JAN-AUG STATE BUDGET REVENUE NEARS FULL-YEAR TARGET
State budget revenue totaled over VND1,200 trillion between January and August, meeting over 85% of the full-year target and growing by 19.4% year-on-year, according to a recent report issued by the Ministry of Finance.
Of the total, domestic revenue accounted for VND954 trillion, reaching 81.1% of this year’s target and rising by 16% year-on-year, the local media reported.
CPI IN AUGUST RISES SLIGHTLY
Consumer prices increased due to rising input material costs. Tuition fees for the new school year in some provinces and cities rose again. However, several rounds of fuel price cuts since July have resulted in a slight increase of the CPI in August, said GSO.
M&A IN BANKING INDUSTRY EXPECTED TO STAY HIGH IN H2
According to PricewaterhouseCoopers (PwC), the financial services (FS) industry’s need for digital capabilities, combined with sustained pressure from regulators and disruption from platforms and fintechs, means M&A will continue to be a driver for transformation.
STANDARD CHARTERED EXPECTS VIETNAM’S RECOVERY TO STAY STRONG IN AUGUST
“The recovery may accelerate markedly in H2 as tourism reopens after a two-year closure. That said, rising global oil prices may have negative consequences on the economy,” said Tim Leelahaphan, economist for Thailand and Vietnam at Standard Chartered Bank.
MORE BANKS ALLOWED TO HIKE REGISTERED CAPITAL
HCM City Development Joint Stock Commercial Bank (HDBank), Kien Long Commercial Joint Stock Bank (Kienlongbank) and Nam A Bank (NAB)recently obtained permission from the State Bank of Vietnam (SBV) for hiking their registered capital.
GREEN STANDARDS TOP POLICIES FOR FRESH FOREIGN VENTURES
Vietnam is becoming a destination for environmentally-friendly initiatives that can contribute to the circular economy. However, improvements from various sides will be necessary in order to lure truly sustainable investment.
VCCI CALLS FOR LAND LAW DRAFT REVISION
As the Ministry of Justice is gathering comments on a draft amending the Law on Land, the Vietnam Chamber of Commerce and Industry (VCCI) comments that the draft needs revisions to be legally consistent with the Law on Real Estate Business and Law on Housing.
IMPROVING EFFICIENCY OF NATIONAL SINGLE WINDOW
On August 15, General Director Nguyen Van Can of the General Department of Vietnam Customs (GDC) chaired a meeting on the implementation of the instructions of Permanent Deputy Prime Minister Pham Binh Minh, Chairman of the National Steering Committee on ASEAN Single Window, National Single Window and Trade Facilitation (Committee 1899) concluded at its 8th meeting session on August 5, 2022.
