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December 27, 2023 news
VN-Index closes down, foreign traders net-buy US$4.7 million, December 27
The VN-Index has closed down .26 points or .02 percent to finish the day at 1,121.99. There was, however, a welcome 360 by foreign traders who net-bought into the market to the tune of US$4.7 million. This was after 20 consecutive trading sessions in which the net-sold a total of
Vietnam issues draft decree re: global minimum tax support fund
Vietnam’s Ministry of Planning and Investment has released a draft decree outlining the establishment of a support fund to compensate foreign firms subjected to the Global Minimum Tax initiative, The Investor is reporting. Key points The fund will support businesses making high-tech goods or applying advanced technology in their operations
Lack of liquidity on HoSE turning-off investors: State media
A low level of liquidity on the Ho Chi Minh City Stock Exchange (HoSE) is making investors “increasingly concerned and hesitant in making investment decisions”, Vietnam News is reporting. Key points; Average total value of trades made in a day is at VND 13 trillion (US$533 million); This is down
Vietnam expecting bad debt surge mid-2024 on change to debt-restructuring regs
Vietnam’s banks are expecting a surge of bad debts when a moratorium on outstanding debt comes to an end in June of next year, Vietnam News is reporting. Key points: Bad debt at the end of Q3 2023 was 196.75 trillion (US$81 billion) up 61 per cent compared to Q2;
Vietnam PM laments foreign content dominating local film, television
The Prime Minister of Vietnam, Pham Minh Chinh, told a conference last week it was ‘gut-wrenching seeing foreign films on TV every time I turn it on’, VN Express is reporting. The PM said 70 percent of films on TV and at the movies are foreign (no primary source cited);
Vietnam tourism sector hits targets, but still trailing regional peers
Vietnam has received 12.5 million international tourists this year, reaching a target set by the government at the start of the year, but well below pre-COVID levels, VN Express is reporting. Key points The tourism sector recorded revenue of VND 672 trillion (US$27.6 billion); The sector has recovered to 44
Draft decree on Vietnam rooftop solar removes feed-in-tariffs altogether
A dossier proposing a decree on rooftop solar power development, put forward by Vietnam’s Ministry of Industry and Trade, has suggested removing feed-in-tariffs for excess power fed into the national grid, Vietnam Net is reporting. Key points: MoIT says this is because there is no legal framework for selling excess