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.
The Government has earmarked VND14.5 trillion (US$631.8 million) for the purchase of Covid-19 vaccines.
For the first six months of the year, Vietnam’s GDP growth is estimated at 5.8%, lower than the government’s expectation of 6.22%.
The local stock market is expected to be upgraded to the emerging status by 2022.
Following the adjustments, prices of E5, RON92 and RON95 reached the highest since February 14, 2020.
The HoSE has also announced the imminent test of a new trading system provided by the Korea Exchange from June 14-August 8.
This could be a good opportunity for investors to consider buying good stocks that have gradually plummeted to the short-term support area, said a securities company.
In 2021, the government would borrow VND624.22 trillion (US$27.2 billion), including VND527.35 trillion (US$23 billion) from domestic source.
The VN-Index has been one of the best performing in the world with an expansion of 34.51% in the past six months.
Twenty-seven out of 63 provinces/cities have fully disclosed information on their respective budgets this year, scoring 75 points and over, while in 2017, none was able to do so.
High budget revenue in the five-month period was thanks to economic recovery trend that has stated since late 2020.
Prospect of possible trade deficit in upcoming months and the impacts from current Covid-19 pandemic in Vietnam would pose pressure on the USD/VND exchange rate.
The market liquidity at HoSE this morning session exceeded VND21.7 trillion (US$944.8 million), triggering the system alarm.
A GDP growth of 5.8% in 2021, nearly double the 2.9% growth last year, would boost credit demand.
By 2025, at least 50% of banking procedures and 70% of customers’ transactions are expected to take place in the cyber environment.
Local investors continued to dominate the market as their foreign peers remained net-sellers for the 10th consecutive trading session.
The application of digital technologies would help promote transparency and fairness in state budget management.
The finance ministry would allocate VND3 trillion (US$130 million) from the state budget for the Covid-19 fight.
The Vietnamese government will support boosting the application of new payment methods to achieve the digital transformation goals of the banking industry.
Local authorities are urged to ensure the quality, price, and use of state assets in a transparent and public manner.
