Vietnam central bank makes fourth rate cut to support economy
The State Bank of Vietnam (SBV) announced on Friday that it is cutting its refinance and discount rates by 50 basis points from Monday to spur the country’s growth amid prolonged global economic headwinds.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
No VAT reduction for telecom, banking, securities, real estate, insurance sectors
The Vietnamese government on Wednesday proposed to the legislature a 2-percentage-point reduction in value added tax (VAT) for goods and services, except for those in the telecom, real estate, securities, insurance and banking sectors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile firm Garmex Saigon cuts 1,797 staff in Q1
Vietnam's Garmex Saigon Corporation (GMC) cut 1,797 employees in the first quarter of this year to 185, less than one tenth of the number at the beginning of the year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
62% of Vietnam consumers cut non-essential spending: PwC
Vietnamese consumers have drastically adjusted their spending behaviors, with 62% in a new PwC survey “holding back” on non-essential spending amid the globally rising cost of living.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s central bank likely to further cut rates: UOB
While the SBV has shifted towards a more accommodative stance, it does not mean the start of a rate-cut cycle, at least not just yet. The central bank is likely to approach further rate cuts cautiously and deliberately. One area of focus for the SBV is clearly the domestic inflation trend.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
State Bank cuts policy rates by 50 basis points to fuel growth
The State Bank of Vietnam (SBV) will lower its policy interest rates by 0.5 percentage points from April 3, the second cut within one month, to support growth amid global economic headwinds.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Legislators okay environmental tax cuts for fuel amid rising price
Vietnam's National Assembly adopted on Wednesday lowered environmental tax on fuel, applied from July 11 till the year-end, amidst increasing oil prices that put pressure on inflation.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Market ease sees Samsung cut smartphone production capacity in Vietnam
Samsung Electronics has reportedly adjusted the number of working days for Vietnamese smartphone production staff from five a week to three.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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