Category: Business

The total State budget revenue in the first four months of this year reached 645.4 trillion VND (over 27.52 billion USD), accounting for 39.8% of the estimate and 95% of the same period last year, the Ministry of Finance announced on May 5.

According to the ministry, although the revenue in the first four months of the year was quite good compared to the estimate, the monthly tended to decrease as the January collection reached 14.7% of the estimate, February 7.7%, March 8.9%, and April 8.6%.

Out of the 12 sources for domestic revenues, eight ensure collection progress with their State revenue topping 34% of the estimate, while the rest saw their revenue lower than the estimate

Out of the 63 provinces and centrally-run cities nationwide, 25 localities recorded state budget revenue topping 38% of this year’s targets.

Sixteen localities saw the collection higher than that in the same period of 2022, and 47 others were lower.

The Ministry of Finance also said that the state budget balance expenditure in the four months reached 500.3 trillion VND, equaling 24.1% of the estimate, up 6.1% over the same period in 2022.

It said expenditures in the four months were carried out as planned, meeting demand for socio-economic development, defense, security safeguarding, state management, debt repayment, and implementation of social security tasks./.

Source: Vietnam News Agency

Rising demand for housing in urban areas in the 2021-2030, along with the Vietnamese government’s new policies on land, market transparency and bond issuances, is expected to spur the development of real estate market and opening up capital flows for businesses in the coming time, according to industry experts.

Statistics from the Ministry of Construction showed that the country’s urbanisation rate, which now stands at 40%, will expand to 45% by 2030.

With the current population growth rate and housing demand, around 70 million sq.m of urban housing is needed each year.

As the global real estate market is forecast to slow down in 2023, it’s hard for the Vietnamese market to avoid the impact. However, according to the Vietnam Association of Realtors (VARS), the segment of social and affordable housing will grow because urban development is still attracting the attention of investors.

Some investors like Vinhomes plan to build 500,000 social houses in the next five years. Him Lam and Hung Thinh also have plans to participate in the construction of social housing in the near future.

Given the fact that the supply of affordable apartments accounts for less than 2% of the total supply of new apartments in Hanoi and Ho Chi Minh City, the social housing segment can recover thanks to this supply and the support from the Government's new policies, said expert Nguyen Thi Cam Tu from Vndirect Securities Company.

She cited Government’s Resolution No 33/NQ-CP on solutions removing and promoting the development of a healthy and sustainable real estate market and Decree No.8/2023/ND-CP on amendment of a number of articles in decrees stipulating the private offering and trading of corporate in the domestic market as examples. They can help ease liquidity pressure in the short term, she noted.

In fact, real estate businesses are facing liquidity pressure when entering the peak period of bond maturity.

According to Ho Chi Minh City Real Estate Association (HoREA), the volume of such bonds maturing in 2023-2024 will reach about 230 trillion VND (9.8 billion USD), including 119 trillion VND in 2023 and 111 trillion VND in 2024.

Le Hoang Chau, President of HoREA, said Decree No. 08 will have a very positive impact on the handling of 119,000 billion VND worth of bonds due in 2023.

Experts said that the issuance of recent legal documents has creates a legal corridor for businesses to access capital, thereby resuming their operation. Enterprises have a chance to restructure debt, extend loan principal and interest, gradually removing bottlenecks of the real estate market.

The Government has committed to build more than 1 million social housing and houses for workers by 2030 to meet the needs of middle and low income households. This move creates a driving force for businesses, especially those with land available suitable for building social housing projects./.

Source: Vietnam News Agency

The IMF expects the global economy to grow by 2.8 percent, Asia will grow by 4.6 percent, while the 3 IMF, ADB, ASEAN+3 treasuries. inflation warning higher public debt and global financial volatility

Source: Thai News Agency

SET closed today at 1,528.43 points, down 0.69 points (-0.05%), trading value 39,979.71 million baht.

stock trading today The index plunged to a bottom at 1,517.98 points and a peak at 1,535.35 points, dropping 10 points in the afternoon, breaking the key support at 1,520 points, before rebounding to reduce the negative range following the buying back of big stocks. As for securities, today's change increased 378 securities, decreased 982 securities and did not change 439 securities

Source: Thai News Agency

Indonesia recorded a 20.2% increase annually in foreign direct investment (FDI) in the first quarter (Q1) of this year, with the base metal industry the biggest recipient amid efforts to boost investment in processed minerals.

According to data from the Indonesia’s Ministry of Investment, the first quarter FDI, which excludes investment in the banking and oil and gas sectors, was worth 177 trillion IDR (11.96 billion USD), up 43.3% compared to the last quarter of 2022.

Investment Minister Bahlil Lahadalia said that FDI in the manufacturing sector, especially the metal industry, in Q1 ranked first, which showed the government policy to give added value on natural resources has had a positive impact.

Indonesia is due to ban the export of raw minerals like copper and bauxite from June as part of efforts to attract investment into its metals processing industry and boost the value of its exports.

Singapore, China’s Hong Kong, and China provided the largest share of the FDI in the first quarter with investment of 4.3 billion USD, 1.5 billion USD and 1.2 billion USD, respectively, according to the ministry’s data.

At a news conference, Bahlil said challenges to achieve the investment target included a global economic slowdown and ensuring political stability ahead of an election next year, when Indonesia will choose a new president and legislators.

He also said Indonesia will continue to focus on drawing investment in the next three quarters into processing industries, including natural resources, part of its goal to be among the world's top five countries in terms of gross domestic product./.

Source: Vietnam News Agency

The Ministry of Industry and Trade has emphasized the need to cut 50% of auto registration fees and extend the payment of the excise tax on locally-assembled and manufactured cars to stimulate consumer demand and ease the burden on businesses. In a written document sent to the Ministry of Finance for consideration last week, the trade ministry said that the risk of economic turmoil had had a great impact on businesses, including domestic automobile assemblers and manufacturers.

In addition, pressure from tightened credit policy, high interest rates, and market liquidity problems also have influence on consumer psychology as many people have decided to tighten their spending.

In the first quarter, sales of domestically-assembled cars and imported cars dropped 34% and 4% respectively.

Source: VOV5

#Kamphu Ratchanee got on a tractor to explore the rubber plantations in Korat in search of "Cocoa", a plant of the future that was planted under the shade of rubber trees to increase income for the first time! Taste the pulp from the fluffy white cocoa fruit. Try making fresh chocolate from cocoa fruit and workshop on processing into familiar chocolate products @Cocoa Farm, Khlong Phai Subdistrict, Sikhio District, Nakhon Ratchasima Province, location: https://goo.gl/maps/m4okGZb6TPStr6xc7

Source: Thai News Agency

Roundtable Discussions on the Results of the Survey on Mutual Perceptions of ASEAN and Korean Youths have been organised by the ASEAN-Korea Centre at the Press Room of Korea Press Centre in Seoul.

The roundtable presented the findings of the 2022 Survey on Mutual Perceptions of ASEAN and Korean Youths conducted through focus group interviews (FGIs), which is a follow-up survey to the first quantitative research done in 2021.

Speakers from the media, academia, government organisations, and youths participated in the roundtable discussions to exchange views on the current perceptions of youths on ASEAN and the RoK, as well as share ideas for shaping balanced and equal mutual perceptions and awareness among the youths of the two regions.

As the important role of youth has been emphasised for building a sustainable and mutually beneficial partnership between ASEAN and the RoK, there is also a growing recognition on the need to build balanced mutual perceptions among the youths.

As such, the ASEAN-Korea Centre implemented two survey projects (2021-2022) to identify the current status of mutual perceptions between ASEAN and Korean youths and to suggest ways for improving perceptions.

The 2022 qualitative survey was implemented through FGIs with 147 youths of ASEAN and the RoK, and was designed as a follow-up to the initial key findings from the 2021 quantitative survey.

Three main areas were covered in the FGIs, specifically on the perceptions of ASEAN and the RoK, youths exchanges between ASEAN and the RoK, and ASEAN-RoK cooperative relations.

Results from the 2022 survey identified that ASEAN and Korean youths showed differences in their mutual perceptions for one another, and that such differences stem from the imbalance in frequency and scope of exposure to information and content about one another.

Meanwhile, youths of both ASEAN and the RoK also regarded each other as trustworthy partners based on the recognition of abundant opportunities for economic cooperation as well as less political interests. However, despite such trust, youths still did not perceive each other as equal partners and thus may not prioritise cooperation with each other. This is due to their perceptions of different needs caused by differences in economic development and the lack of accurate recognition of each other´s values.

To bridge such gaps, the survey publication highlighted some potential policy recommendations minimising the asymmetry, providing quality contents that promote accurate perceptions and the promotion of collaborations and cooperation among relevant organisations, as well as increasing youth exchange programmes./.

Source: Vietnam News Agency