Notable news: Deputy Prime Minister requests report on 'VICEM's trillion-VND losses'; Ho Chi Minh City cracks down on illegal taxis and unauthorized bus stops; Many banks worry about bad debts after Circular 02 expires...
Passenger buses picking up passengers illegally in the Long K parking lot located on National Highway 13, Hiep Binh Phuoc ward (Thu Duc City) on January 1st - Photo: MINH HOA
Take strong action against illegal taxis and unauthorized bus stops during Tet holiday.
This is a requirement from the Ho Chi Minh City Department of Transportation for all units to ensure traffic safety during the Lunar New Year holiday of the Year of the Snake.
Specifically, the department requested the Ho Chi Minh City Police, district and city police, and Thu Duc City Police to review, strengthen patrol and control forces, and take strong action against the situation of illegal taxis and unauthorized bus stops.
This includes focusing on passenger buses operating in unauthorized locations, causing traffic safety and order issues both inside and outside bus stations. Simultaneously, strict management of activities at "hot spots" such as bus stations, parking lots, train stations, ports, inland waterways, river crossings, ferries, and airports will be implemented.
The Ho Chi Minh City Traffic Police Department also stated that it will instruct its forces to focus on dealing with the 79 illegal bus stops that the Ho Chi Minh City Department of Transport has identified in the city.
The Deputy Prime Minister requested a report on the "VICEM's losses amounting to trillions of VND" case.
The Government Office has just issued document No. 186/VPCP-ĐMDN conveying the directive of Deputy Prime Minister Tran Hong Ha regarding reports that Vietnam Cement Corporation (VICEM) has incurred losses of thousands of billions of VND.
Previously, on December 15, 2024, the press reported: "Cement giant VICEM suffers another trillion dong in losses," reflecting VICEM's situation of incurring losses for the second consecutive year, with consolidated profits in 2024 showing a negative 1,400 billion dong.
Regarding the above issue, Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to take the lead, in coordination with the Ministry of Finance and relevant agencies, in reviewing the matter reflected in the article; clarifying the reasons why VICEM incurred losses of thousands of billions of dong and proposing solutions for the future; and reporting to the Prime Minister before January 15, 2025.
Many banks are worried about bad debts after Circular 02 expires.
In a recently published report, Vis Rating, a credit rating agency owned by Moody's, stated that after Circular 02 expires at the end of 2024, banks will have to record the full cost of credit for restructured loans.
The impact on business results can still be managed for large banks with limited restructured debt. However, a few banks, such as VPB, with significant restructured debt related to large clients and low non-performing loan coverage ratios, will have the highest asset risk.
These banks still face primarily lingering issues in the real estate sector, struggling to improve profitability to meet higher credit costs. The cost of capital is also higher amid increased competition among banks to support credit growth...
Previously, Circular 02 was implemented by the State Bank of Vietnam in May 2023 as a policy tool to support customers in overcoming business and financial difficulties amidst a slowing economy.
Towards the end of the year, credit increased by over 13.8%, while deposits lagged behind.
As of December 31, 2024, the average trading value on the stock market reached 21,008 billion VND per session - Photo: QUANG DINH
According to the socio-economic report for the fourth quarter of 2024 published by the General Statistics Office, as of December 25, 2024, credit growth in the economy reached 13.82% (compared to 11.48% in the same period of the previous year).
Overall, total means of payment increased by 9.42% compared to the end of 2023, while the increase in the same period of 2023 was 10.34%; while capital mobilization by credit institutions increased by 9.06%, compared to an increase of 11.19% in the same period of the previous year.
The report also indicated that total insurance premium revenue in the fourth quarter of 2024 is estimated to increase by 0.2% compared to the same period last year. For the whole year 2024, total insurance market premium revenue is estimated to reach VND 227,500 billion, a decrease of 0.25% compared to the previous year.
Regarding the stock market, as of December 31, 2024, the average trading value on the stock market reached VND 21,008 billion per session, an increase of 19.5% compared to the average in 2023; the average trading value on the bond market reached VND 11,802 billion per session, an increase of 81.1%; and the average trading volume on the derivatives market reached 211,346 contracts per session, a decrease of 10.2%.
Strengthening food safety inspections during Tet holiday.
People in Ho Chi Minh City shopping for Tet (Lunar New Year) - Photo: Phuong Quyen
The Minister of Health has just signed a directive to strengthen healthcare services to ensure a safe Lunar New Year celebration in 2025, requiring units to ensure medical examination and treatment services, strengthen food safety inspections, monitor and detect diseases early at border crossings, and prevent drug shortages and price gouging during the Tet holiday.
Specifically, the Ministry of Health requested provinces and cities to establish a central inter-ministerial steering committee on food safety to implement food safety measures during the Lunar New Year; strengthen inter-ministerial inspections and audits to ensure food safety before, during, and after Tet, focusing on product groups that are consumed in large quantities during Tet, food processing villages, provinces with border gates, and major cities.
The Ministry also requested that units ensure medical examination and treatment services during the Tet holiday; the Institutes of Hygiene and Epidemiology and the Pasteur Institute should regularly monitor, analyze, and assess the disease situation, and direct, support, and guide units and localities to strengthen surveillance and early detection of cases at border gates, in the community, and at medical facilities to promptly handle and control the spread of the disease...
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Today we release the Spring 2025 issue of Tuoi Tre Cuoi (Youth Laughter) magazine; we invite you to read it.
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Source: https://tuoitre.vn/tin-tuc-sang-9-1-lam-ro-vu-vicem-lo-ca-nghin-ti-tp-hcm-xu-manh-tay-xe-du-ben-coc-20250108222743127.htm
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