The Ministry of Planning and Investment has proposed withholding investment next year for projects that had been slow to disburse their allocated funding in 2019.
The Indonesian government has expanded the budget deficit to 2.2 percent of the gross domestic products (GDP) followed the potential short fall on tax revenues around 200 trillion Rp (14.29 billion USD).
Thai Minister of Finance Uttama Savanayana has announced that the government plans to launch a tax refund mobile application by the end of this month in a bid to increase tourism spending.
Deputy Prime Minister Vuong Dinh Hue has proposed FWD Insurance of the Pacific Century Group participate in green financial funds for start-up and innovation projects in Vietnam.
Vietnamese Prime Minister Nguyen Xuan Phuc attended the 22ndASEAN Plus Three (China, Japan and the Republic of Korea) Summit in Bangkok, Thailand,on Nov 4 as part of the ongoing 35th ASEAN Summit and related summits.
The State Treasury raised more than 9.65 trillion VND (415.87 million USD) via 15 auctions of Government bonds (G-bonds) at the Hanoi Stock Exchange (HNX) in September.
Budget disbursement of under 50 percent have been seen in 31 ministries and sectors as well as 19 localities, and even less than 30 percent in 18 others.
Over the past 10 years, the interest rates of successfully-issued Government bonds (G-bonds) have decreased significantly, saving thousands of billions of VND for the State budget, contributing to regulate and stabilise the macroeconomy.
The rate of the investment from the non-state sector is on a constant rising trend, from 38.5% in 2001 to over 43% in 2018, marking a nearly 5 percentage point in the total social investment.
The market capitalisation has grown rapidly since 2016, by nearly 70 percent in 2016, 90 percent in 2017 and 28 percent in 2018, about 62.7 percent each year on average during the 2016 – 2018 period.
The bond market continued to grow in the second quarter of 2019, by 2.6 percent from Q1, to 52.9 billion USD, including 48 billion USD worth of G-bonds and 5 billion USD worth of corporate bonds.
Vietnam’s local currency bond market grew 2.6 percent to 52.9 billion USD in the second quarter of this year, after a 0.7 percent expansion in the first quarter.
The State budget’s domestic revenue in the first eight months of 2019 is estimated at 808.8 trillion VND (34.8 billion USD), according to the Ministry of Finance.
The State Treasury raised close to 10.85 trillion VND (466.5 million USD) via 13 auctions of Government bonds (G-bonds) at the Hanoi Stock Exchange (HNX) in August.
Vietnam’s major trading bourse Ho Chi Minh Stock Exchange (HoSE) has reported its pre-tax profit dropped by almost half year-on-year to 200 billion VND (8.6 million USD).
The State Treasury of Vietnam mobilised a total of 1.85 trillion VND (nearly 80 million USD) via auctions of Government bonds at the Hanoi Stock Exchange (HNX) this week.
Maxfield Brown, a representative of Dezan Shira & Associates, has said it is time for foreign investors to pour capital into infrastructure in Vietnam.
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