Vietnam’s rice prices soar to two-year highs
HCMC – Export prices of Vietnamese rice have surged to two-year highs, offering a bright prospect for the country’s rice export sector this year. The export price of 5% broken rice on February 5 was US$473 per ton, up US$15 per ton month-on-month, while the country’s 25% broken rice increased to
Over VND100,000 billion in taxes proposed for extension
HCMC – The Ministry of Finance is seeking feedback on a draft Government decree on the rescheduling of payments of value added tax (VAT), corporate income tax (CIT) and land rent amounting to over VND100,000 billion. The draft decree, which was prepared by the ministry, proposes granting a
Over 80% of real estate bonds have low creditworthiness: FiinRatings
HCMC – Over 80% of real estate bonds have been issued by unlisted firms that are financially weak and have low transparency, said the credit rating agency FiinRatings. They may financially leverage further in 2023, causing default risk to grow at alarming rates, FiinRatings said in its latest
SBV pumps more money into banking system post Tet
HCMC – The State Bank of Vietnam (SBV) has injected more money into the banking system since the Lunar New Year (Tet) holiday ended more than 10 days ago. The central bank on February 3 bought over VND2.4 trillion worth of seven-day valuable papers with an annual coupon rate of 6%, while draining
Vietnam sets 2023 export target of US$394 billion
HCMC – Vietnam has set a target of exporting goods worth US$393-394 billion in 2023, up by US$22 billion or 6% against last year, said a trade official. It would be challenging to reach this export target as the country’s export sector has been facing issues such as high yet unsustainable export
HCMC plans to expand four roads
HCMC – Four major roads in HCMC’s Go Vap District that are deteriorating, frequently flooded and overwhelmed by a huge traffic volume could be expanded at a total cost of nearly VND5.9 trillion. The government of Go Vap District proposed the road expansion plan to the HCMC People’s Committee at a
Antidumping duties on Chinese cold-rolled steel remain unchanged
HCMC – The Ministry of Industry and Trade has decided to keep in place the antidumping duties on cold-rolled steel coil and sheet imports from China. Vietnam would levy antidumping duties ranging from 4.43% to 25.22% on cold-rolled steel coil and sheet imports from China. The duties, imposed in
State budget revenue from import-export activities drops in January
HCMC – State budget revenue from imports and exports totaled over VND24.8 trillion in January 2023, down 42.3% year-on-year, showed data of the General Department of Vietnam Customs. The fall in January’s State budget revenue is attributed to the week-long Lunar New Year holiday that fell in
Bui Thanh Nhon returns to Novaland as board chairman
HCMC – Bui Thanh Nhon, founder of NovaGroup, has officially come back to the property developer Novaland as chairman and legal representative, according to a press release issued this afternoon, February 3. Nhon’s return to the top post is part of the restructuring project that NovaGroup,
Finance Ministry suggests taxing land and buildings separately
HCMC – The Ministry of Finance has proposed developing a new property tax law to separate the tax on land from that on buildings. Figures showed that tax collection from agriculture and non-agriculture land accounted for 0.24% of total state budget revenue and 0.03% of the country’s gross domestic
Vietnam weighs electricity price hikes in 2023
HCMC – Vietnam is considering hiking electricity tariffs this year as the last adjustment took place almost four years ago while input costs of power generation have soared since. Deputy Minister of Industry and Trade Do Thang Hai said at a press conference yesterday, February 2, that the hike
Vietnam emerges as biggest ASEAN wood products exporter to Australia
HCMC – Vietnam became the biggest ASEAN exporter of wooden products to Australia in November 2022, with US$205.6 million, up 26.4% over the same period last year, according to the Agency of Foreign Trade under the Ministry of Industry and Trade. Australia has prioritized the import of wood frame