Vietnamplus

Moody's Investors Service has raised ratings of 12 Vietnamese banks following its upgrade of Vietnam's sovereign rating to Ba2 from Ba3.

Ordinary citizens face higher risk in the current stock market environment, said the Ministry of Finance in a recent report released after a number of recent high-profile corporate scandals.

The total State budget collection in the first eight months of this year has been estimated at 1.2 quadrillion VND (51.3 billion USD), equivalent to 85.6% of the annual target, according to the Ministry of Finance.

International experience in public debt management was shared with Vietnam at a workshop held in Hanoi on August 23.

A supervisory delegation of the National Assembly (NA) held a meeting with the Ministry of Finance (MoF) on August 23 to look into the implementation of policies and laws on thrift practice and wastefulness prevention during 2016 - 2021.

The Ministry of Finance (MoF) has issued targets for restructuring banks in a bid to bolster the strength of Vietnam’s financial sector.

Petrol prices were kept unchanged in the latest adjustment made on August 22 by the Ministries of Industry and Trade, and Finance, after five consecutive downward adjustments.

Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the latest information released by the Ministry of Finance.

The Ministry of Finance sets to develop the foundation for a modern and transparent digital financial ecosystem based on big data and open data by 2025, according to the ministry’s digital transformation plan to 2025 with orientation to 2030 newly-signed by Minister Ho Duc Phoc.

Minister of Finance Ho Duc Phoc has responded in writing to a NA delegate of Lam Dong province on issues related to the management of capital, stock and bond markets.

The central city of Da Nang and the Ministry of Finance once again topped the Digital Transformation Index (DTI) rankings for 2021, the Ministry of Information and Telecommunications announced at the third meeting of the National Committee on Digital Transformation on August 8.

Prime Minister Pham Minh Chinh on August 3 urged stronger determination, efforts and actions to disburse public investment as part of the Government’s main priorities.

A working delegation of the Ministry of Finance led by Minister Ho Duc Phoc is paying a working visit to Germany from July 9-13, with the aim of exchanging experience in public finance management towards green growth, and boosting bilateral cooperation in finance.

The Ministry of Finance needs to coordinate with other agencies to research and report a plan on gasoline tax reduction to the Government, the Prime Minister and competent agencies for approval, Deputy Prime Minister Le Minh Khai, head of the National Financial and Monetary Policy Advisory Council, said on July 12.

Measures taken to bring down petrol prices could reduce State budget collection by 32.5 trillion VND (1.4 billion USD) this year, according to Deputy Minister of Finance Nguyen Duc Chi.

The Ministry of Finance announced on June 30 that it has proposed the Prime Minister to consider a plan to reduce special consumption and value-added taxes on gasoline.

The Ministry of Finance (MoF)’s proposal to extend the deadline for excise tax payment for locally manufactured and assemble cars will help businesses get more financial resources and restore their production, according to Dinh Trong Thinh, a senior lecturer at the Finance Institute.

The Ministry of Construction (MoC) has proposed controlling the bond issuance activities of real estate enterprises but not tightening investment in real estate bonds, Nguyen Manh Khoi, Deputy Director of MoC's Housing and Market Management Department, said at the monthly press conference held on June 13.

Vietnam was placed 68th out of the120 countries in the Open Budget Survey (OBS) 2021 recently released by the International Budget Partnership (IBP), up nine spots against 2019 and 23 against 2017, the Ministry of Finance announced on June 9.

Organisations and individuals buying, selling and transferring real estate under two separate prices, meaning that the actual purchase price is lower than that on the notarised contract, is increasingly common and has caused great losses of revenue to the State budget.