14,000 billion VND in unallocated public investment; review of sand auctions.

- Over 14,000 billion VND of public investment capital remains unallocated.

With just over two months remaining until the end of the 2023 public investment disbursement period, dozens of ministries, sectors, and localities have yet to fully allocate public investment funds, estimated at over 14,000 billion VND, to planned projects. Failure to disburse funds on schedule will significantly impact economic growth in many regions and localities (according to VTV).

- The Prime Minister has ordered a review of the unusually high auction prices for three sand mines.

Prime Minister Pham Minh Chinh has just signed and issued dispatch No. 1087 on strengthening the management of auctioning the right to exploit mineral resources for common construction materials.

The official dispatch stated that in Hanoi, the results of the recent auctions for the right to exploit three sand mines – Lien Mac (Bac Tu Liem district), Chau Son, and Tay Dang - Minh Chau (Ba Vi district) – were many times higher than the starting price, showing unusual circumstances and attracting significant public attention, potentially impacting socio -economic development and the construction materials market. The Prime Minister instructed the Chairman of the Hanoi People's Committee to direct a review of the entire process of surveying, assessing mine reserves, preparing documentation, and organizing the auction for the right to exploit the three aforementioned sand mines (according to Tuoi Tre newspaper).

- Vietnam is buying up Vietnamese rice, making it Vietnam's second-largest customer, surpassing China.

According to preliminary statistics from the General Department of Customs, in the past 10 months, Vietnam exported 7.05 million tons of rice, earning 3.95 billion USD. Compared to the same period last year, rice exports increased by 15.9% in volume and a sharp 34% in value.

Over the past 10 months, Vietnam's rice exports have increased sharply (Photo: Hoang Ha)

Notably, the Philippines accounted for 35.7% of Vietnam's total rice exports in the first 10 months of 2023, securing the top position. This was followed by Indonesia and China, accounting for 13.8% and 12.9% respectively. Significantly, due to large-scale rice purchases from Vietnam over the past 10 months, Indonesia officially surpassed China to become Vietnam's second-largest rice customer. In the same period last year, rice exports to Indonesia accounted for only 0.9% of Vietnam's total rice exports. (See more)

- Two organizations linked to Ms. Dang Thi Hoang Yen transferred nearly 32 million ITA shares.

Saigon - Mekong Urban Investment Joint Stock Company, an organization related to Ms. Dang Thi Hoang Yen, Chairwoman of the Board of Directors of Tan Tao Investment and Industry Joint Stock Company (stock code: ITA), reported selling all 31.8 million ITA shares it owned between October 26 and November 10 through negotiated transactions. Conversely, Tan Dong Phuong Construction and Development Investment Joint Stock Company, also related to Ms. Yen, announced that it successfully purchased a similar number of ITA shares sold by Saigon - Mekong Urban Investment Joint Stock Company between October 30 and November 10 (according to Nguoi Lao Dong newspaper).

- Shares of the company that owns the 5-star Pao's Sapa hotel are about to be delisted.

CTX Holdings - Constrexim is considered a real estate giant with many high-end projects, including Pao's Sapa Hotel. However, the company is facing difficulties, its shares have not been traded for the past year, and it is on the verge of delisting. (See more)

Despite the high prices, apartments are still in demand.

Despite the gloomy state of the land market and sky-high apartment prices, consumers have continued to seek opportunities to buy for both residential and investment purposes in recent months. The reason is believed to be the limited number of projects, while the high prices of apartments are still affordable for consumers, reflecting the genuine housing needs of the people (according to VTC News).

Gold prices on the world market today, November 12th, fell for the second consecutive week. On a weekly basis, world gold prices decreased by 2.8%.

Source: https://vietnamnet.vn/ban-tin-kinh-te-12-11-14-000-ty-dau-tu-cong-chua-phan-bo-ra-soat-dau-gia-cat-2214063.html