Starting November 2, foreign investors will no longer be required to pre-fund 100% of their transactions, promising the removal of a major roadblock for Vietnam's market upgrade process.
This has been the third extension of excise tax compliance due date for local cars since 2020, with an expected amount subject to a tax break of VND20 trillion ($US$863 million).
The prime minister held meetings with executives of US major financial corporations such as KKR, Visa, S&P, and Citigroup over future cooperation in the financial sector.
As of the end of April, Vietnam’s stock market has over 5.2 million securities accounts, of which retail investors make up 98.9%.
The ministry considered this an urgent solution for businesses, which should take effect immediately from the date of signing to the end of 2022.
The stability of the VND-USD exchange rate helped Vietnam attract substantial attention from investors in the region, such as Thailand, Taiwan, and Singapore.
The CPI in the first half of 2022 is estimated to expand by 2.5% year on year, significantly lower than the 4%-threshold.
Vietnam’s e-commerce startup Tiki is expected to be Shinhan Financial’s first strategic partner in the Southeast Asian country.
The banking sector will continue providing support for its customers affected by the pandemic, including ongoing efforts to restructure debt payments and waive and cut interest rates.
The prospects of the local stock market remain bright and will become a key capital mobilization channel for businesses and the economy, said the finance minister.
Deputy Prime Minister Le Minh Khai called for the South Korean bank to continue expanding investment activities in Vietnam beyond the banking sector.
While there was a turbulent period, it is expected the market to become more transparent and sustainable in the long term.
A healthy and transparent stock market would lay the foundation for sustainable development in the long term.
The Government is committed to taking any necessary means to stabilize the market and support its development towards transparency, safety, and sustainability.
The plan is to ensure the mass adoption of e-invoices in all 63 provinces/cities before July 1, 2022.
The authorities are committed to supporting compliant companies to ensure the sustainable development of the stock market.
The development of the State Treasury of Vietnam should gradually approach the level of the region and the world, in which its operation will base on a modern corporate governance model.
Foreign investors have remained confident in Vietnam's stock market, with a net-bought volume of VND1.7 trillion (US$74 million) in the past five trading sessions.
Fiscal policies such as tax cuts and freezing of payments have been supportive of the overall efforts of keeping inflation at bay.
The National Assembly called for the Government to have a long-term solution to resolve bad debts.
The objective is to ensure sufficient capital for the Government to carry out its socio-economic recovery packages.
