Morning news 7-2: USD price soars again; 'diamond tycoon' group owes biggest tax debt in Nghe An

Some notable news: Proposal to increase support for social insurance participants; A series of stock funds withdraw cash; 58,300 businesses withdraw from the market at the beginning of the year; Do not organize widespread festivals that are costly, a waste of time and money...

Tin tức sáng 7-2: Giá USD lại phi mã; Tập đoàn nhà — A meeting at the 7th session of the National Assembly - Photo: GIA HAN

The National Assembly Standing Committee gave opinions on accepting and revising the draft Law on Teachers.

According to the program this morning (February 7), the National Assembly Standing Committee will give opinions on explaining, accepting and revising the draft Law on Teachers. Previously, the draft law was submitted to the National Assembly for discussion and comments at the 8th session.

Previously, at the meeting to solicit opinions on the reception and revision of the draft Law on Teachers organized by the Ministry of Education and Training in January 2025, a representative of the ministry said that in terms of structure, the draft law proposed to be revised includes 9 chapters and 47 articles (3 articles less than draft 5 submitted to the National Assembly at the 8th session).

In the draft report on receiving and revising the bill, it said that regarding the salary and allowance policy for teachers, the bill has revised the regulations on the salary table of teachers in public educational institutions to ensure that teachers' salaries are ranked highest in the administrative career salary scale system.

Teachers are entitled to preferential professional allowances and other allowances depending on the nature of the work and the prescribed region.

At the same time, the Government is assigned to specify in detail policies and regimes on salaries and allowances for teachers.

In addition, the bill also adjusts and eliminates the category of ethnic minority teachers who are naturally entitled to higher salaries and allowances.

Stipulating that some subjects such as preschool teachers, teachers working in particularly difficult areas, teachers implementing inclusive education and teachers in some specific fields and occupations are entitled to higher salaries and allowances. The level of higher salaries and allowances will be specified in detail in the document guiding the implementation of the law... In addition, the bill also adjusts many other contents...

This bill is expected to continue to be submitted to the National Assembly for consideration and approval at the 9th session (May 2025).

Proposal to increase support for social insurance participants

Vietnam Social Security is proposing to increase support for voluntary social insurance participants and it is necessary to stipulate the highest level of support for ethnic minorities living in areas with difficult socio-economic conditions, people living in particularly difficult areas or island communes and island districts. The maximum support period is 15 years.

Specifically, the minimum support level of 70% applies to ethnic minorities living in areas with difficult conditions, people living in especially difficult areas or island communes and island districts.

Minimum 60% for poor households. Minimum 50% for near-poor households. Minimum 40% for other subjects.

In the long term, there needs to be a roadmap to increase the level of budget support, for example, from 2026 onwards, every 2 years it will increase by 5% to reach the following levels: 90% for ethnic minorities living in areas with difficult conditions, people living in particularly difficult areas or island communes and island districts.

Next is for people in poor households, near-poor households, and other subjects at 80%, 70%, and 60% respectively.

Encourage agencies, organizations and individuals to support social insurance contributions for voluntary participants. Based on actual conditions and state budget capacity from time to time, the Government will consider increasing contributions support for voluntary participants accordingly.

The support period depends on the voluntary participation period but not more than 15 years (180 months).

USD price 'skyrockets' again

The State Bank announced the central exchange rate on February 6 at 24,425 VND/USD, up 30 VND compared to the previous session. With a 5% amplitude, banks are allowed to trade at the highest price of 25,646 VND/USD, the lowest price of 23,204 VND/USD.

At commercial banks, the USD transaction price was adjusted to increase sharply. Accordingly, Vietcombank increased by 110 VND in both buying and selling prices, the two-way listed prices were 25,060 - 25,450 VND/USD respectively.

Surveys at many other banks showed that the buying and selling prices of USD were also adjusted to increase from 120 VND to more than 200 VND per USD.

In the unofficial market, the USD exchange rate also increased "dizzily". Compared to the previous session, the USD buying and selling prices both increased by 160 VND, currently at 25,610 - 25,710 VND/USD.

In the world market, the USD Index (DXY) continued to increase by 0.33%, to nearly 108 points, after cooling down for several sessions.

58,300 businesses withdrew from the market at the beginning of the year

News from the General Statistics Office, the General Statistics Office has just announced economic data for January 2025. The report shows that the whole country has nearly 10,700 newly established enterprises, an increase of 6.6% compared to the previous month and a decrease of 30.3% compared to the same period last year.

Besides, the whole country has nearly 22,800 enterprises returning to operation, 2.6 times higher than in December 2024 and an increase of 65.2% over the same period in 2024.

The above figure brings the total number of newly established and re-operating enterprises in January 2025 to more than 33,400, an increase of 15% over the same period last year.

Also in January 2025, 52,800 enterprises registered to temporarily suspend business for a period of time, an increase of 20.2% over the same period last year;

Nearly 3,500 enterprises stopped operating pending dissolution procedures, down 55.2%; 2,021 enterprises completed dissolution procedures, down 8.3%.

The number of enterprises withdrawing from the market was 58,300, an increase of 8.1% over the same period last year.

A series of stock funds withdraw cash

In a newly published report by Fiingroup, up to 22/31 open-ended funds investing in Vietnamese stocks reduced their cash ratio in December 2024.

Notably, the Vietnam Selective Equity Fund (VFMVSF) saw its cash ratio drop sharply to 8.6% (from 11.4% in November).

This is the fund with the largest net asset size to reduce its cash ratio in the past 6 months.

At the end of 2024, VFMVSF fund has total net assets of more than VND 7,800 billion.

In addition, VinaCapital Market Access Equity Fund (VESAF) and VinaCapital Modern Economic Equity Fund (VMEEF), with total net assets of more than VND4,000 billion, have reduced cash holdings for the second consecutive month.

The group of 'diamond tycoons' has the biggest tax debt in Nghe An

Nghe An Provincial Tax Department recently published a list of cases with outstanding tax debts and other state budget revenues as of January 2025.

Accordingly, the updated list includes 54 enterprises in Nghe An province that owe taxes and other state budget revenues totaling more than VND1,277 billion.

In particular, the leader is Thien Minh Duc Group Joint Stock Company located at 2A Le Mao Street, Vinh City, Nghe An with a tax debt of more than 1,074 billion VND.

The above tax debt level of Thien Minh Duc Group is very different from other enterprises in the next position. The second largest tax debt in the list is 482 Joint Stock Company with more than 27 billion VND.

The three founding shareholders of Thien Minh Duc, according to the most recent list of capital contributions registered with the Nghe An Provincial Business Registration Office, include Ms. Chu Thi Thanh, the company's chairwoman, with VND1,560 billion, equivalent to 77.15% of capital.

Next, Mr. Vuong Dinh Quan contributed 1.5 billion VND, equivalent to 0.08% ownership of shares of Thien Minh Duc Group.

Finally, Mr. Chu Dang Khoa - Ms. Thanh's son - contributed 22.77% of the capital, equivalent to 460.5 billion VND. Mr. Khoa, born in 1982, is Ms. Thanh's son and is often called the "diamond tycoon" because he lived in South Africa and traded diamonds.

Do not organize festivals indiscriminately, causing waste of time and money.

The Ministry of Culture, Sports and Tourism has just issued an official dispatch on ensuring the implementation of a civilized, safe and economical lifestyle in festival activities after the Lunar New Year and the Spring Festival in 2025.

The document requires festival organizers in localities to organize festivals to ensure security, order, safety, and economy, in accordance with civilized lifestyle, cultural traditions of the nation, and good customs and practices of each locality.

Note, do not organize festivals indiscriminately, causing waste of time and money of the people, society and the State; review service areas to ensure that they do not encroach on relic grounds; implement measures to ensure security, order, river safety, fire prevention and public hygiene.

Along with that, step up propaganda, mobilization, raise awareness and responsibility of all levels, sectors, localities, people and tourists, especially cadres, civil servants, public employees, party members must strictly implement legal regulations on organizing and participating in festivals; mobilize people not to burn votive papers and votive paper indiscriminately, causing waste and expense, ensuring safety, saving, protecting the environment, and preventing fires and explosions.

At the same time, strengthen the organization of propaganda activities about the origin of festivals, relics and characters worshiped and honored; about the value and true meaning of traditional rituals in festival activities; inspect, check and supervise before, during and after organizing festivals; promptly prevent and strictly handle violations in festival activities, especially acts of taking advantage of relics, festivals and beliefs for personal gain, superstitious activities, gambling, etc.