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MoF proposes cuts to taxes on imported gasoline
Banking & Finance

MoF proposes cuts to taxes on imported gasoline

The Ministry of Finance (MoF) has proposed the government reduce import tax rates on gasoline from most favored nation (MFN) sources from 20 per cent to 10 per cent in order to diversify supply and cut prices. For oil, MoF has proposed continuing with the current MFN rate of 7 per cent.
Banking & Finance

SBV withdraws $8.5bln

The State Bank of Vietnam (SBV) has net withdrawn nearly VND200 trillion ($8.5 billion) through the open market treasury bill channel in recent times. It also withdraws money through foreign currency sales. Viet Dragon Securities (VDSC) estimates that, in a bid to prevent the devaluation of the VND, the central bank has sold about $13 billion since the beginning of the year.
Banking & Finance

Capital flows from ETFs remain strong

While global capital is fleeing from stocks and bonds, Vietnam is still attracting strong inflows through exchange-traded funds (ETFs). In June, total inflows from ETFs reached nearly VND1.7 trillion ($72 million), for nearly VND8.4 trillion ($359 million) since the beginning of the year. According to SSI Research, capital from ETFs and active funds coming to Vietnam are now showing signs of shrinking.
MoF proposes cuts to taxes on imported gasoline

MoF proposes cuts to taxes on imported gasoline

The Ministry of Finance (MoF) has proposed the government reduce import tax rates on gasoline from most favored nation (MFN) sources from 20 per cent to 10 per cent in order to diversify supply and cut prices. For oil, MoF has proposed continuing with the current MFN rate of 7 per cent.
Finance companies seek common database

Finance companies seek common database

The Vietnam Banks Association held a launch ceremony and a first conference of the Consumer Finance Club on July 14. A representative from the Shinhan Finance Company told the gathering that finance companies need a common database to implement fraud prevention measures.
Debt trading market needed to tackle bad debts

Debt trading market needed to tackle bad debts

Speaking at a dialogue entitled “Improving the law on bad debts after the pilot of Resolution 42 ends”, organized by Vietnam Economic Times / VnEconomy, analysts acknowledged that there are many shortcomings in the process of property management. They recommended building a proper debt trading market that buys and sells both bad debts and regular debts.
SBV withdraws $8.5bln

SBV withdraws $8.5bln

The State Bank of Vietnam (SBV) has net withdrawn nearly VND200 trillion ($8.5 billion) through the open market treasury bill channel in recent times. It also withdraws money through foreign currency sales. Viet Dragon Securities (VDSC) estimates that, in a bid to prevent the devaluation of the VND, the central bank has sold about $13 billion since the beginning of the year.
Capital flows from ETFs remain strong

Capital flows from ETFs remain strong

While global capital is fleeing from stocks and bonds, Vietnam is still attracting strong inflows through exchange-traded funds (ETFs). In June, total inflows from ETFs reached nearly VND1.7 trillion ($72 million), for nearly VND8.4 trillion ($359 million) since the beginning of the year. According to SSI Research, capital from ETFs and active funds coming to Vietnam are now showing signs of shrinking.
Impact of interest rate support to vary

Impact of interest rate support to vary

According to KB Securities Vietnam (KBSV), in the short term, the 2 per cent interest rate support package will provide psychological benefits in the context of the stock market experiencing much negativity in recent times. In the medium and long terms, the impact will depend on the effectiveness of the package. Banking is one industry that will benefit.

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