- Credit growth unexpectedly decreased in October
According to the State Bank of Vietnam (SBV), as of October 24, credit to the economy increased by 6.81% compared to the end of 2022, of which it has increased faster since May; credit to businesses reached nearly 6.5 million billion VND, accounting for over 50% of outstanding loans of the entire economy . Notably, previously, the SBV said that credit growth by the end of September reached 6.92%, with a strong recovery in the second half of September. According to the SBV, the reason for slow credit growth is mainly due to factors such as low credit demand because businesses are affected by objective factors (according to Tien Phong).
- Real estate giants rush to attract trillions, reducing pressure on bond market
Many Vietnamese real estate giants have raised thousands of billions more to settle previous bond debt. Some businesses have completely settled their debts, but some corporations need more time to restructure. (See more)
- Prime Minister : 'Always put businesses and people at the center of innovation'
The Prime Minister affirmed that innovation is an inevitable trend, one of the top priorities of our country and noted that businesses and people must always be at the center of innovation. The above message was delivered by the head of the Government when attending the inauguration ceremony of the new facility of the National Innovation Center and the Vietnam International Innovation Exhibition 2023 at Hoa Lac Hi-Tech Park, Hanoi, which took place this morning. (See more)
- VCCI supports 50% reduction in environmental protection tax on gasoline
The Vietnam Federation of Commerce and Industry (VCCI) supports the proposal to reduce 50% of environmental protection tax on gasoline in 2024, which has just been proposed by the Ministry of Finance. According to the proposal of the Ministry of Finance, the environmental protection tax on gasoline will be reduced by VND2,000/liter; jet fuel, diesel, fuel oil, and lubricants will be reduced by VND1,000/liter... The tax reduction proposal is expected to support businesses and restore the economy during difficult times (according to Tien Phong).
- Bank sells more than 10 houses in Hoi An ancient town, worth hundreds of billions
The Vietnam Bank for Agriculture and Rural Development's Debt Management and Asset Exploitation Company Limited (Agribank AMC LTD) has just announced the simultaneous auction of 11 houses in Hoi An ancient town. The starting price of these assets is the lowest at 8.5 billion VND and the highest is up to 71.179 billion VND. The total value of the 11 collateral assets (calculated according to the starting price) is up to more than 252 billion VND. (See more)
- China massively buys cashew nuts from Vietnam
According to statistics from the General Department of Customs, in September, cashew nut exports to all traditional and potential markets increased sharply by 2-3 digits compared to September 2022. Accordingly, China surpassed the US to become the largest customer of Vietnamese cashew nuts. The export value to China in September reached 73.2 million USD, an increase of 107.6% compared to September last year. (See more)
The world oil prices continued to increase from the previous session at the end of the week. Oil prices increased due to concerns about tightening global supply. At the end of the week, Brent crude oil prices were traded at 90.48 USD/barrel, WTI crude oil prices were at 85.54 USD/barrel.
Gold prices on the market today increased sharply, surpassing 2,000 USD/ounce to the highest level since May. The escalation of conflict in the Middle East caused gold prices to increase. Domestic gold bars also rose to over 71 million VND/tael. Gold ring prices increased sharply, approaching the 60 million VND/tael mark, reaching the highest level ever.
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