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.
BIG FOUR BANKS LAUNCH PREFERENTIAL INTEREST RATE LOAN PACKAGES
Accordingly, short-term loans with a term of less than six months until June 30 this year will enjoy preferential interest rates from only 7 per cent per year. The incentive package is applicable to SMEs who borrow from VietinBank for the first time or have not been disbursed any loan within the past six months.
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.
INTELLASIA FINANCE & BUSINESS NEWS - FEBRUARY 28, 2023
1. Promoting non-interest income: the inevitable trend
2. Korean insurer to acquire 75 per cent stake of VNI
3. Seafood exports rebound in the first half of February
4. Real estate market to reheat gradually in 2023, say experts
5. Construction machinery market lures foreign suppliers
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VIETNAM TENDERS DAILY- FEBRUARY 28, 2023
1. Thermomechanical materials supply
2. Screen panels of shale shakers supply
3. Electronic materials supply
4. Mechanical components supply
5. Control equipment supply
----and more news
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.
EXTRA CREDIT ROOM SUGGESTED FOR REAL ESTATE SECTOR
Real estate developers have suggested that the State Bank of Vietnam increases credit room soon to inject capital into the economy and create conditions for property businesses to restructure and develop this year.
