BANK CAPITAL CONTRIBUTION NEEDS INVESTIGATION TO PREVENT CROSS-OWNERSHIP
It is necessary to investigate the investment and capital contribution of individuals or economic organisations related big bosses in the banking sector to prevent cross-ownership and manipulative ownership in banks, experts said.
VAT CUT BY 2% TO CONTINUE FROM JANUARY TO JUNE 2025
The 15th National Assembly approved an extension of the 2% value-added tax (VAT) reduction. The reduction applies to specific goods and services listed in Point a, Section 1.1, Clause 1, Article 3 of Resolution No. 43 on fiscal and monetary policies to support the Socio-Economic Recovery and Development Programme. The extended policy will be effective from January 1, 2025 to June 30, 2025.
STOCK MARKET SURGES, VN-INDEX EDGES CLOSER TO THE 1,300-POINT MILESTONE
Liquidity surged, with average daily matched orders reaching a 20-week high. The HoSE recorded an average daily trading volume of 628 million shares, up nearly 36 per cent from the previous week, and an average daily trading value of VNĐ16.03 trillion (US$693.7 million), representing a 32 per cent increase.
FROM 2026, SMALL BUSINESSES WITH REVENUES UNDER VNĐ200 MILLION WILL BE EXEMPT FROM VAT
Effective January 1, 2026, a new regulation approved by the National Assembly (NA) on Tuesday will exempt individuals and household businesses with annual revenues below VNĐ200 million (approximately US$7,870) from value-added tax (VAT).
CENTRAL BANK ISSUES NEW DECISIONS ON DEPOSIT INTEREST RATES
The other holds that the maximum interest rate for Vietnamese đồng-denominated deposits with terms of less than one month of organisations and individuals at credit institutions and foreign bank branches is 0.5 per cent per year. Additionally the maximum interest rate applied to deposits with terms from one month to less than six months is 4.75 per cent per year.
MONETARY AND CREDIT POLICIES SUPPORTING EXPORTERS
Loosening monetary policy and credit incentive packages are aimed at easing exchange rate pressures and supporting exporters during the festive period and year ahead. At the National Assembly session last week addressing plans for economic and social development in 2025, lawmakers proposed loosening monetary policies to support specific sectors, including export enterprises.
NEW POLICY DRAFTED TO HELP NON-BANK CREDIT INSTITUTIONS DEVELOP FURTHER
The draft circular regulates filings, procedures and steps for granting establishment and operation licences to credit institutions in cases that commercial banks contribute capital or purchase shares of credit institutions, which causes a change in the legal form of credit institutions. The SBV will grant the establishment and operation licences to credit institutions in the cases.
MONETARY POLICY FLEXIBLE AND STABLE
Following four consecutive sessions of treasury bill issuance, interbank interest rates have rebounded. By October 23, overnight VND rates were at 3.83 per cent, while the one-week rate reached 3.99 per cent, an increase of 1.1 per cent and 1.03 per cent from the previous week.
