Some notable news: Proposal to review and report to prepare proposal to adjust regional minimum wage; State Treasury buys large amount of USD amid 'tight' exchange rate; Reasons why foreign investors withdraw money from Vietnamese stocks...
Workers at a steel factory in Thai Nguyen province - Photo: HA QUAN
Propose to review and report to prepare proposal to adjust regional minimum wage
The Ministry of Labor, War Invalids and Social Affairs has just sent an official dispatch to the Chairmen of the People's Committees of provinces and cities to review the areas where the minimum wage is applied.
Specifically, the Chairmen of the People's Committees of provinces and cities need to direct relevant departments and branches to review and update the names of places applying the minimum wage, especially district-level administrative units that have changed their names, newly established, merged, dissolved, or adjusted their boundaries according to resolutions of the National Assembly Standing Committee from July 1, 2024 to present.
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Localities evaluate and propose adjustments to current zoning. In case of proposed adjustments, the local state labor management agency shall coordinate with the management board of export processing zones and industrial parks to discuss with the provincial Labor Confederation, provincial and regional branches of the Vietnam Federation of Commerce and Industry, and professional associations, investors and enterprises in the area.
Then, the presiding agency reports to the Provincial People's Committee to send comments to the Ministry of Labor, War Invalids and Social Affairs before April 1, 2025.
The most recent time, the Government increased the regional minimum wage by 6% from July 1, 2024. Specifically, the monthly minimum wage in region 1 increased to 4.96 million VND. Region 2 is 4.41 million VND. Region 3 is 3.86 million VND and region 4 is 3.45 million VND.
The hourly minimum wage increases by 6%, equivalent to VND16,600 - VND23,800. Specifically, region 1 increases to VND23,800, region 2 increases to VND21,200, region 3 increases to VND18,600 and region 4 increases to VND16,600.
State Treasury buys large amount of USD amid 'tight' exchange rate
News from the State Treasury, this unit has just announced the need to buy foreign currency from commercial banks with an expected volume of up to 150 million USD.
The transaction type is a spot transaction and settlement will be on February 21. This is the second foreign currency purchase offer by this agency since the beginning of 2025.
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On February 12, the State Treasury also announced the need to buy foreign currency immediately from commercial banks with a maximum volume of 200 million USD.
Notably, the State Treasury's foreign currency purchase activities took place in the context of the "hot" USD/VND exchange rate.
Accordingly, the USD bank exchange rate has increased sharply as the State Bank has continuously adjusted the central exchange rate upward in recent days, leading to an expansion of the exchange rate ceiling.
Reasons why foreign investors withdraw money from Vietnamese stocks
In a recently released report, VNDirect Securities said foreign investors increased net selling again in January 2025 with a total net selling value of more than VND 7,130 billion.
The stocks that foreign investors sold the most were VIC, FPT, STB, CTG and SSI.
According to VNDirect, foreign investors continued to net sell as the Dollar Index (DXY) and US government bond yields remained high.
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The US president's recent tax measures have raised concerns that US inflation will rise again in 2025, which will limit the room for monetary easing and make the Fed more cautious in its rate-cutting path.
VNDirect believes that although the market still expects the Fed to continue cutting interest rates in 2025, the level of cuts is expected to be limited.
"We believe that as long as the Fed does not show signs of strongly easing monetary policy, foreign capital flows will not be ready to return to frontier markets like Vietnam," VNDirect experts forecast.
A real estate boss of Saigon Thuong Tin resigns
The Board of Directors of Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (SCR) has just announced that it has approved the acceptance of the resignation letter from the position of Board member of Mr. Vo Quoc Khanh.
In his resignation letter sent on February 21, Mr. Khanh said he wanted to leave his current position for personal reasons.
SCR said the Board of Directors will be responsible and report to the nearest general meeting of shareholders about Mr. Khanh's resignation from February 21.
It is known that Mr. Khanh was appointed to the position of General Director of SCR from September 2020, then reappointed in February last year.
However, Mr. Khanh was later dismissed from the position of general director from April 2024. Up to now, Mr. Khanh has continued to withdraw from the Board of Directors.
Sabibeco replaces a series of bosses after being acquired by Saigon Beer
Saigon - Binh Tay Beer Group - Sabibeco Joint Stock Company (SBB) has just held an extraordinary general meeting of shareholders in 2025.
Sabibeco said that after Saigon Beer - Alcohol - Beverage Corporation - Sabeco completed the procedures for public offering of capital of this enterprise and in order to ensure the rights of shareholders owning more than 50% of the total number of common shares, Sabibeco's Board of Directors submitted to the congress for consideration and approval of the dismissal and election of additional members of the Board of Directors for the 2024 - 2029 term of Sabibeco.
Sabibeco
Accordingly, Saigon - Binh Tay Beer dismissed three members of the company's Board of Directors, including Chairman of the Board of Directors Van Thanh Liem and members of the Board of Directors Dinh Van Thuan and Pham Tan Loi.
At the same time, the company will elect three additional members of the Board of Directors nominated by Sabeco, including: Mr. Tan Teck Chuan Lester, Mr. Lam Du An and Ms. Pham Thi Thanh Thuy. Currently, Sabeco holds nearly 60% of the total voting shares at Sabibeco.
Expected domestic news and events from February 22 to March 1
- February 22: Tuyen Quang Newspaper celebrates 60 years of publishing its first issue; In Ho Chi Minh City, University - Locality - Enterprise Connection Day; In Hau Giang, Conference summarizing the cooperation group of radio and television stations in the Central Coast and Central Highlands (expanded); Walking program "Can Tho Health Sector - 70 years of following Uncle Ho's teachings - Towards poor patients".
- February 23-25: Thai Foreign Minister officially visits Vietnam.
- February 23: Launching the voluntary blood donation movement among young people in the entire army in 2025; Celebrating the 30th anniversary of the establishment of Ho Chi Minh City National University; Opening of the Ho Chi Minh City Night Run (VPBank VnExpress Marathon Ho Chi Minh City Midnight).
- February 24: Launching of the special issue of Communist Magazine "Unblocking institutional bottlenecks for the country to rise up"; Handing over the President's decision to officers on UN peacekeeping missions.
- February 25-28: New Zealand Prime Minister officially visits Vietnam and attends the 2nd ASEAN Future Forum.
- February 25: The Central Committee of the Vietnam Fatherland Front held a meeting of the organizing committee of the 5th National Press Award on preventing and combating corruption, waste and negativity.
Main news on Tuoi Tre daily today 22-2. To read Tuoi Tre print newspaper E-paper version, please register for Tuoi Tre Sao HERE
Weather news nationwide today 22-2.
Swing Bridge on the Maspero River - Photo: HUYNH PHUONG
Source: https://tuoitre.vn/tin-tuc-sang-22-2-sabibeco-thay-loat-sep-sau-khi-bi-bia-sai-gon-thau-tom-20250221152048696.htm
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