NEARLY 51,400 FIRMS EXIT MARKET IN JAN-FEB
In February, over 3,800 businesses temporarily ceased their operations, dipping by 89% month-on-month but rising by 9.7% year-on-year. More than 2,630 firms were awaiting dissolution, up 37.5% year-on-year, and nearly 1,200 enterprises completed disbandment procedures, down 5.4% against the year-ago period.
FEBRUARY’S CPI UP 0.45 PER CENT DUE TO FUEL AND HOUSING PRICE HIKE
February’s consumer price index (CPI) increased by 0.45 per cent over January, driven by higher fuel and housing prices after the Tết (Lunar New Year) holiday, data from the General Statistics Office (GSO) on Tuesday showed.
FDI INFLOWS DROP SIGNIFICANTLY ON-YEAR
The total foreign direct investment (FDI) inflows in the first two months of 2023 fell by 38 per cent on-year, while FDI disbursement also declined by almost 5 per cent. According to the Ministry of Planning and Investment's Foreign Investment Agency (FIA), the total FDI in the first two months of 2023 stood at $3.1 billion, equivalent to only 62 per cent of the same period in 2022.
COMPANIES COME UP WITH BIG M&A PLANS FROM EARLY IN THE YEAR
One of the companies leading the charge is Vietnam Container Shipping JSC (Viconship), which will hold its annual shareholders’ meeting on March 10, earlier than usual to seek shareholders’s approval for its capital hike plan. It plans to issue 121 million shares to existing shareholders at the ratio of 1:1 to raise over VNĐ1.2 trillion and double charter capital to VNĐ2.25 trillion (US$95.3 million) to fund its ambitious M&A strategy.
VIETNAM TENDERS DAILY- FEBRUARY 24, 2023
1. Repairing materials supply
2. Grinding aid additives supply
3. Metering valve supply and installation
4. Surface cleaning materials supply
5. Equipment and materials supply
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BANK RACE IN ATTRACTING DEMAND DEPOSITS COOLS DOWN
The race to lure demand deposits, or current account savings account (CASA), among banks seems to be decelerating as it is more difficult for banks to attract the cheap capital source in the context of high interest rates on term savings.
GOVERNMENT LAUNCHES ACTION PLAN ON HANOI DEVELOPMENT
The city is expected to extensively and intensively integrate into the world, have high competitiveness compared to others in the region and the world, and boast a development level comparable to that of capital cities of developed countries in the region and the world.
THAI LARGEST RETAILER TO POUR OVER 1.4 BILLION USD IN VIETNAM
Central Retail Corporation (CRC), the largest retailer of Thailand, has announced its biggest investment in Vietnam at 50 billion THB (1.45 billion USD) in the 2023-2027 period to accelerate its market presence in the country.
