SIGN UP NOW FOR A SPECIAL WELCOME GIFT OF 500 ASIA MILES!
What's more, earn an extra 500 Asia Miles when you book a ticket by 30 December 2023 and travel by 31 December 2023. Plus, enjoy 500 more for Greater Bay Area bookings!
VIETNAM ATTRACTIVE TO U.S., EUROPEAN INVESTORS AS ECONOMIC ALLURE GROWS
Ivan Alver, co-founder of Global M&A Partners (GMAP), highlighted this trend on the sidelines of the GMAP conference organized on November 13 by RECOF Vietnam, an international M&A consulting firm. GMAP is a global alliance of 30 M&A firms covering 50 countries and territories across the Americas, Europe, and Asia Pacific.
ELECTRICITY CONSUMPTION FORECAST TO RISE BY 7% THIS MONTH
The average daily electricity consumption is projected to reach 763.5 million kWh in November, up by 7.09% versus the same period last year, according to Vietnam Electricity Group (EVN). EVN said that the entire power system generated a total of 24.28 billion kWh in October, an 11.3% year-on-year increase.
STOCK MARKET REBOUNDS AS BANKING, MINING, AND SECURITIES STOCKS FUEL RECOVERY
Banking stocks gained ground with most of the stocks in the basket rising, including Vietinbank (CTG), Asia Commercial Bank (ACB), Tiên Phong Bank (TPB), National Commercial Joint Stock Bank (NVB), Vietcombank (VCB), Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Techcombank (TCB), Sacombank (STB) and VPBank (VPB).
ENTERPRISES CONTINUE TO FIGHT FINANCIAL DIFFICULTIES
The General Statistics Office (GSO) reported that in the first 10 months of this year, Vietnam’s total state budget revenue sat at $59 billion, down 9.2 per cent on-year. Domestic revenues are estimated to stand at nearly $48.84 billion, down 5.9 per cent on-year. The nine-month reduction rate was only 3.2 per cent on-year – meaning enterprises are facing mounting problems.
LENDING TO REAL ESTATE INVESTORS SURGES
Lending to real estate developers had increased by over 6% in the year to September, while outstanding loans to real estate trading had surged more than 20%. The State Bank of Vietnam (SBV) announced this information prior to the commencement of a webinar on the implementation of the prime minister’s official dispatch to remove obstacles in the real estate market, which was held yesterday.
CONTINUED TAX AND FEE CUTS TO PROMOTE ECONOMIC GROWTH
In the spirit of accompanying businesses and people to overcome difficulties to recover and develop the economy, this year the Ministry of Finance (MoF) has continued to submit to competent authorities and promulgate according to its authority policies on exemption, reduction and extension of taxes, fees and charges.
ENTERPRISES CONTINUE TO FIGHT FINANCIAL DIFFICULTIES
The General Statistics Office (GSO) reported that in the first 10 months of this year, Vietnam’s total state budget revenue sat at $59 billion, down 9.2 per cent on-year. Domestic revenues are estimated to stand at nearly $48.84 billion, down 5.9 per cent on-year. The nine-month reduction rate was only 3.2 per cent on-year – meaning enterprises are facing mounting problems.
