- Apartment prices continue to rise, while low-rise houses and land plots have seen significant price drops.

According to the Ministry of Construction , apartment prices have been continuously rising due to a scarcity of supply in recent years, while prices for low-rise housing and other segments have fallen sharply by 10-20% compared to the same period last year. This information was released by the Ministry of Construction at the 2023 construction industry review conference held on December 22nd in Hanoi (according to Tuoi Tre newspaper).

- Apartment prices in Hanoi are constantly increasing.

Amidst a challenging real estate market, apartment prices in Hanoi are steadily increasing, with some projects located far from the city center reaching prices of up to 100 million VND/m2. Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), also believes that the prolonged shortage of new supply has led to a situation where developers with approved and ongoing projects aim to maximize profits. Consequently, in many cases, projects initially intended for affordable or mid-range housing are rebranded as luxury housing by developers to maximize profits (according to Tien Phong newspaper).

Da Nang reduces land lease fees for commercial and service purposes.

On December 22nd, the Da Nang City People's Committee announced a decision to reduce land lease fees for commercial and service land. The city reduced the land price for commercial and service land by 10% compared to the price list already published. Simultaneously, Da Nang also added two adjustment coefficients based on the depth of the land plot (over 150m), resulting in a 10-20% reduction (according to Nguoi Lao Dong newspaper).

- Tet bonuses in Binh Duong reached a high of nearly 370 million VND per person.

On December 22nd, information from the Department of Labor, War Invalids and Social Affairs of Binh Duong province indicated that nearly 1,000 businesses in Binh Duong province have reported their plans for Tet (Lunar New Year) bonuses for the Year of the Dragon 2024. The lowest bonus is nearly 4.7 million VND and the highest is nearly 370 million VND (according to Tien Phong newspaper).

Nearly 1,000 businesses in Ho Chi Minh City have planned their Tet bonuses.

To date, 940 businesses have submitted surveys to the Ho Chi Minh City Department of Labor, War Invalids and Social Affairs regarding the payment of salaries and bonuses for the Lunar New Year 2024. By December 25th, the Department will compile and analyze the data and report to the Ho Chi Minh City People's Committee and the Ministry of Labor, War Invalids and Social Affairs (according to Tien Phong newspaper).

- 357 e-commerce platforms have provided seller information to the tax authorities.

According to the General Department of Taxation, 357 e-commerce platforms have so far provided information on revenue and sellers to the tax authorities. Simultaneously, the tax authorities have collected back taxes and processed violations against 179 businesses and 1,061 individuals operating on e-commerce platforms, totaling approximately 275 billion VND (according to Zing).

- Biometric authentication is required for the first transaction using Mobile Banking.

From July 1, 2024, biometric authentication is required for the first banking transaction via Mobile Banking. This is stipulated in Decision No. 2345/QD-NHNN on the implementation of safety and security solutions in online payments and bank card payments, issued by the Governor of the State Bank of Vietnam on December 18, 2023. (See more)

- Deputy Minister Do Thang Hai arrested, Ministry of Industry and Trade leader takes on additional responsibilities.

The Ministry of Industry and Trade has just issued a decision on the temporary assignment of duties within the Ministry's leadership. The responsibilities of Deputy Minister Do Thang Hai have been assigned to the remaining deputy ministers. This decision was made on the same day that the Ministry of Public Security spokesperson announced that the Security Investigation Agency had executed the decision to prosecute, the arrest warrant for temporary detention, and the search warrant against Deputy Minister Do Thang Hai of the Ministry of Industry and Trade for the crime of accepting bribes. (See more)

w bo cong thuong 1 3110.jpg
The Ministry of Industry and Trade headquarters on Hai Ba Trung Street. (Photo: Anh Van)

- First bank to reveal huge profits for the whole year of 2023

To date, Sacombank is the first bank to release its full-year 2023 business results. With estimated consolidated pre-tax profit of over 9,500 billion VND, Sacombank reported a 50% increase in profit compared to the previous year (according to Tuoi Tre newspaper).

- Real estate company owned by tycoon Duong Cong Minh changes name after 15 years.

Him Lam Land Joint Stock Company has changed its name to Truong Son Land Corporation. Despite the name change, the company's legal representative remains Mr. Nguyen Ngoc Thuy. Him Lam Land is a member of the Him Lam Group, chaired by Mr. Duong Cong Minh, and specializes in real estate development (according to Dan Tri newspaper).

- Pork prices hit rock bottom, millions of livestock farmers burdened with losses.

The Department of Animal Husbandry has identified the reasons why the prices of broiler chickens and live pigs have hit rock bottom, causing millions of livestock farmers to suffer heavy losses in 2023. However, consumers are not benefiting either, as retail pork prices have not decreased. (See more)

With over 43 million tons produced, the price of Vietnam's 'golden grain' has broken all previous records.

According to preliminary statistics from the General Department of Customs, rice exports up to December 15th reached 7.9 million tons, earning 4.54 billion USD, setting a new historical record for Vietnam's rice industry. With an estimated production of over 43 million tons this year, the price of rice in Vietnam has risen sharply, continuing to break historical records. Farmers are making huge profits, investing 1,000 USD/hectare in rice and currently earning 3,000-3,500 USD. (See more)

Today, December 22, 2023, gasoline and diesel prices on the international market recovered after a slight drop the previous day. Meanwhile, in the domestic market, gasoline and diesel prices were adjusted upwards from yesterday afternoon.

On December 22nd, the stock market saw the VN-Index rise slightly by 0.63 points to 1,103.06 points. Overall, the market remained very sluggish. Some banking stocks performed well. Securities stocks showed mixed results. In the manufacturing sector, red dominated green.

The central exchange rate on December 22nd was 23,915 VND/USD, down 5 VND from the previous session. USD prices at commercial banks fell sharply today, closing at 24,030-24,400 VND/USD (buying - selling). Global USD prices stabilized after plummeting in the previous session.

Today, SJC gold bar prices fluctuated sharply, rising rapidly in the morning and early afternoon before falling again, dropping below 77 million VND/ounce. Meanwhile, gold ring prices continued their upward trend and reached a new peak. World gold prices rose sharply again as the US dollar weakened.

Bank interest rates remained high on December 22nd. Several banks continued to lower rates for the 3rd or 4th time this month, with Agribank bringing deposit interest rates to their lowest level in history.