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 its opinion 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 were estimated to earn 4.8 billion USD, a sharp increase of 22% compared to September last year. Of which, rice and vegetables became the brightest '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 there have been no changes in tax refunds and land procedures. (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 are 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 proposed to increase the number of tickets issued. However, the Ministry of Finance said that increasing the number of tickets issued should be considered carefully, 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 of September 28, the State Bank of Vietnam (SBV) continued to withdraw VND 20,000 billion 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 VND 90,000 billion 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 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 improperly to the Petroleum Price Stabilization Fund. (See more)

- Comedian Thu Trang's company is being 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 capitalization down 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 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 losses, accumulated losses of more than 1.4 billion USD, negative equity, liabilities exceeding total assets, short-term debts 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).

Today, September 28, the world oil price tends to increase following the upward trend from the previous session. Brent oil price has surpassed 97 USD/barrel, 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, down to 1,152.43 points. Notably, securities and banking stocks were strongly differentiated.

The USD bank price increased slightly today. The international USD price stagnated at a 6.5-month high. The central exchange rate between VND and USD was at 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 by one bank. VPBank officially reduced deposit interest rates for the first time in September.

Source