The State Bank of Vietnam (SBV) will likely pump more foreign currencies this year to keep the forex market stable as the recent interest rate hike by the U.S. Fed is piling pressure on the domestic market.

The domestic fuel retail prices have been revised up for the seventh straight time this year, according to an announcement jointly issued by the ministries of Industry-Trade and Finance at 3:00 p.m. on June 21.

The Ministry of Finance has proposed cutting the environmental protection tax on gasoline by half to VND1,000 per liter and other fuels by 30-70% as the rising fuel prices are weighing on Vietnam’s economy.

The HCMC Department of Transport has proposed that a 33-kilometer section of the HCMC-Can Tho express railway in HCMC should have elevated tracks to facilitate the project’s execution.

The U.S. Department of Treasury has placed Vietnam on its currency monitoring list as Vietnam had a high trade surplus with America in 2021.

The Ministry of Industry and Trade has said it is planning to boost national fuel reserves to 30 days of domestic consumption amid global oil market volatility.

The National Assembly (NA) on June 16, adopted a resolution approving the Beltway No. 3 project in southern Vietnam, with 475 of 478 NA deputies voting in favor.

The Ministry of Finance has proposed the Government eliminate the fuel price stabilization fund so that fuel prices can be fully regulated by market forces.

HCMC has paid over VND90 billion of the total amount to build 56 Covid field hospitals, but still owes VND193 billion to contractors.

The price of the high-grade RON95 gasoline climbed by VND800 per liter to a fresh record of VND32,270 a liter on June 13, while other fuels jumped by over VND2,000 per liter.