reduced to below 5%/year by banks.

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