Bánh Mì Brief

Markets, deals and policy from the last 24 hours.

◆  Top 3

1 ▸ Investors who miss commitments to lose incentives

Finance Minister Ngo Van Tuan told the National Assembly on 2 November that the amended Investment Law will set conditions to end and recover incentives when investors miss their commitments, with support tied to measurable results. He said 10%+ growth needs total investment about 2.21 times the 2021-2025 level and FDI disbursement of $30-40B a year. One deputy asked that an investment certificate not automatically grant land.

→ Thoi bao Tai chinh · 2 Nov

→ Confirmed: VietnamPlus · 2 Nov

2 ▸ Manufacturing PMI edges up to 52.3

S&P Global's Vietnam manufacturing PMI rose to 52.3 in October from 51.9, the 16th straight month above 50. New orders grew for a sixth month but at the slowest pace in that run, export orders kept falling and jobs declined for a third month. Input costs rose at the fastest pace since June, and supplier delays were the longest since April.

→ Tuoi Tre · 2 Nov

→ Confirmed: Nguoi Quan Sat · 2 Nov

3 ▸ VN-Index slips below 1,730 as banks slide

The VN-Index fell 15.7 points (-0.9%) to 1,725.92 at the midday break on 2 November, with 270 decliners against 49 gainers on HoSE. Banks fell more than 2.1% and took about 9.5 points off the index, while securities stocks dropped over 2%. Morning turnover was about VND6.97tn.

→ Tin nhanh Chung khoan · 2 Nov

◆  Economy & Markets

▸ SBV trims central rate to 25,631

The State Bank set the central rate at VND25,631 per dollar on 2 November, down 6 dong, giving a trading band of 24,349 to 26,913. Commercial banks cut quotes by 9-30 dong; by 10:45 Vietcombank sold at 25,990 and HDBank at 25,960. The dollar index stood at 101.96.

→ Kinh doanh Net · 2 Nov

◆  Business & Deals

▸ Sacombank profit falls 46% on heavy provisions

Sacombank's nine-month pre-tax profit fell more than 46% to VND5,893bn as credit-risk provisions rose almost sixfold to VND12,848bn. Pre-provision profit rose 43% to VND18,741bn, and Q3 pre-tax profit dropped 52% to about VND1,757bn. Bad debts handled reached VND34,938bn at end-September, up from VND15,980bn at the start of the year.

→ VietTimes · 1 Nov

◆  Politics & Policy

▸ Lao Assembly chairman begins official visit

Lao National Assembly Chairman Sonexay Siphandone, a Politburo member, is making an official visit to Vietnam from 2 to 5 November with his spouse, at the invitation of National Assembly Chairman Tran Thanh Man.

→ VietnamPlus · 2 Nov

◆  Worth Knowing

Nothing new.

Every item links to the original article. Vietnam time is UTC+7.
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