Registered FDI falls, but disbursement up
Vietnam attracted a total of 30.8 billion USD worth of registered foreign direct investment (FDI) as of November 20, a slight decrease of 6.8 percent year-on-year.
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Vietnam attracted a total of 30.8 billion USD worth of registered foreign direct investment (FDI) as of November 20, a slight decrease of 6.8 percent year-on-year.
Corporate income tax levied on small and medium–sized enterprises (SMEs) should be reduced to promote the business development, a solution together with broadening tax base to increase budget revenue from business and production.
The US dollar has appreciated significantly against the Vietnamese dong in the past few days, but local officials and experts believe these hikes won’t affect Vietnam’s economy in any major way.
Prime Minister Nguyen Xuan Phuc has asked the National Financial Supervisory Committee to coordinate with competent ministries and agencies to give proposals to the Government and the PM on major economic issues, especially those regarding the macro economy and financial market supervision.
A gap has opened up between deposit interest rates offered by different categories of banks due to differences in their liquidity, cash demand and status.
As many as 265,106 civil servants will be included in the State payroll this year, a year-on-year decrease of about 4,000, according to a Prime Minister’s decision that takes effect this month.
After gaining positive business performance last year, many banks have planned to hold annual general meetings (AGMs) for 2018 soon.
Many banks have planned to set up more branches and transaction offices in the early days of the new year to seize new business opportunities.
The banking sector’s profits were anticipated to rise significantly in 2017, driven by the handling of bad debts and the recovery of the property sector.
The Housing Development Commercial Joint Stock Bank (HDBank) has been allowed to increase its chartered capital from more than 8.828 trillion VND (392.3 million USD) to 9.908 trillion VND.
The National Financial Supervisory Committee (NFSC) has anticipated that Vietnam's gross domestic product (GDP) in 2017 will be more than 6.7 percent.
Government bonds have recently seen strong foreign buying despite the facts that the USD is expected to continue appreciating and Vietnam has no incentives to attract foreign investment in its bonds.
Since the beginning of this year the shares of many banks have appreciated significantly, with the increases ranging from 8 percent to even 80 percent.
The VND/USD exchange rates saw little changes this morning although the US Federal Reserve (Fed) raised interest rates on June 14 on the confidence in a growing economy and strengthening job market in the world’s biggest economy.
Credit rose 8.54 percent by July 29 against late last year while mobilised capital surged 9.94 percent, the State Bank of Vietnam (SBV) reported August 11.
The Prime Minister has signed a decision to establish a 39-member National Financial and Monetary Policy Consultation Council led by Deputy Prime Minister Vuong Dinh Hue.
A surge of 5.9 billion USD in overseas foreign currency deposits by local commercial banks in the third quarter of last year was normal.
Health activists say special consumption taxes imposed on alcohol, beer and tobacco should be increased to improve community health and tackle the national budget deficit.
