Money market loosening, despite wait for rate call
The money market is seeing the first signs of loosening though the State Bank of Việt Nam has yet to make a decision on reducing benchmark interest rates.
The Hồ Chí Minh City People’s Committee has this month submitted a proposal to the Government seeking approval for Samsung CE Complex Electronics Co. Ltd (SEHC Company) to convert into an export processing enterprise.
The cut in the fee has reduced the cost of car ownership, which the Government hoped would help revive a slumping auto market. But it has not worked out that way, at least not so far.
The new wave of Covid-19 infections has caused heavy pressure on the country’s economy. In this uncertain context money flows into the stock market have turned towards firms with good financial capability, reliable operations and attractive dividend policies.
The Ministry of Industry and Trade has called for allowing all foreign investors to further participate in the petroleum retail market.