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.
VIETNAM SET TO IMPLEMENT GLOBAL MINIMUM TAX
Vietnam is poised to adopt global minimum tax (GMT) regulations, a move set to impact 122 foreign investment conglomerates and strengthen the country's fiscal framework in line with international standards. Le Quang Manh, chairman of the National Assembly's Finance and Budget Committee, underscored the necessity of Vietnam adopting the GMT guidelines at a meeting on November 10, 2023.
NEW WORLD HOIANA BEACH RESORT LAUNCHES ITS 'SEASONAL WONDERS' CAMPAIGN
Embark on a remarkable journey of seasonal wonders and heartwarming connections with your loved ones during the upcoming joyous festive season at New World Hoiana Beach Resort. As the holiday season draws near, the resort is excited to launch its "Seasonal Wonders" campaign. It offers a delightful blend of delectable cuisines, a cozy atmosphere, excellent service, and local cultural experiences.
Embrace the spirit of togetherness and create cherished memories with us, making this season truly special for you, your family, and friends.
