Banking & Finance

While the majority of economists support the need to tax houses and landed property as soon as possible, the Ministry of Finance (MoF) has said there is currently no policy to develop a draft law on taxing property. In 2018, the ministry proposed developing a Law on Property Tax, but encountered many conflicting opinions.

“Billion-dollar” investments were of huge interest to foreign investment funds in Vietnam’s stock market in 2021, but 2022 is a more difficult situation, with many funds facing losses, some heavy.

Vietnam’s foreign exchange reserves have now increased to over $109.9 billion, so in order to renovate management, the State Bank of Vietnam (SBV) plans to establish the State Foreign Exchange Reserve Management Department, based on reorganizing and adjusting the functions and tasks of its Foreign Exchange Management Department and Central Banking Department.

The State Treasury mobilized more than VND23 trillion ($1 billion) worth of government bonds in January and VND9.38 trillion ($410 million) in February. By the end of February, it had therefore completed only 22 per cent of the plan to issue VND105 trillion ($4.6 billion) worth of government bonds in the first quarter of 2022.

Figures from the General Department of Vietnam Customs show that the US imports the most textile products from Vietnam and is also the largest market for Vietnam’s wood and wooden products. Textiles and wood are now among the groups with the largest number of stocks and attract the most attention from stock market investors.

Production and business activities were halted due to Covid-19 last year and deposit interest rates were low, so the deposit balance of corporate customers far exceeded that of individual customers. According to analysts, this abnormal situation will soon return to normal as Vietnam’s economy recovers.