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BANKING / FINANCE / INSURANCE / TAX

MARKET DOWN SLIGHTLY ON RISK-OFF SENTIMENT

The market’s breadth was in a negative zone with 262 stocks declining, while 184 stocks inched up. However, liquidity improved compared to the previous session, of which matching value on the southern bourse increased by 1 per cent to over VNĐ10.1 trillion (US$431 million).

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BANKING / FINANCE / INSURANCE / TAX

NEW REGULATIONS ON IMPORTING CARS AND MOTORCYCLES FOR NON-COMMERCIAL PURPOSES

The General Department of Taxation (GDT) recently requested tax departments in centrally-run cities and provinces to enhance tax administration for cars and motorcycles permitted to import or temporarily imported for non-commercial purposes.

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BANKING / FINANCE / INSURANCE / TAX

FINANCE MINISTRY SETS TARGETS FOR BANKING SYSTEM

Ministries and agencies will have to report their results to the MoF’s Department of Banking and Financial Institutions before November 15 every year so the department can compile the results to send them to the SBV before November 30 every year.

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BANKING / FINANCE / INSURANCE / TAX

PEOPLE PREFER BANK DEPOSITS AMID GLOBAL UNCERTAINTIES

Nguyễn Phương Thảo, a salesperson in a Hà Nội-based logistics company, said in the past two years, when the savings interest rate at banks dropped sharply due to the pandemic, she used her idle money to invest in the securities market and got a decent profit.

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BANKING / FINANCE / INSURANCE / TAX

CHEAP CAPITAL SOURCES AT MOST BANKS DECLINE IN Q2

Focusing on increasing CASA – or the proportion of demand deposits out of total deposits – has been one of the top targets of many banks in recent years as it is a cheap capital source that helps banks have low input capital costs. Currently, demand deposits have very low interest rates of only 0.1 per cent per year.

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BANKING / FINANCE / INSURANCE / TAX

INVESTORS HAVE AROUND $3.4B IN SECURITIES ACCOUNTS AT END OF Q2

According to estimates from cafef.vn, at the end of the second quarter, customers’ available balance in securities accounts reached VNĐ80 trillion (US$3.4 billion), a decline of VNĐ20 trillion over the record number at the end of the previous quarter. This is the lowest level since the first quarter of 2021.

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BANKING / FINANCE / INSURANCE / TAX

STANDARDISE BOND MARKET TO ENSURE GROWTH OF STOCK AND REALTY MARKET

The bond market has become an important capital mobilisation channel for enterprises, especially real estate firms. However recent scandals have caused uncertainty, threatening the development of public companies, the Vietnamese stock market and the realty industry.

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BANKING / FINANCE / INSURANCE / TAX

GOVERNMENT LOOKS TO BUILD SAFE, TRANSPARENT, EFFICIENT, SUSTAINABLE CAPITAL MARKET

The Government has issued Resolution No. 86/NQ-CP on the development of a safe, transparent, efficient and sustainable capital market in order to stabilize macro-economy and mobilize resources for socio-economic development.


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