Commercial banks told to send weekly reports on interest rates
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, has written to commercial banks ordering them to report on interest rate movements on a weekly basis. The SBV said banks would have to send reports on deposit and lending rates to the Monetary Policy Department prior to 11 a.m.
PM calls for measures to stabilize volatile bond market
HCMC – Prime Minister Pham Minh Chinh has signed an official dispatch ordering the Ministry of Finance to take prompt action to stabilize the volatile corporate bond market. The market for corporate bonds, especially those issued via private placement, is in a crisis and there seems to be no way
HOSE lifts restriction on OGC stock
HCMC – The Hochiminh Stock Exchange (HOSE) will switch the OGC shares of Ocean Group Joint Stock Company from being under trading restriction to being under supervision from December 14, as the firm managed to address issues leading to the trading restriction earlier. HOSE kept the OGC stock on
Initial margin for derivatives to rise to 17%
HCMC – The Vietnam Securities Depository (VSD) has revised the cap for the initial margin for the VN30 index futures contracts to align with developments on the derivatives market. The VSD yesterday, December 12, raised the initial margin for futures contracts of the VND30 blue-chip index to 17%
HCMC plans to refund investor of suspended BOT project
HCMC – HCMC will refund VND200 billion to the build-operate-transfer (BOT) investor of Tan Ky-Tan Quy bridge for their expenses after the investment form of the project has been changed. This was mentioned in the official dispatch of the HCMC People’s Committee addressed to the municipal People’s
Tri Viet Securities chairman prosecuted over alleged market manipulation
HCMC – Pham Thanh Tung, board chairman of Tri Viet Securities Joint Stock Corporation, has been accused of manipulating the prices of two stocks, BII and TGG, on the local stock market. Ministry of Public Security (MPS) investigators pressed market manipulation charges against the 43-year-old on
Local airlines to add seats for upcoming Tet holiday
HCMC – Soaring travel demand during the upcoming Lunar New Year holiday, or Tet, has prompted local airlines to increase the number of seats between January 6 and February 5 next year. The Vietnam Airlines Group, including Vietnam Airlines, Pacific Airlines and VASCO, has announced its plan to add
VNA resumes air service to Hong Kong
HCMC – Vietnam Airlines (VNA) has reopened regular flights between the capital city of Hanoi and Hong Kong to meet the high travel demand. The national flag carrier will operate two weekly flights on the Hanoi-Hong Kong route on Wednesdays and Sundays. The frequency will be increased to three
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HCMC’s foreign trade exceeds US$100 billion in Jan-Nov
HCMC – HCMC’s foreign trade in the year to November had totaled US$101.6 billion, according to the General Department of Vietnam Customs. The gross regional domestic product of HCMC is expected to grow 9.03% over 2021, way above the target ranging between 6% to 6.5%. The city’s trade performance
Expy project in Danang gets nod
HCMC – The Ministry of Transport has given the nod to the Hoa Lien-Tuy Loan expressway project, which will run across Danang City and is part of the Eastern North-South expressway project, with a total investment of over VND2.1 trillion. Of the total investment sourced from the State budget, over
Vietnam’s auto imports shoot up in November
HCMC – The number of cars imported into Vietnam last month soared sharply, driven by the strong domestic demand. Data from the General Department of Vietnam Customs showed the country imported over 22,700 completely-built-up (CBU) cars worth US$468 million in November, surging by 58.8% in volume
Fuel prices drop to two-year lows
HCMC – Domestic fuel prices were today revised down by VND937-1,661 per liter or kilogram. The reductions sent fuel prices plunging to two-year lows. In an announcement jointly made by the ministries of Industry-Trade and Finance, RON 95-III gasoline now sells for VND21,200 per liter, down
GEG disbands solar energy subsidiary
HCMC – Gia Lai Electricity Joint Stock Company (GEG) has passed a resolution to disband its subsidiary Phong Dien Solar Energy Company, which is headquartered in Hue City, Thua Thien-Hue Province. The Phong Dien solar energy company, founded in 2019, has total charter capital of VND120 billion and
Heineken to invest US$500 million in Vietnam in next 10 years
HCMC – Heineken has invested US$1 billion in Vietnam and will continue to pour US$500 million into Vietnam in the next 10 years, said Heineken CEO Dolf van den Brink. On December 11, Vietnamese Prime Minister Pham Minh Chinh met Brink at the company headquarters in Amsterdam, Netherlands. Chinh
China tightens regulations on agricultural imports
HCMC – China has revised its regulations on agricultural imports, making it harder to sell the products to its market, the Plant Protection Department said. Vietnam now has seven traditional export fruits, comprising mango, dragon fruit, longans, lychees, watermelons, rambutans and jackfruits, and