EVN leaders face disciplinary action; credit growth boosted.

VietNamNet•22/10/2023

- The Capital Management Committee recommends disciplinary action against EVN leaders for electricity shortages.

The State Capital Management Committee at Enterprises has proposed a reprimand for several leaders of the Vietnam Electricity Group (EVN) and the National Power System Dispatch Center (A0) for causing disruptions to electricity supply. Accordingly, the Committee proposed reprimands for EVN leaders including: Mr. Duong Quang Thanh - former Chairman of the Board of Members; Mr. Tran Dinh Nhan - member of the Board of Members and General Director; Mr. Ngo Son Hai - Deputy General Director; and the Director and Deputy Director of the National Power System Dispatch Center. The Committee is continuing to coordinate with the Party Committee of the Central Enterprise Bloc to direct EVN to issue disciplinary decisions against officials and Party members. (See more)

- The Prime Minister requested the State Bank of Vietnam to manage credit growth appropriately.

Prime Minister Pham Minh Chinh has just signed a directive on continuing to resolutely implement solutions to enhance access to credit, remove difficulties for production and business activities, and fulfill the task of collecting state budget revenue in 2023. The Government requests the State Bank of Vietnam (SBV) to manage credit growth rationally and effectively, striving to achieve the highest possible target, improve credit quality, direct credit towards production and business sectors, priority sectors, and growth drivers of the economy (especially investment, consumption, and exports), and control credit in sectors with potential risks (according to Nhip Song Thi Truong).

the guy in the ls1 668.jpg — The Prime Minister requested the State Bank of Vietnam to manage credit growth appropriately (Photo: Hoang Ha).

- More than 1,000 trucks carrying goods pass through the Lang Son - China border gate every day.

According to the Management Board of the Dong Dang - Lang Son Border Economic Zone, the five border gates of Lang Son province – Chi Ma, Huu Nghi, Tan Thanh, Coc Nam, and the Dong Dang international railway station – are currently maintaining stable import and export activities, with over 1,000 vehicles passing through customs each day. According to statistics from relevant authorities, an average of 350-400 vehicles carrying various types of fresh fruit arrive at the province's border gates daily for export to China (according to Tien Phong newspaper).

- Shortcomings revealed in the management of durian growing area codes.

Although the 2023 durian harvest is drawing to a close, the management and use of durian growing area codes in Dak Lak province is facing many challenges, especially the continued occurrence of fraud and forgery, which affects reputation and brand (according to Lao Dong newspaper).

- Under Thai ownership, Binh Minh Plastics reaches new profit peak.

Binh Minh Plastics - the largest plastics company in Southern Vietnam - despite a decline in revenue, still saw high profit growth, achieving its full-year profit target after only 9 months. According to the newly released Q3 financial report, Binh Minh Plastics Joint Stock Company recorded a net profit of VND 784 billion in the first 9 months of the year, a 75% increase compared to the same period last year, thus exceeding its annual profit target (VND 651 billion) by 20%. This is the company's best profit level, even though only 3/4 of the year has passed, and is higher than all previous annual profit figures. (See more)

The world's largest oil and gas corporation wants to invest in Vietnam.

Recently, during a meeting with Prime Minister Pham Minh Chinh, Mr. Yasser M. Mufti, Executive Vice President of Saudi Aramco, expressed his desire to invest in Vietnam and build a new oil refinery. Prime Minister Pham Minh Chinh suggested that Aramco participate in investing in Vietnam's oil and gas sector, especially in large-scale oil refining projects. Saudi Aramco, a Saudi Arabian corporation, is the world's largest oil producer and has at times held the position of the world's most valuable company by market capitalization (according to Dan Tri newspaper).

Gold prices ended the week higher today. Tensions in the Middle East caused a sharp rise in gold prices due to safe-haven demand.

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