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AT A GLANCE
Congratulations on Ethiopia National Day

GOLD MARKET AUCTION RESULTS ANNOUNCED

The State Bank of Vietnam (SBV) has announced the outcome conditions specified by the SBV to take
of a gold bullion auction on April 23, with two winning bidders part in the auction. According to the
securing 34 lots, equivalent to 3,400 taels of SJC-branded gold central bank, seven banks and four enter-
bars. The two winners were the Saigon Jewelry Company prises participated in the auction; the
Limited (SJC) and the Asia Commercial Joint Stock Bank first of its kind in eleven years. The last time the central bank
(ACB). The highest winning price was VND81.33 million sold gold bars was in 2013, when over 1.8 million taels were
($3,195) per tael, while the lowest was VND81.32 million sold in a total of 76 auctions. This latest auction is seen as a
($3,194). On April 22, the SBV issued a notice regarding the decisive measure to boost gold supply in the market. Gold
auction of 16,800 taels of gold bullion to credit institutions and prices fell by about VND1 million ($39.4) per tael in the
enterprises. These entities were required to meet the necessary domestic market immediately after the auction.

PROFIT GROWTH ANTICIPATED BANKING & FINANCE
According to the latest survey by the quarter and the year as a whole. According to credit institutions,
State Bank of Vietnam (SBV), 86.2 per interest rate, credit, and foreign exchange rate policies are
cent of credit institutions expect their the factors that will positively affect their business performance
profits to grow this year compared to this year. They also predict that customer demand for banking
2023. In the survey, released recently, credit institutions said services will improve due to the expectation that the economy
that overall business performance and pre-tax profits in the and the manufacturing industry will see positive development,
banking system in the first quarter of 2024 were not as good exports will gradually recover, and loan demand will be higher
as expected but they anticipate improvements in the second than deposit demand.

DIGITAL AIR SERVICES FIRST SMART AIRPORT TERMINAL ON HORIZON

The international terminal at Da Nang International Airport in the 2024 and completing it in October. AI-pow-
central city of Da Nang will become a smart terminal under a part- ered cameras will be installed in areas where
nership between the Da Nang International Terminal Investment procedures are conducted to assess density
and Operation JSC (AHT) and FPT Software. Announced on April and help operators quickly detect hotspots
22, the partnership aims to promote digital transformation in the to take effective action. More mobile apps will be launched to
short term and comprehensive modernization in the long term. It provide smart support solutions, such as notifying departure status
looks to develop Vietnam’s first smart airport terminal to minimize and noting current locations on a map. A new website will be built
the time needed for handling procedures and improve the passenger to ensure the best possible convenience for users when searching for
experience. At the ceremony announcing the partnership, AHT and multilingual information. More touch-screen systems will also be
FPT Software, an affiliate of local tech giant the FPT Group, signed placed around the terminal for passengers to search for information
documents on implementing the project in the second quarter of and offer assessments, helping the terminal make improvements.

NA CHAIRMAN ALLOWED TO CEASE HOLDING POSITIONS PERSONNEL AFFAIRS
During a meeting on April 26, the 13th that Hue violated regulations on acts Party members must not
Party Central Committee agreed to allow commit along with regulations concerning the responsibility of
Vuong Dinh Hue to cease holding the officials and Party members, particularly members of the
positions of Politburo member, Member Politburo, the Party Central Committee’s Secretariat, and the
of the 13th Party Central Committee, and Chairman of the 15th Party Central Committee, to set a good example, and bears
National Assembly (NA) (2021-2026 tenure). Considering Hue’s such responsibility as a leader under Party regulations and
wish to cease holding these positions, the Committee determined State laws. His violations and shortcomings have sparked
that he is a key leader of the Party and State, received fundamental negative public opinion and affected the prestige of the Party
training, grew up from the grassroots level, and was assigned to and the State, as well as his own reputation, an official announce-
hold many important leadership positions in the Party and the ment said, adding that, fully aware of his responsibilities towards
State. However, recent reports from the Party Central Committee’s the Party, the State, and the people, Hue submitted a request to
Inspection Commission and other relevant authorities revealed cease holding his assigned positions and to stop working.

ANTI-CORRUPTION EFFORTS SENIOR OFFICIAL ARRESTED
The Investigation Police Agency at the Ministry of Public Security regulations on bidding causing serious con-
began legal proceedings on April 21 against Pham Thai Ha, sequences”, “giving bribes”, and “receiving
Deputy Head of the National Assembly (NA) Office and Assistant bribes” at the Group and related units and
to the NA Chairman, and also issued arrest and search warrants, organizations. Accordingly, Group Chair-
on charges of abusing his position and power for personal gain. man Nguyen Duy Hung; General Director and Deputy General
Ministry spokesperson Lieutenant General To An Xo said on Director Tran Anh Quang and Nguyen Khac Man; Director and
April 22 that the decision was made following an expanded inves- Deputy Director of the Investment Project Management Board
tigation into a case involving violations of bidding regulations for the Construction of Transport and Agricultural Works in the
and bribery at the Thuan An Group and related units and organ- northern province of Bac Giang Nguyen Van Thao and Dam Van
izations. Further investigations are now underway. Earlier, the Cuong; and Hoang The Du, Head of the province’s Project Man-
agency launched legal proceedings against a case of “violating agement Board, were arrested.

en.vneconomy.vn May 1, 2024 Vietnam Economic Times 7