3 districts in Hanoi collected more than 650 billion from land auctions

Land auctions yield huge profits, three districts in Hanoi collect over 650 billion VND.

From the beginning of 2024 until now, Phu Xuyen, Phuc Tho, and Me Linh districts (Hanoi) have successfully held land auctions, generating over 653 billion VND.

Many districts in Hanoi are holding land auctions. Photo: Tung Giang

According to information from the People's Committee of Phu Xuyen district, the unit recently held a public auction and successfully sold 21 out of a total of 31 land plots covering 2,664.71 square meters in Bai Do village (Tri Thuy commune), Ngo village (Chuyen My commune), Tu San village (Phu Tuc commune), etc.

Accordingly, 21 land plots were successfully auctioned with a total starting price of over 33 billion VND. Through the auction, the People's Committee of Me Linh District collected approximately 47 billion VND, with a total difference between the starting price and the actual auction price of over 13.5 billion VND.

The starting price for these 21 land plots is approximately 10-15.1 million VND/m2. These land plots have completed the construction of technical infrastructure and are connected to the existing infrastructure in the adjacent residential areas in the centers of the localities.

According to information from the People's Committee of Phuc Tho District (Hanoi), from the beginning of 2024 until now, the district has collected nearly 380 billion VND from auctioning land use rights.

Mr. Nguyen Anh Tuan, Director of the Land Development Center of Phuc Tho District (Hanoi), said that the land use rights auction held at the end of April 2024 was one of a total of nine successful auctions organized in coordination with other organizations since the beginning of 2024. (See more...)

The banking sector's profits are expected to remain strong.

At the beginning of 2024, the State Bank of Vietnam set a credit growth target of 15-16% to boost economic recovery; however, this is challenging for the banking sector as credit growth reached a minimum of 0.26% in the first quarter.

Credit growth has yet to accelerate. Photo: Hai Nguyen

During the recent shareholder meetings, many banks set profit growth targets of around 10% for this year and expressed confidence in their 2024 plans amidst low interest rates and gradually improving credit conditions.

It can be seen that the profit targets set by banks for this year are not significantly higher than last year's achievements, but there is still considerable pressure as credit growth remains slow, likely reaching only 10-11% this year, and net interest margin (NIM) has not increased significantly because banks have to lower lending interest rates to stimulate credit demand.

Meanwhile, non-interest income, especially from bancassurance sales, has not improved. Although Circular 02 has been extended, bad debts will increase significantly once it expires, leading to larger provisions for bad debts.

According to financial experts, the recovery will become clearer towards the end of the year thanks to loosened global monetary policy; lower interest rates, stronger export and import growth, and improved consumer demand, contributing to a more positive growth outlook compared to 2023. See more...

The tax authorities received more than 4,400 requests to provide records to the police.

In 2023 alone, the tax authorities transferred 88 cases to the police for investigation and prosecution, and also received 4,416 requests for documents from the police to assist in managing and suppressing economic crimes.

Deputy Director General of the General Department of Taxation Mai Son (left) affirmed that the coordination between the tax sector and functional units under the Ministry of Public Security is very effective. Photo: General Department of Taxation.

According to information from the General Department of Taxation, speaking at a recent workshop related to the management of electronic invoices (e-invoices) and the prevention of economic crimes, corruption, and smuggling, Deputy Director General of the General Department of Taxation Mai Son updated the latest statistics on the tax authorities' management activities in this field and their coordination with the police.

According to Mr. Mai Son, the nationwide implementation of electronic invoices has contributed to changing the management methods and service delivery of the public by tax authorities in particular and state management agencies in general, towards automation and timely prevention of invoices from businesses that have absconded or disappeared; preventing tax fraud and evasion. This, in turn, creates a healthy and equitable business environment.

Statistics show that to date, the tax authorities have received and processed nearly 7.2 billion invoices. The e-invoice system has been operating stably and smoothly 24/7, bringing practical benefits to citizens and businesses. See more...

Witness firsthand the process of sowing and transplanting the rice variety that produces the world's best-tasting rice.

Every year, the Dai Thanh Agricultural Cooperative in Dai Tam commune, My Xuyen district, produces over 100 hectares of certified ST24 and ST25 rice seeds (rice varieties known for producing the world's best-tasting rice). Here, rice is cultivated twice a year with a strict farming process from land preparation, planting, and care to harvesting. Video: Phuong Anh

Source: https://laodong.vn/thi-truong/kinh-te-24h-3-huyen-o-ha-noi-thu-toi-hon-650-ti-tu-dau-gia-dat-1345122.ldo