FDI capital into Vietnam increases, economy will recover quickly

- After 9 months, FDI capital into Vietnam exceeds 20 billion USD mark

According to data from the Foreign Investment Agency (Ministry of Planning and Investment), as of September 20, the total newly registered, adjusted, and contributed foreign investment (FDI) capital of foreign investors reached nearly 20.21 billion USD, up 7.7% over the same period. (See more)

- ADB: Vietnam's economy slows down but will recover quickly

The Asian Development Bank (ADB) has just released its Asian Development Outlook (ADO) report, in which it forecasts that Vietnam's economic growth is expected to slow down in 2023 due to lower external demand. However, the economy remains resilient and is expected to recover quickly in the near future. (See more)

- Ministry of Finance: Thang Long Expressway, Nhon - Hanoi Railway Station disbursement of 0 VND

The Ministry of Finance has just sent ministries, branches and localities a document detailing projects using central budget capital that have not been disbursed by June 30, 2023. Some provinces with many undisbursed projects are: Son La with 20 projects, Dien Bien with 17 projects; Hoa Binh with 12 projects; Ninh Binh with 9 projects; Tuyen Quang with 8 projects; Cao Bang with 5 projects; Lang Son with 9 projects; Lao Cai with 7 projects... Hanoi has 3 undisbursed projects: Construction of Thang Long Avenue Expressway, the section connecting National Highway 21 to Hanoi - Hoa Binh Expressway; the compensation, support and resettlement component project in Hanoi; the project to build a pilot urban railway line in Hanoi, Nhon - Hanoi Railway Station section. (See more)

- Nearly 70,000 billion VND has been absorbed through the credit bill channel.

On September 27, the State Bank of Vietnam (SBV) continued to withdraw an additional VND20,000 billion through the treasury bill channel. Thus, in 5 consecutive trading sessions, the SBV withdrew nearly VND70,000 billion through the treasury bill channel, and the winning interest rate tended to increase slightly (according to Doanh Nghiep & Kinh Doanh).

- Proposal for specialized audit on life insurance

The National Assembly Standing Committee proposed to have a separate topic to audit the life insurance market situation or through auditing credit and insurance institutions to clearly answer the contents of the National Assembly Resolution (according to Nguoi Lao Dong).

- Oil and gas businesses in debt, banks collect money from the Stabilization Fund

Enterprises say it is difficult to maintain the balance of the Price Stabilization Fund according to regulations because if they have outstanding debt at the bank that opened the Price Stabilization Fund account, the bank will automatically deduct debt from other accounts of the enterprise, including the account of the Petroleum Price Stabilization Fund. The bank that automatically takes money from the Petroleum Price Stabilization Fund to collect debts of enterprises is the Bank for Investment and Development of Vietnam (BIDV). The fact that the bank takes money from the Petroleum Price Stabilization Fund to collect debts of enterprises is against regulations because it is money contributed by the people. (See more)

Many key petroleum enterprises owe huge tax debts.

- VinFast's capitalization drops to 32 billion USD

VinFast shares continued to fall for the fifth consecutive session, thereby pulling the capitalization down to the threshold of 32 billion USD. Investors are waiting to see how billionaire Pham Nhat Vuong's VinFast will offer a large amount of shares. (See more)

- Mr. Truong Gia Binh returns to the Top 10 richest people

Mr. Truong Gia Binh, Chairman of the Board of Directors of FPT Corporation, has just recorded a sharp increase in assets of about 1,000 billion VND, up to 8,500 billion VND thanks to the sharp increase in stock prices. With this asset, Mr. Binh surpassed Mr. Ho Xuan Nang (who currently has assets of 7,830 billion VND) to enter the Top 10 richest people on the Vietnamese stock market. This is the first time in 15 years that Mr. Binh has returned to this position. (See more)

- Mr. Duc's company wants to raise an additional 1,300 billion VND to pay off debt.

Shareholders of Mr. Duc's company have just approved a plan to issue individual shares worth 1,300 billion VND to pay off debt. Hoang Anh Gia Lai plans to issue 130 million individual shares at an offering price of 10,000 VND/share. (See more)

Gold prices today on the international market plummeted to near the important support level of 1,900 USD/ounce. Domestic gold prices fell from a historical peak of over 69 million VND/tael to 68.7 million VND.

Oil prices on the world market today, September 27, tend to increase. Brent oil prices exceeded 94 USD/barrel, while WTI oil prices advanced to 91 USD/barrel.

On the stock market , at the end of the session on September 27, VN-Index suddenly increased by nearly 16 points, to 1,153.85 points. Green was everywhere in banking and securities stocks.
The bank USD price today decreased slightly. The international USD price also stagnated. The central exchange rate between VND and USD increased by 4 VND.

Today's bank interest rates recorded two more banks continuing to decrease, PG Bank and MSB Bank. ABBank surprised everyone when it was the bank with the lowest deposit interest rate in the market today.

Oil and gas businesses in debt, banks collect money from the Price Stabilization Fund Enterprises say it is difficult to maintain the balance of the Price Stabilization Fund according to regulations because if they have outstanding debt at the bank that opened the Price Stabilization Fund account, the bank will automatically deduct debt from the business's other accounts, including the account of the Price Stabilization Fund.

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