BANKS’ BOND BUYBACKS MIGHT AFFECT CREDIT GROWTH IN H2 2023
Many banks have been stepping up bond buybacks before maturity, but experts are concerned the work can affect the banks’ ability to supply capital for the economy and boost credit growth in the remaining months of this year.
DIVERGENCE IN PROFIT FORECASTS LIKELY HEADING INTO 2024
In its report released last week on the banking industry, Vietcombank Securities (VCBS) projected that the pre-tax profit of the industry will witness a growth of approximately 10 per cent in 2023. However, this growth rate is notably lower than the average growth rate of nearly 35 per cent observed in the previous year.
TÂY NINH PROVINCE SEEKS WAY TO PROMOTE SOCIO-ECONOMIC DEVELOPMENT
To improve transport connectivity with neighbours such as Bình Dương and Long An provinces and HCM City, it plans to invest in key projects such as the 57km Bàu Bàng (Bình Dương) – Mộc Bài (Tây Ninh) rail link and upgrading and widening Road DT789.
PROPERTY-RELATED RISKS IN VIETNAM DECREASING
Fitch Ratings generally views the authorities' commitment to combating the emerging property-financing bubble as a positive factor for financial stability, although a lax regulatory approach is likely to have contributed to the prior rise in non-compliant underwriting practices among some developers' bond issuers over 2018–2021.
VIETNAM BECOMES PREFERRED INVESTMENT DESTINATION FOR JAPANESE CORPORATIONS
Matsumoto revealed the findings of JETRO's annual survey, which queries Japanese companies about their expansion and investment aspirations. Until 2020, the dominant investment focus had been China. However, a trend shift occurred in 2021, with Vietnam outstripping China as the favoured destination for Japanese firms.
FDI FLOWS INTO VIETNAM FORECAST TO INCREASE IN H2: EXPERTS
The flows of foreign direct investment (FDI) into Vietnam are forecast to increase in the second half of the year as the downturn has been improved in recent months, experts have said.
NUMBER OF NEW BUSINESSES HITS RECORD HIGH IN JUNE
Vietnam saw a record-high number of new business registrations, including those resuming operations, in June, according to the Department for Business Registration Management under the Ministry of Planning and Investment.
FOREIGN SUPPLIERS PAY US$315 MLN TAX
On March 21, 2022, the General Department of Taxation launched an electronic portal for foreign suppliers (Etaxvn.gdt.gov.vn). After more than one year of operation, 52 foreign suppliers have joined this portal to pay their taxes. Some of them include Google, Meta, Apple, Netflix and TikTok.
