Proposal to tighten gas business; fighting buffalo price 2.5 million/kg

- Tighten gas business conditions to prevent illegal gas and reduce fires and explosions?

Despite the existence of a legal framework, the gas market still has shortcomings. At the workshop "Suggestions for reforming the Decree on State management in the gas sector" on the afternoon of September 22, many important proposals on gas source management, distribution and price management were made. Representatives of the "big guys" said that it is necessary to have more specific regulations on gas trading conditions, to avoid unfair competition, to limit the sale of illegal gas, illegal decanting leading to a high risk of fire and explosion. (See more)

- Nasdaq will support Vietnamese businesses to list on US stock exchanges

VinFast shares fell for the third consecutive session and are at their lowest level since being listed on the US Nasdaq on August 15.

The Vietnam Securities Commission (SSC) announced today that on September 22 (New York time), Prime Minister Pham Minh Chinh visited, worked and rang the trading bell at the Nasdaq Stock Exchange. Under the witness of the Prime Minister and many ministers, Chairman of the State Securities Commission and Vice Chairman of Nasdaq Group Robert H. McCooey Jr. signed a Letter of Intent for cooperation between Nasdaq and the SSC. One of the important contents in the Letter of Intent just signed between the SSC and Nasdaq is that US businesses will support Vietnamese companies with the potential to list on the Nasdaq. (See more)

- Standard Chartered forecasts Vietnam's economy to continue to recover in the third quarter

Vietnam's economy has shown signs of recovery since the second quarter, according to Standard Chartered. Standard Chartered forecasts Vietnam's third-quarter GDP growth to reach 5.1%, up from 4.1% in the second quarter.

- Khanh Hoa wants to open night markets in two parks and Dam market.

On September 23, the People's Committee of Khanh Hoa province announced that the locality has planned to organize night markets in Nha Trang city to serve the community, develop tourism and the local economy. Yen Phi and Thieu Nhi parks and Dam market in Nha Trang were chosen to open night markets, with 26 stalls, operating from 3 p.m. to 11 p.m. every day, to serve the people and tourists. (See more)

- Tax requires immediate invoice issuance, Shopee slowly "suspends" for 1 week, businesses are at a standstill

The Ho Chi Minh City Tax Department requires businesses to issue invoices at the exact time the goods are delivered to the buyer. However, Shopee only counts orders as successful after 7 days of delivery without any complaints or returns. (See more)

- Vietnam Airlines, HBC, CII, SII set date for shareholders' meeting

While Hoa Binh Construction Group Corporation, Saigon Water Infrastructure Corporation, and Ho Chi Minh City Technical Infrastructure Investment Corporation plan to hold extraordinary shareholders' meetings, Vietnam Airlines has set the date for its annual shareholders' meeting on November 15 (according to Tien Phong).

- VinFast's capitalization down to 35 billion USD

VinFast shares continued to fall for the third consecutive session, thereby pulling the capitalization down to the threshold of 35 billion USD. However, VinFast of billionaire Pham Nhat Vuong is still the 4th largest electric car company in the world according to stock price on Nasdaq. (See more)

- Loser buffalo meat in Hai Phong costs up to 2.5 million VND/kg but is still in high demand

After the first round of the Do Son Traditional Buffalo Fighting Festival (Hai Phong), many losing buffaloes were butchered and sold right outside the arena. Buffalo meat was sold for 1.5-2.5 million VND/kg (according to Lao Dong).

- Hand-carried iPhone 15 sold out

On the night of September 22, the first iPhone 15s were brought to the Vietnamese market by bargain hunters, with the high-end Pro Max 1TB version priced from 60-62 million VND, the 256 GB version from 46-50 million VND, depending on the color. According to retailers, the first batch of iPhone 15 series delivered to the Vietnamese market by Apple was in modest quantities, so it was not enough to meet demand (according to Nguoi Lao Dong).

- Rice prices in Thailand and Vietnam continue to decrease

Export prices of Vietnamese and Thai rice continued to decline this week from recent highs, while India’s restrictions on parboiled rice exports have slowed trading. Vietnam’s 5% broken rice was quoted at $610-620 per ton, slightly lower than last week’s $620-630 per ton (according to VNA).

- Nearly 30,000 VND/kg of sugar, the most expensive in 12 years

Domestic sugar prices have increased sharply in recent times, with a 2.96% increase for white sugar, the highest increase in the past 12 years. At many traditional markets in Hanoi, the retail price of Bien Hoa white granulated sugar is at 28,000 VND/kg, and Lam Son white granulated sugar is at 25,000 VND/kg (according to VTC News).

Oil prices ended the week mixed, with Brent slightly down and WTI slightly up. However, both benchmarks posted their first weekly decline after three consecutive weeks of gains, albeit modestly, down 0.3% for Brent and 0.03% for WTI.

Gold prices today on the world market almost stood still after strong selling pressure in the context of the Fed's decision to keep interest rates unchanged. SJC gold increased by 100,000 VND, remaining at 69 million VND/tael.

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