Topic: transactions

The Ministry of Information and Communications has said that since its opening on October 30, 2020, more than 661 million transactions have been conducted through the national data exchange platform (NDXP). More than 58 million transactions were conducted in September this year, an average of 1.6 million a day.

Dr. Alex Pham, who holds a Ph.D. in Property Economics, is a Lecturer at Western Sydney University, and is General Director of FINA, said that one of the main reasons for losses of tax revenue in real estate transactions in Vietnam is a lack of transparency. He suggested it could learn from models in neighboring counties such as Thailand, Malaysia, and Indonesia.

A report from the VNDirect Securities Company shows that tight liquidity has been a concern for the banking system in recent times, but the risk to system liquidity is not significant. The efforts of authorities to combat “dollarization” in the economy and increase cashless transactions have brought significant results, while the macroeconomic situation remains stable and the health of the banking system has improved.

The General Department of Taxation has said that the tax sector has promoted the development of digital tax services for taxpayers and seen impressive results. The number of enterprises registering with tax authorities to use digital tax services this year as of September 15 was 861,710, or 99 per cent. Businesses paid taxes through more than 2.75 million digital transactions totaling over VND585.6 trillion ($24.36 billion) and nearly $49 million.

A Savills Q3 2022 real estate market report shows that new supply of apartments for sale in Hanoi rose 235 per cent quarter-on-quarter and 69 per cent year-on-year. In addition to improved supply, apartment transactions also grew positively, reaching 3,605, up 61 per cent quarter-on-quarter and 49 per cent year-on-year. Class B apartment transactions accounted for 64 per cent.

The Hanoi Stock Exchange (HNX) has reported that the VN30-Index lost 11.48 per cent in September compared to August, but trading on the derivatives market in the month rebounded after a sharp decline in August. At the end of September, the number of derivative trading accounts stood at more than 1.1 million, up 1.88 per cent compared to the previous month. The proportion of foreign investor transactions accounted for 1.66 per cent of the total, down against August.

The Ho Chi Minh City Real Estate Association (HoREA) has made a number of proposals to the National Assembly’s Standing Committee regarding amendments to the Land Law, including that it not be compulsory to conduct real estate transactions through a trading floor because this would create “privileges” for the floor and “deprive” project investors of their business autonomy.

Positive inner-strength will be a driving force supporting the stock market in September, according to Rong Viet Securities (VDSC). It said that Vietnam’s macro data is stronger than expected and regulators are implementing measures to boost transactions in the stock market. In the short term, investors should pay attention to oil and gas stocks and others in industries such as banking, food & beverages, and retail.

In moving towards the goal of “leaving no one behind” and as part of efforts in financial inclusion, banks are now looking at a range of solutions that include promoting the development of domestic credit cards in rural areas. Agribank has been implementing its “Agribank Digital” program in many localities, which allows customers to conduct transactions without going to a counter.

According to the Hanoi Stock Exchange (HNX), transactions on the derivatives market fell sharply in July against June, while open interest (OI) for futures contracts was up 0.72 per cent. The proportion of foreign investor transactions also rose slightly compared to June, accounting for 1.38 per cent of total trading volumes.