Proposal to increase ceiling price of air tickets, Hanoi to increase price of tap water

Urgently operate corporate bond trading floor in July

At the Conference on the review of the State Finance and Budget work in the first 6 months of 2023 held by the Ministry of Finance on July 13, Deputy Prime Minister Le Minh Khai requested the Ministry of Finance to urgently handle the existing problems and shortcomings of the corporate bond market, insurance market and stock market; urgently operate the corporate bond trading floor in July 2023.

Meanwhile, the Hanoi Stock Exchange (HNX) confirmed that it has prepared all technical conditions to officially operate the individual corporate bond trading system.

Urgently operate corporate bond trading floor (Illustration photo: Hoang Ha)

Official announcement of Vietnam's airport and seaport planning

On July 14, the Ministry of Transport held a conference to announce the Master Plan for the development of the national airport system for the 2021-2030 period, with a vision to 2050.

Accordingly, the airport system is planned according to the axis-spoke model with two main transport hubs in the Hanoi capital area and the Ho Chi Minh City area.

Deputy Governor: Interest rates will continue to decrease

At the conference to review banking activities in the first 6 months of the year and deploy tasks for the last 6 months of the year held on the morning of July 15, Deputy Governor of the State Bank of Vietnam Dao Minh Tu informed that by the end of June 2023, the average deposit and lending interest rates of new transactions in VND of commercial banks will decrease by about 1%/year compared to the end of 2022.

With the impact of policy lag, it is expected that lending interest rates for the economy will continue to decrease in the coming time.

Speaking at the Conference, the Prime Minister requested the banking sector to implement flexible monetary policies; continue to reduce interest rates, especially lending rates. (See more)

Banks agree to continue reducing lending rates

On July 13, the Vietnam Banks Association (VNBA) held a conference to review the activities of member organizations in the first 6 months of 2023.

At the conference, credit institutions all expressed their agreement with the Banking Association's call to reduce minimum interest rates by 1.5 - 2%; at the same time, consider reducing fees, charges and other services... to support businesses and people to restore production and business, and promote economic growth.

Request to report to the Prime Minister about the difference of 2,910 billion VND at Vicem

The conclusion of the inspection of the implementation of restructuring, equitization, and divestment of state-owned enterprises under the Ministry of Construction in the 2011-2018 period, recently announced by the Government Inspectorate (GIA), pointed out many financial violations at the Vietnam Cement Industry Corporation (Vicem).

Regarding the difference between equity and charter capital, the Government Inspectorate requested the Ministry of Construction to report to the Prime Minister on the handling and payment of the difference of VND 2,910 billion of Vicem Corporation, and the difference of hundreds of billions of VND at Vicem Hai Phong. (See more)

EVN inspection conclusion: Violations in direction and operation of electricity supply

The recently announced inspection conclusion of the Ministry of Industry and Trade pointed out shortcomings, limitations, shortcomings, and violations in the direction and operation of electricity supply in the 2021-2023 period of EVN and related units.

The inspection conclusion blamed EVN for widespread power supply disruptions, especially in the northern region from the second half of May to mid-June 2023.

The Inspectorate of the Ministry of Industry and Trade pointed out that the emergency load shedding led to sudden, unannounced power outages on a large scale for customers using electricity for daily life, production, and business. (See more)

Minister of Finance: Invalid contracts cannot be refunded

Finance Minister Ho Duc Phoc said that when doing business, enterprises must sign contracts. If the contract is invalid, tax cannot be refunded.

This message was given by the Minister of Finance at the conference reviewing the first 6 months of 2023 of the Ministry of Finance held on July 13. (See more)

Government Inspectorate points out series of violations of banks

The Government Inspectorate has just announced the conclusion of the inspection of the responsibility of the State Bank and credit institutions in implementing the project to restructure the system of credit institutions and the project to handle bad debt in the period 2013-2017.

According to the Government Inspectorate, the implementation of the approved restructuring plan is still limited, lacking, and violating. Some joint stock commercial banks violated the credit growth limit. Although the handling of violations in cross-ownership, capital contribution, and share purchase has decreased, there are still cases of slow handling. Many banks sold bad debts in violation of regulations. Many banks violated lending, focusing on a small number of customers. (See more)

State Bank adjusts credit growth target

The State Bank has just adjusted the credit growth target for 2023 for credit institutions (CIs) to a system-wide level of about 14% to provide more capital for the economy.

With the total outstanding credit balance of the entire economy at the end of 2022 at VND11.9 trillion (about USD500 billion), the additional lending of the entire banking system according to the target will be VND1.67 trillion (about USD70 billion). (See more)

Proposal to increase ceiling on airfares

The Ministry of Transport has just proposed to raise the ceiling price of domestic airfares by an average of 3.75% compared to the current price range. Accordingly, except for socio-economic flights and flights under 500 km, other flights may increase by 50,000 - 250,000 VND/ticket/way.

Travel businesses said that if the ceiling on airfares increases, it will have a significant impact on revenue and the number of domestic tourists.

Hanoi adjusts domestic water prices

Hanoi officially approved the retail price of tap water. Accordingly, from July 1, 2023, the water price for households using more than 30m3/month is 24,000 VND/m3; from January 1, 2024, this price will increase to 27,000 VND/m3.

Retail price of clean water for daily use does not include value added tax and environmental protection fee for daily use water.

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