Large amount of money withdrawn via open market operation
The State Bank of Vietnam withdrew a large amount of money worth 177 trillion VND (7.79 billion USD) via the open market operation and the issue of Treasury bills in the past week.
The central bank has withdrawn 177 trillion VND (7.79 billion USD) via open market operations and the issue of treasury bills in the past week (Photo: baodauthau.vn)
Hanoi (VNA) - The State Bank of Vietnam withdrew a large amount ofmoney worth 177 trillion VND (7.79 billion USD) via the open market operationand the issue of Treasury bills in the past week.
A report from the Saigon Securities Incorporate (SSI) showed that the centralbank issued 14-day T-bills worth 50 trillion VND in the week.
According to the SSI, the withdrawing was made after the central bank had topump a large amount of money to the banking system to support the liquiditybefore Tet (Lunar New Year) when the capital demands surged sharply.
In the past week, interest rates for Vietnamese dong loans of differenttenors also dropped sharply on the inter-bank market.
The overnight rate was quoted at 1.6 percent against 4.45 percent at the end ofprevious week.
The rates for one-week, two-week and three-week loans also stood low at 2 percent,2.9 percent and 3.8 percent against 4.67 percent, 4.73 percent and 4.8 percent atthe end of previous week.
SSI forecast that interest rate on the inter-bank market would continuouslydecline next week.-VNA
The State Bank of Vietnam has targeted keeping interest rate stable in 2017, however, the market’s developments in the first half of January 2017 show that lending rates are suffering from many pressures.
The State Bank of Vietnam (SBV) has announced that it is finalizing a project on restructuring credit organisations and handling bad debt for the 2016-2020 period, to be submitted to the Politburo.
A new circular on lending activities of credit institutions and foreign bank branches is expected to overhaul the regulatory framework applicable to the activities in Vietnam.
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.