Global minimum tax proposal; agricultural exports increase

- Proposal to apply global minimum tax from 2024

On the morning of September 28, at the 26th session, the National Assembly Standing Committee gave opinions on the draft Resolution of the National Assembly on the application of additional corporate income tax according to the regulations against global tax base erosion. Presenting the report, Minister of Finance Ho Duc Phoc said that Vietnam supports and proactively applies the global minimum tax regulations from 2024, creating a favorable mechanism to encourage businesses to pay additional taxes in Vietnam (according to Lao Dong).

- Agricultural exports earned 4.8 billion USD

In September alone, agricultural exports are estimated to have earned 4.8 billion USD, a sharp increase of 22% compared to September last year. Of which, rice and vegetables have become the shining stars of the agricultural sector. (See more)

- Export orders are moving, tax refunds and land procedures remain stagnant.

Textile, food, and essential goods businesses have begun to receive export orders. However, the Ho Chi Minh City Business Association (Huba) said that the delay in tax refunds and land procedures has not changed. (See more)

- More than 38,000 foreign investment projects are still valid

According to the Foreign Investment Agency ( Ministry of Planning and Investment ), as of September 20, 2023, the country has 38,379 valid projects with a total registered capital of 455.06 billion USD. The accumulated realized capital of foreign investment projects is estimated at 289.9 billion USD, equal to 63.7% of the total registered investment capital in effect (according to VTV).

- Hundreds of real estate projects were resolved

According to the Ministry of Construction, in Hanoi, the Government's working group has resolved difficulties for 419 projects compared to the initial 712 projects. In Ho Chi Minh City, 180 stuck projects have been resolved. In Hai Phong, Da Nang, Can Tho, Dong Nai, Binh Thuan, the working group is also continuing to resolve difficulties for projects. (See more)

- Proposal to increase lottery ticket issuance, what does the Ministry of Finance say?

The Southern Lottery Company has proposed to increase the number of tickets issued. However, the Ministry of Finance said that the increase in the number of tickets issued should be carefully considered, ensuring security, order and social safety, not just simple economic efficiency (according to Tien Phong).

- SBV withdraws another 20,000 billion VND through credit bill channel
In the session on September 28, the State Bank (SBV) continued to withdraw 20,000 billion VND through the treasury bill channel, with the highest winning interest rate since the beginning of the issuance. In total, in the last 6 trading sessions, the SBV has withdrawn nearly 90,000 billion VND from the banking system through the treasury bill channel (according to Nhip Song Thi Truong).

- More oil giants violate the regulations of the Price Stabilization Fund

Many petroleum key enterprises do not comply with the regulations on the Petroleum Price Stabilization Fund and public information about this Fund cannot be found on the website upon request. As of September 15, there were 5 enterprises that transferred incorrectly to the Petroleum Price Stabilization Fund. (See more)

- Comedian Thu Trang's company was sued.

Thu Trang General Entertainment Company Limited has just been sued in relation to a dispute over an investment cooperation contract with Bao Trinh Transport Service Trading Company Limited. Thu Trang Company operates in the entertainment and film production industry, founded by actress Thu Trang and her husband, actor Tien Luat (according to Dan Tri).

- VinFast's capitalization drops to 30 billion USD

VinFast shares continued to fall for the 6th consecutive session, bringing the capitalization to the threshold of 30 billion USD. The car company of billionaire Pham Nhat Vuong submitted a revised plan to sell a large amount of shares. (See more)

- VPBank Chairman's son spends thousands of billions to buy stocks

Mr. Ngo Chi Trung Johnny, son of Mr. Ngo Chi Dung - Chairman of the Board of Directors of VPBank - has just registered to buy 70 million VPB shares for investment purposes. It is estimated that Mr. Trung will need to spend about 1,440 billion VND to buy the registered shares (according to Tien Phong).

- Vietnam Airlines has suffered losses for 14 consecutive quarters, owing employees more than 1,155 billion VND

A series of bad financial information is clearly shown in Vietnam Airlines' self-made financial statements such as: 14 consecutive quarters of after-tax loss, accumulated loss of more than 1.4 billion USD, negative equity, liabilities exceeding total assets, short-term debt exceeding short-term assets... This airline also surprised when the list of payables to employees was still more than 1,155 billion VND (according to Lao Dong).

- Mr. Thuy contributed an additional 138 billion VND to Lien Viet Bank

The amount of money Mr. Thuy spent to buy additional issued shares was 138 billion VND. After the transaction, Mr. Thuy holds a total of 61.629 million LPB shares (according to Nguoi Lao Dong).

Oil prices today, September 28, on the world market tend to increase following the upward trend from the previous session. Brent oil price has surpassed the 97 USD/barrel mark, while WTI oil price has reached 94 USD/barrel.

On the stock market , at the end of the session on September 28, VN-Index decreased by 1.42 points to 1,152.43 points. Notably, securities and banking stocks were strongly differentiated.

The USD price in banks increased slightly today. The international USD price stagnated at a 6.5 month high. The central exchange rate between VND and USD was 24,088 VND/USD, unchanged from yesterday.

Gold prices on the international market today have continued to fall and broken through the important support level of 1,900 USD/ounce. SJC gold prices have increased again this afternoon.

Bank interest rates on September 28 recorded a decrease at one bank. VPBank officially reduced deposit interest rates for the first time in September.

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