Vietnam wants to sell electricity to Singapore, deal with the case of the whole family being the boss

- Vietnam wants to sell clean electricity to Singapore

Minister of Planning and Investment Nguyen Chi Dung said that many localities in Vietnam are interested in exporting renewable energy to Singapore. The energy sector is a very important new pillar of cooperation added in the Framework Agreement connecting the two economies of Vietnam and Singapore with great potential for cooperation. (See more)

- Ministry of Industry and Trade : Private sector is allowed to invest in transmission, renewable electricity must negotiate prices

The Ministry of Industry and Trade affirmed that the Electricity Law does not stipulate the scope of state monopoly in investment in the transmission grid, renewable energy projects will have to negotiate prices with EVN. This viewpoint was clearly stated by the Ministry of Industry and Trade when responding to comments in the summary of comments and acceptance, explanation for the proposal to build the Electricity Law (amended) sent to the Ministry of Justice . (See more)

- Imported LNG price is 1.5 times more expensive than domestic gas, EVN worries about financial balance

In a recent report sent to the Ministry of Industry and Trade, Vietnam Electricity (EVN) pointed out the difficulties when many domestic gas turbine plants will have to use additional imported LNG fuel in the near future. According to EVN's calculations, the price of LNG gas arriving in Vietnam is 1.5 times higher than the domestic gas price, leading to an increase in the cost of power generation for plants and electricity purchase from EVN in the context of difficult financial balance. (See more)

- Vietnam exported 5.35 million tons of rice

According to the latest statistics from the General Department of Customs, by August 15, our country had exported 5.35 million tons of rice, earning 2.88 billion USD. According to calculations from the Ministry of Agriculture and Rural Development, in 2023, our country could export about 7.5-8 million tons of rice. Excluding the 5.35 million tons of rice that have been exported, Vietnam has about 2.15-2.65 million tons of rice of all kinds to export from now until the end of the year. (See more)

- In 8 months, the number of newly established enterprises increased to the highest level ever

In the first 8 months of 2023, the number of newly established enterprises was 103,658. According to the Department of Business Registration Management, this is the highest level in the first 8 months of the year so far. (See more)

- Foreign investment capital in 8 months reached more than 18 billion USD

Data from the Foreign Investment Agency (Ministry of Planning and Investment) shows that as of August 20, the total registered foreign direct investment (FDI) in Vietnam reached nearly 18.15 billion USD, up 8.2% over the same period in 2022. Of which, Singapore leads with a total investment of more than 3.83 billion USD. (See more)

- PG Bank convenes extraordinary meeting, wants to change bank name

Petrolimex Joint Stock Commercial Bank (PG Bank) has just announced the convening of an extraordinary shareholders' meeting on October 23. The meeting will discuss personnel restructuring; increasing charter capital; changing the trade name, changing the head office location and restructuring plan associated with bad debt settlement in the period 2021-2025 along with some other contents (according to Dan Tri).

- Wife, children, and brother of the Chairman of the Board of Directors all work as bosses: Department of Home Affairs requests review of violations

Thanh Hoa Department of Home Affairs has requested to review the collective and individuals who committed violations related to the appointment of many relatives of the Chairman of the Board of Directors of Song Chu Company to key positions. (See more)

- Thousands of tons of papaya cannot be sold: Unexpectedly sold at double the price

After the company compensated papaya farmers in Nghe An 225 million VND/ha for not being able to purchase the product, surprisingly, the price of papaya doubled in the past week. (See more)

- Late payment of more than 38 billion in taxes, female director suspended from leaving the country for 3 years

A garment company in Ho Chi Minh City is currently overdue in paying more than VND38 billion in taxes. As a result, the company's female director has been temporarily suspended from leaving the country until August 2026. Regarding tax arrears, in the first 6-month report, the Ho Chi Minh City Tax Department said that the total tax arrears in the area as of June 30, 2023 was VND53,022 billion, an increase of 16.6% compared to December 31, 2022, equivalent to VND7,565 billion. (See more)

- Singer Khanh Phuong's wife's company withdraws all capital from Song Da 1.01

Amidst the turmoil of hundreds of investors demanding money, Song Da Nhat Nam Group Joint Stock Company, chaired by Ms. Vu Thi Thuy (singer Khanh Phuong's wife), announced that it had divested all its capital from Song Da 1.01 Joint Stock Company (according to Tien Phong).

On the stock market , on August 28, the VN-Index increased by 18.35 points to 1,201.72 points. Notably, in the VN30 group, no stocks decreased in price, while 28 stocks increased in price.

Gasoline prices on the world market today, August 28, increased due to limited supply. Last week, world oil prices recorded the second consecutive week of decline.

The price of SJC gold bars increased quite strongly today, up to 150 thousand VND/tael for buying. Meanwhile, the price of gold rings tended to decrease.

The free USD price today increased sharply, up to 210 VND for buying. The USD price at banks also increased sharply, exceeding 24,200 VND, the highest level since the beginning of the year. The international USD price remained unchanged.

Interest rates on August 28 witnessed a series of banks reducing their deposit interest rates. After OceanBank and NCB both adjusted their rates down, there are now only 3 banks maintaining the interest rate of 7%/year.

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