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Tran Quoc Phuong-Deputy Minister of Planning and Investment When planning for 2022, the Ministry of Planning and Investment (MPI) and other ministries, agencies, and localities estimated that several projects could complete investment procedures in the first quarter, and after completing these, capital would be delivered immediately. However, due to the pandemic, many projects have not yet been approved for investment decisions by the end of the first quarter and could not allocate capital, affecting disbursement activities. Moreover, 2022 is a year with many new construction projects. When a new project was started last year, following the Law on Construction enacted in 2021, the disbursements must proceed this year. The National Assembly (NA) has approved the medium-term public investment plan (MTIP), but it can take another 6-7 months to complete the procedures for investment decisions and contractor selections. The flexible adjustment of public investment capital will … [Read more...] about Tackling slowing public investment for good of nation

Real estate bonds shackled by rules - illustration photo At last week’s conference on corporate bonds held by the Vietnam Chamber of Commerce and Industry, experts discussed ways to develop an efficient and sustainable corporate bond market. One of the common recommendations regarded appropriate approaches to credit ratings. According to Can Van Luc, BIDV’s chief economist, there should be clear regulations on credit ratings to help investors easily determine business quality and the risk level of the issued bonds. “It is necessary to identify where a credit rating is mandatory and where a credit rating is encouraged. High-risk businesses should go through compulsory credit rating before bond issuance,” Luc said. “On the other hand, for businesses that have been audited and internationally rated with a long-standing history, a credit rating might not be necessary.” In recent years, the State Bank of Vietnam (SBV) has steadily redirected loan flows towards industry, services … [Read more...] about Real estate bonds shackled by rules

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability