Notable news: Deputy Prime Minister requests report on 'VICEM's loss of thousands of billions'; Ho Chi Minh City takes strong action against illegal buses and stations; Many banks worry about bad debt when Circular 02 expires...
A passenger bus picks up passengers illegally at Long K parking lot on Highway 13, Hiep Binh Phuoc Ward (Thu Duc City) on January 1 - Photo: MINH HOA
Take strong action against illegal buses and stations during Tet
That is the request of the Ho Chi Minh City Department of Transport for units to ensure traffic safety during the Tet holiday.
Specifically, the department requested the Ho Chi Minh City Police, districts and Thu Duc City to review, increase patrols, control and strictly handle the situation of "illegal buses and stations".
In particular, focus on passenger vans that pick up and drop off passengers in the wrong places, causing traffic disorder inside and outside the bus station. At the same time, strictly manage activities at "hot spots" such as bus stations, parking lots, train stations, ports, inland waterway ports, river crossings, ferries, and airports.
The Ho Chi Minh City Traffic Police Department also said it would ask its forces to focus on handling 79 "illegal bus stations" that the Ho Chi Minh City Department of Transport "named" in the area.
Deputy Prime Minister requests report on "VICEM's loss of thousands of billions" case
The Government Office has just issued document No. 186/VPCP-DMDN conveying the direction of Deputy Prime Minister Tran Hong Ha regarding the reflection that Vietnam Cement Corporation (VICEM) lost thousands of billions.
Previously, on December 15, 2024, the press reported: "Cement industry giant VICEM lost another trillion", reflecting the situation of VICEM losing for the second consecutive year when consolidated profit in 2024 was negative 1,400 billion VND.
Regarding the above issue, Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to preside over and coordinate with the Ministry of Finance and relevant agencies to review the incident reported in the article; clarify the cause of VICEM's loss of thousands of billions and propose solutions in the coming time; and report to the Prime Minister before January 15, 2025.
Many banks worry about bad debt when Circular 02 ends
In a recently published report, Vis Rating - a credit rating unit with capital from Moody's, said that after Circular 02 expires at the end of 2024, banks will have to record all credit costs for restructured debts.
The impact on earnings may still be manageable for large banks with limited restructuring exposure. However, a small number of banks, such as VPB, with significant restructuring exposures to large clients and low NPL coverage ratios, will have the highest asset risk.
These banks still face mainly outstanding problems in the real estate sector, struggling to improve profitability to meet higher credit costs. Funding costs are also higher amid increased competition among banks to support credit growth...
Previously, Circular 02 was started to be implemented by the State Bank of Vietnam in May 2023 as a policy tool to support customers to overcome business and financial difficulties in the context of slowing economic growth.
Near the end of the year, credit increased by more than 13.8%, mobilization "weakened"
By December 31, 2024, the average trading value on the stock market will reach VND 21,008 billion/session - Photo: QUANG DINH
According to the socio-economic report for the fourth quarter of 2024 announced by the General Statistics Office, as of December 25, 2024, the economy's credit growth reached 13.82% (the same period last year increased by 11.48%).
In general, total means of payment increased by 9.42% compared to the end of 2023, while in the same period in 2023 it increased by 10.34%; capital mobilization of credit institutions increased by 9.06%, compared to 11.19% in the same period last year.
The report also said that total premium revenue in the fourth quarter of 2024 is estimated to increase by 0.2% over the same period last year. In 2024, premium revenue in the entire insurance market is estimated to reach VND227,500 billion, down 0.25% over the previous year.
Regarding the stock market, by December 31, 2024, the average trading value on the stock market will reach VND 21,008 billion/session, an increase of 19.5% compared to the average in 2023; the average trading value on the bond market will reach VND 11,802 billion/session, an increase of 81.1%; the average trading volume on the derivatives market will reach 211,346 contracts/session, a decrease of 10.2%.
Strengthening food safety inspection for Tet
Ho Chi Minh City residents shopping for Tet - Photo: PHUONG QUYEN
The Minister of Health has just signed a directive to strengthen medical work to ensure the celebration of the Lunar New Year 2025, requiring units to ensure medical examination and treatment, strengthen food safety inspections, monitor and detect early epidemics at border gates, and prevent drug shortages and high drug prices... during Tet.
Specifically, the Ministry of Health requested provinces and cities to establish a central interdisciplinary steering committee on food safety to implement food safety assurance work for Tet; strengthen interdisciplinary inspection and supervision to ensure food safety before, during and after Tet, focusing on product groups consumed a lot during Tet, food processing villages, provinces with border gates, and large cities.
The Ministry also requested units to ensure medical examination and treatment during Tet; the Institutes of Hygiene and Epidemiology, Pasteur Institute regularly monitor, analyze, and evaluate the epidemic situation, direct, support, and guide units and localities to strengthen surveillance, early detection of cases at border gates, in the community and at medical facilities to promptly handle and control the spread of the epidemic...
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Source: https://tuoitre.vn/tin-tuc-sang-9-1-lam-ro-vu-vicem-lo-ca-nghin-ti-tp-hcm-xu-manh-tay-xe-du-ben-coc-20250108222743127.htm
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