- Deputy Prime Minister asks banks to pump capital into the economy

Speaking at the meeting on credit growth management, Deputy Prime Minister Le Minh Khai stated that up to now, credit growth has reached 8.4%, lower than the set plan of striving for average credit growth of the whole system this year to reach about 14%. The Deputy Prime Minister requested the State Bank and banks to be more proactive and more ready to disburse capital promptly when businesses and people have demand, ensuring conditions (according to Dan Tri).

- In 2024, reduce central budget revenue and expenditure

National Assembly Chairman Vuong Dinh Hue has just signed and issued Resolution No. 105/2023/QH15 on central budget allocation in 2024. Compared to the National Assembly's resolution on budget allocation in 2023, total central budget revenue in 2024 decreased by VND 10,885 billion, total local budget revenue increased by VND 91,128 billion; total central budget expenditure decreased by VND 68,485 billion (according to the Government Newspaper).

- Suggestion to divide the Northern Midlands and Mountains into 4 economic development sub-regions

At the second meeting of the Northern Midlands and Mountainous Region Coordination Council held on December 1, Mr. Nguyen Do Dung - representative of the planning consultancy unit - assessed the Northern Midlands and Mountainous Region as a colorful picture but with a difference in growth between regions. The three main bottlenecks at present are limited intra-regional and inter-regional connectivity, large intra-regional development gap, and low quality of human resources. Mr. Dung proposed forming 4 sub-regions to jointly develop socio-economy and share investment (according to Lao Dong).

- Apply a unified salary regime, abolish all special mechanisms from July 1, 2024

This is one of the contents of Resolution No. 104/2023/QH15 on the 2024 state budget estimate signed by National Assembly Chairman Vuong Dinh Hue. According to Resolution 104/2023/QH15 dated November 10, 2023 of the National Assembly, from July 1, 2024, the overall salary policy will be reformed, all financial management mechanisms and specific incomes of state administrative agencies and units will be abolished (according to VTV).

- 27 localities reduce re-borrowing by 5,565 billion VND

According to the Ministry of Finance, as of August 31, 2023, 33 localities have proposed to adjust the re-borrowed capital estimate, leading to changes in the borrowing level of each locality compared to the level decided by the National Assembly. Specifically, 27 localities have proposed to reduce the re-borrowed capital estimate, with a total proposed reduction of VND 5,565 billion; 6 localities have proposed to increase the re-borrowed capital estimate, with a total proposed increase of more than VND 349 billion. (See more)

- Not enough grounds to cancel the auction results of Thuy Ta restaurant, Da Lat

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The auction results of the floating restaurant on Xuan Huong Lake cannot be canceled (Photo: Nguoi Lao Dong Newspaper)

Although the People's Committee of Da Lat City has proposed the People's Committee of Lam Dong Province to cancel the auction results of Thuy Ta Restaurant, the Department of Finance found that there was not enough legal basis to cancel. The story related to Mr. Doan Hai Ha (Hanoi City) winning the auction to rent Thuy Ta Restaurant (Da Lat City) at a "huge" price, nearly 5 times higher than the starting price, has caused a stir in public opinion in recent times and has not yet come to an end (according to Thanh Nien).

- EVN has a new General Director

On November 30, the Board of Members (BOD) of Vietnam Electricity Group (EVN) issued a decision to appoint Mr. Nguyen Anh Tuan, Chairman of the Board of Members of Hanoi Electricity Corporation, to hold the position of General Director of EVN from December 1, 2023. The term of appointment is 5 years. (See more)

- Investors flee LDG shares after Mr. Nguyen Khanh Hung was prosecuted

LDG shares of LDG Investment Joint Stock Company were sold off after Mr. Nguyen Khanh Hung, Chairman of the Board of Directors, was prosecuted. On December 1, LDG shares were sold off at the floor price right from the opening of the stock market. By the time the market closed, there were still nearly 41 million LDG shares sold at the floor price of VND3,450 while only over 900,000 units were matched (according to Thanh Nien).

- Being 'misunderstood' regarding Van Thinh Phat, Debt Trading Company speaks up

Vietnam Debt Trading Company Limited (DATC) affirms that since November 2014, DCSC Company has operated independently, has no binding relationship and is no longer a member unit of DATC. (See more)

- LDG Chairman Nguyen Khanh Hung was prosecuted, Dat Xanh Group immediately spoke up

Shares of Dat Xanh Group (DXG) were sold off heavily after news that LDG Chairman Nguyen Khanh Hung was prosecuted. Dat Xanh has just spoken out about its relationship with LDG real estate. Chairman Luong Tri Thin's company said it had divested from LDG since July 2020. (See more)

- LDG Chairman: Notorious for illegal sales, constantly being sold off

Before being arrested, LDG Chairman Nguyen Khanh Hung was infamous for being one of the bosses whose shares were continuously sold off, most recently the illegal sale of millions of LDG shares. (See more)

- Despite the sharp price drop, lobster is still more expensive than imported Alaskan lobster.

Hundreds of tons of lobsters are congested, flooding the domestic market with sharply reduced prices due to China stopping imports. Although the price has decreased by about 500,000 VND/kg, it is still more expensive than imported green lobsters and Alaska lobsters. (See more)

Today, December 1, the international oil price plummeted after OPEC+'s decision to cut production. Brent oil price fell to 82 USD/barrel, WTI oil price was at 75 USD/barrel.

The stock market on December 1 recorded the VN-Index increasing by 8.03 points, reaching 1,102.16 points. No bank stocks on the HoSE recorded red. Securities stocks traded quite positively. The real estate group was more differentiated.

The central exchange rate on December 1 increased by 32 VND. The USD price at commercial banks today increased slightly, closing the session listed at 24,080-24,450 VND/USD (buy - sell). Meanwhile, the world USD price went down.

Gold price today, December 1, on the international market remains high, above 2,000 USD/ounce after the US announced that inflation in October decreased slightly compared to September. Domestic gold price 'turned around' and decreased by 100,000 VND/tael in both directions.

Bank interest rates on December 1st recorded another adjustment by one bank. Accordingly, HDBank simultaneously reduced 0.2%/year for deposits with terms from 1-13 months. The "special interest rate" also decreased 0.2%/year compared to yesterday.