Illustrative image (Source: VNA) Hanoi (VNA) – The retail prices of oil and petrol will be kept unchanged for the next 15 days, the ministries of Finance and Industry and Trade announced on January 16. The two ministries reviewed fuel prices every 15 days to keep domestic prices up with swings in the global market. Accordingly, the retail price of bio-fuel E5 RON 92 will not be higher than 16,272 VND (0.7 USD) per litre, and that of RON 95 not more than 17,603 VND (0.76 USD). The ceiling prices of diesel and kerosene will be maintained at 14,909 VND and 14,185 VND per litre, respectively. The price of mazut is capped at 13,275 VND per kilo. With this announcement, the falling trend in petrol price has stopped after six consecutive downward adjustments. At this level, the petrol price is still 2,500 VND lower than the price at the beginning of 2018. According to the Ministry of Industry and Trade (MoIT), global oil and petrol prices have risen by more than 9 percent during the … [Read more...] about Petrol prices kept unchanged in latest review
Non binding price ceiling
By Anh Tu  October 23, 2018 | 07:24 pm GMT+7 Landing area of Noi Bai International Airport in Hanoi capital. Photo by Shutterstock/Vietnam Stock Images While several carriers want the price ceilings for domestic flights raised, inflation concerns have prevailed, for now. The current price ceiling, fixed by the Transport Ministry in August 2015, is set to remain unchanged for the time being as a new draft circular on air transportation rates. Under the draft circular on air transportation prices, prices for five different classifications range from VND1.6 million ($68) to VND3.75 million ($160) per one-way ticket. The lowest ceiling applies to flights for distances of 500 kilometers and less to remote rural areas, islands and mountainous areas that require a socioeconomic development boost. The highest price ceiling of VND3.75 million ($160) applies for flights of more than 1,280 kilometers. The maximum service charges listed above are for economy seats, not … [Read more...] about Vietnam retains current price ceilings on domestic flights
The Ministry of Transport will keep the ceiling rates for airfares unchanged despite proposals from airlines to increase the rate. The ceiling rates for airfares would be kept unchanged.-Photo thuonggiaonline.vn The ministry on Monday asked relevant agencies to contribute their opinions on the draft circular on price of air transportation service on domestic flights. Accordingly, the ceiling rates for airfares for domestic routes would be maintained as regulated since August 2015. Specifically, the basic domestic economy airfares sold in Viet Nam remain at the maximum level of five groups as follows: Routes for socio-economic development, which are less than 500km long, fly to remote and mountainous island-bound areas and only one airline operates have a maximum rate of VND1.6 million per one way ticket. Other routes under 500km have a maximum price of VND1.7 million per one way ticket. The routes of 500km to under 850km have maximum ticket price of VND2.2 million per one way … [Read more...] about Ceiling rates for airfares unchanged
Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?
The Hanoitimes - After the central bank signaled it will cease intervention in the local forex market, local commercial banks promptly raised the USD/VND exchange rate by nearly 1%. Local commercial banks immediately reacted after the State Bank of Vietnam (SBV), the country's banking authority, on July 23 increased the USD selling price by nearly 1% to VND23,273 from the previous of VND23,050, after quoting the selling prie of the greenback lower than that of the market three weeks ago. Illustration photo. Following the move, the USD/VND exchange rate quoted by commercial banks were promptly adjusted to a VND200 higher than the rate set early in the day. Specifically, the USD buying and selling prices at Vietcombank stood at VND23,150 and VND23,220, respectively, up VND130 for each compared to the opening hour quote. The same prices were reported at state-run Vietinbank and BIDV. Vietinbank increased VND129 for both selling and buying prices, and … [Read more...] about Vietnam banks raise USD prices as c.bank halts intervention