Under a decision issued by the State Bank of Vietnam (SBV) this month, saving interest rates for short-term loans of up to six months were cut by 0.25-0.30 percentage points to 0.5 per cent and 4.75 per cent per annum. … [Read more...] about Cash dividends beat bank savings as investors seek higher yields
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The government also proposed Thursday that two other major transport projects are funded by the state – the 23 km My Thuan – Can Tho Expressway, connecting the southern Vinh Long Province with Can Tho City; and runway repairs at the airports in Hanoi and Ho Chi Minh City. … [Read more...] about Use state budget for North-South Expressway sections: government
In the MoF’s draft decree submitted to the Government on March 26, this ministry suggested the payment deadline extension for over 61.6 trillion VND in added value tax for businesses, over 11.1 trillion VND in corporate income tax, over 3 trillion VND in taxes for individuals and households doing business, and over 4.5 trillion VND in land rental tax. … [Read more...] about Payment deadline extension proposed for over $3 bln in taxes
The US FED has launched an unprecedented bailout to help the economy cope with Covid-19. Meanwhile, the State Bank of Vietnam (SBV) has cut the 1-6 month term deposit interest rate ceiling. Just one day later, SBV decided to lower the ceiling deposit interest rate for 1-6 month term deposits from 5 percent to 4.75 percent per annum, commencing from March 17. … [Read more...] about What benefits can Vietnam’s economy expect from an interest rate cut?
Hanoi (VNA) – Boosting public investment disbursement is an important channel for the country’s socio-economic growth, Prime Minister Nguyen Xuan Phuc said at a meeting in Hanoi on March 27 to prepare for a teleconference between the Government and localities on March 31. PM Phuc said nearly 30 billion USD of public investment needs to be disbursed this year, including State budget capital and loans. In January-March, the amount of undisbursed capital was still big despite considerable efforts. The PM ordered quick implementation of key projects and strict punishments for heads of ministries, departments and localities whose capital is disbursed slowly. He said at the G20 leaders’ video conference on March 26, countries expressed their strong determination to recover the global economy by implementing a number of stimulus packages. Domestically, severe droughts and saltwater intrusion in southern provinces, along with the African swine fever, avian flu, and … [Read more...] about Public investment disbursement is an important channel for growth: PM