{"id":8730,"date":"2023-03-25T17:23:05","date_gmt":"2023-03-25T10:23:05","guid":{"rendered":"https:\/\/www.phfm.vn\/?p=8730"},"modified":"2023-06-14T14:13:06","modified_gmt":"2023-06-14T07:13:06","slug":"the-storm-in-the-teacup","status":"publish","type":"post","link":"https:\/\/www.phfm.vn\/vi\/the-storm-in-the-teacup\/","title":{"rendered":"\u201cC\u01a0N B\u00c3O TRONG T\u00c1CH TR\u00c0\u201d"},"content":{"rendered":"Sau khi d\u1ecbch Covid-19 ho\u00e0n to\u00e0n \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t, th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n (B\u0110S) b\u1eaft \u0111\u1ea7u ph\u1ee5c h\u1ed3i. Tuy nhi\u00ean, b\u01b0\u1edbc sang n\u0103m 2022, th\u1ecb tr\u01b0\u1eddng s\u1ee5t gi\u1ea3m c\u1ea3 ngu\u1ed3n cung v\u00e0 nhu c\u1ea7u do ch\u00ednh s\u00e1ch th\u1eaft ch\u1eb7t t\u00edn d\u1ee5ng v\u00e0 tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p sau nh\u1eefng scandal c\u1ee7a c\u00e1c t\u1eadp \u0111o\u00e0n nh\u01b0 T\u00e2n Ho\u00e0ng Minh, V\u1ea1n Th\u1ecbnh Ph\u00e1t. Do \u0111\u00f3, Ch\u00ednh Ph\u1ee7 c\u0169ng \u0111\u00e3 c\u00f3 nh\u1eefng ch\u1ee7 tr\u01b0\u01a1ng, ngh\u1ecb \u0111\u1ecbnh nh\u1eb1m h\u01b0\u1edbng d\u1eabn trong vi\u1ec7c ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu th\u00f4ng qua Ngh\u1ecb \u0111\u1ecbnh 08 v\u00e0 lu\u1eadt \u0110\u1ea5t \u0111ai s\u1eeda \u0111\u1ed5i d\u1ef1 ki\u1ebfn s\u1ebd c\u00f3 hi\u1ec7u l\u1ef1c v\u00e0o n\u0103m 2024. \u0110i\u1ec1u n\u00e0y s\u1ebd gi\u00fap th\u1ecb tr\u01b0\u1eddng c\u1ea3i thi\u1ec7n v\u00e0 t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh trong t\u01b0\u01a1ng lai. Trong b\u00e0i vi\u1ebft n\u00e0y, ch\u00fang t\u00f4i s\u1ebd \u0111\u1ec1 c\u1eadp \u0111\u1ebfn 2 k\u1ecbch b\u1ea3n c\u00f3 th\u1ec3 x\u1ea3y ra v\u1edbi th\u1ecb tr\u01b0\u1eddng B\u0110S.<\/p>\n<p>* \u00dd ngh\u0129a ti\u00eau \u0111\u1ec1: Sau nh\u1eefng bi\u1ebfn \u0111\u1ed9ng trong th\u1eddi gian qua, ch\u00fang t\u00f4i k\u1ef3 v\u1ecdng r\u1eb1ng khi nh\u1eefng quy \u0111\u1ecbnh v\u1ec1 th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh ng\u00e0y c\u00e0ng ho\u00e0n ch\u1ec9nh v\u00e0 vi\u1ec7c ho\u00e0n thi\u1ec7n lu\u1eadt \u0110\u1ea5t \u0110ai (s\u1eeda \u0111\u1ed5i) s\u1ebd gi\u00fap cho th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>M\u1ee5c l\u1ee5c<\/strong><\/p>\n<hr \/>\n<p><strong>A. 2022 \u2013 N\u0102M \u0110\u1ea6Y BI\u1ebeN \u0110\u1ed8NG C\u1ee6A TH\u1eca TR\u01af\u1edcNG B\u0110S<\/strong><\/p>\n<p>I. Gia t\u0103ng l\u00e3i su\u1ea5t<br \/>\nII. Ki\u1ec3m so\u00e1t ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu ch\u1eb7t ch\u1ebd \u2013 Ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 65\/2022<\/p>\n<p><strong>B. C\u00c1C DOANH NGHI\u1ec6P PH\u00c1T TRI\u1ec2N B\u0110S \u0110ANG \u0110\u1ed0I M\u1eb6T KH\u00d3 KH\u0102N<\/strong><br \/>\nI. Kh\u00f3 kh\u0103n cho nh\u00e0 ph\u00e1t tri\u1ec3n B\u0110S \u2013 Kh\u00f3 kh\u0103n trong ho\u1ea1t \u0111\u1ed9ng huy \u0111\u1ed9ng v\u1ed1n<br \/>\nII. \u00c1p l\u1ef1c tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n \u2013 C\u00e1c doanh nghi\u1ec7p g\u1eb7p kh\u00f3 kh\u0103n khi \u0111\u1ebfn k\u1ef3 thanh to\u00e1n<br \/>\nIII. B\u1ea5t c\u00e2n x\u1ee9ng cung c\u1ea7u \u2013 Kh\u00f3 kh\u0103n \u1edf ho\u1ea1t \u0111\u1ed9ng b\u00e1n h\u00e0ng<br \/>\nIV. Tr\u01b0\u1eddng h\u1ee3p \u0111\u00e1ng ch\u00fa \u00fd \u2013 NVL<\/p>\n<p><strong>C. C\u00c1C GI\u1ea2I PH\u00c1P T\u1eea CH\u00cdNH PH\u1ee6<\/strong><br \/>\nI. H\u1ed7 tr\u1ee3 ngu\u1ed3n cung<br \/>\nII. H\u1ed7 tr\u1ee3 nhu c\u1ea7u<\/p>\n<p><strong>D. \u0110I\u1ec0U G\u00cc S\u1ebc X\u1ea2Y RA TI\u1ebeP THEO<\/strong><\/p>\n<hr \/>\n<p><strong><span style=\"font-size: 150%;\">A. 2022 \u2013 N\u0102M \u0110\u1ea6Y BI\u1ebeN \u0110\u1ed8NG C\u1ee6A TH\u1eca TR\u01af\u1edcNG B\u0110S<\/span><\/strong><br \/>\n<strong><span style=\"font-size: 130%;\">I. Gia t\u0103ng l\u00e3i su\u1ea5t<\/span><\/strong><\/p>\n<p>T\u1eeb \u0111\u1ea7u n\u0103m 2022, th\u1ecb tr\u01b0\u1eddng B\u0110S x\u1ea3y ra li\u00ean t\u1ee5c c\u00e1c c\u01a1n s\u1ed1t \u0111\u1ea5t do \u0111\u1ea7u c\u01a1 \u1edf nhi\u1ec1u v\u00f9ng mi\u1ec1n Vi\u1ec7t Nam. Nh\u1ea5t l\u00e0 v\u00f9ng n\u00f4ng th\u00f4n, gi\u00e1 B\u0110S b\u1ecb \u0111\u1ea9y l\u00ean 200-300%. Nguy\u00ean nh\u00e2n \u0111\u1ebfn t\u1eeb l\u00e3i su\u1ea5t th\u1ea5p t\u1eeb g\u00f3i h\u1ed7 tr\u1ee3 doanh nghi\u1ec7p ph\u1ee5c h\u1ed3i s\u1ea3n xu\u1ea5t, \u0111\u00e3 d\u1eabn \u0111\u1ebfn c\u01a1n s\u1ed1t \u0111\u1ea5t n\u1ec1n. Tuy nhi\u00ean, d\u00f2ng v\u1ed1n d\u1ecbch chuy\u1ec3n v\u00e0o th\u1ecb tr\u01b0\u1eddng B\u0110S ch\u1ec9 di\u1ec5n ra trong ng\u1eafn h\u1ea1n.<\/p>\n<p>Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc \u0111\u00e3 ch\u1ec9 \u0111\u1ea1o ki\u1ec3m so\u00e1t ch\u1eb7t t\u00edn d\u1ee5ng \u0111\u1ed1i v\u1edbi m\u1ed9t s\u1ed1 ph\u00e2n kh\u00fac s\u1ea3n ph\u1ea9m B\u0110S ti\u1ec1m \u1ea9n r\u1ee7i ro \u0111\u1ea7u c\u01a1 cao \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o an to\u00e0n h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng. T\u00ednh \u0111\u1ebfn \u0111\u1ea7u th\u00e1ng 12 n\u0103m 2022, l\u00e3i su\u1ea5t vay th\u1ebf ch\u1ea5p trung b\u00ecnh c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng qu\u1ed1c doanh v\u00e0 ng\u00e2n h\u00e0ng t\u01b0 nh\u00e2n \u0111\u00e3 t\u0103ng m\u1ea1nh t\u1eeb 10% l\u00ean 12% trong giai \u0111o\u1ea1n 2021-2022, sau khi l\u00e3i su\u1ea5t huy \u0111\u1ed9ng gia t\u0103ng.<\/p>\n<p>L\u00e3i su\u1ea5t c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i c\u0169ng \u0111\u1ed3ng lo\u1ea1t t\u0103ng. L\u00e3i su\u1ea5t vay th\u1ebf ch\u1ea5p \u0111ang t\u0103ng c\u00f9ng v\u1edbi \u0111\u00e0 t\u0103ng c\u1ee7a l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi. Hi\u1ec7n l\u00e3i su\u1ea5t huy \u0111\u1ed9ng k\u1ef3 h\u1ea1n 12 th\u00e1ng \u0111\u00e3 t\u0103ng l\u00ean kho\u1ea3ng 8.5%\/n\u0103m t\u1ea1i ng\u00e2n h\u00e0ng ngo\u00e0i qu\u1ed1c doanh, k\u00e9o l\u00e3i su\u1ea5t th\u1ebf ch\u1ea5p trung b\u00ecnh \u0111\u1ea1t 14%-15%\/n\u0103m. \u0110i\u1ec1u n\u00e0y s\u1ebd c\u1ea3n tr\u1edf \u0111\u1ebfn c\u00e1c quy\u1ebft \u0111\u1ecbnh mua nh\u00e0 \u1edf, tuy nhi\u00ean ph\u1ea7n n\u00e0o \u0111\u00f3, n\u00f3 s\u1ebd d\u1ea7n ch\u1eb7n \u0111\u1ee9ng c\u00e1c ho\u1ea1t \u0111\u1ed9ng \u0111\u1ea7u c\u01a1 tr\u00ean th\u1ecb tr\u01b0\u1eddng B\u0110S.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/1.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8853\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/1.1.png\" alt=\"\" width=\"800\" height=\"301\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/1.1.png 965w, https:\/\/www.phfm.vn\/wp-content\/uploads\/1.1-768x289.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: Ng\u00e2n h\u00e0ng trong n\u01b0\u1edbc, PHFM t\u1ed5ng h\u1ee3p<\/em><\/p>\n<p><span style=\"font-size: 130%;\"><strong>II. Ki\u1ec3m so\u00e1t ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu ch\u1eb7t ch\u1ebd \u2013 Ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 65\/2022<\/strong><\/span><\/p>\n<p>Th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p l\u00e0 m\u1ed9t trong nh\u1eefng k\u00eanh huy \u0111\u1ed9ng v\u1ed1n quan tr\u1ecdng c\u1ee7a c\u00e1c c\u00f4ng ty ph\u00e1t tri\u1ec3n B\u0110S v\u00e0 gi\u00e1 tr\u1ecb c\u1ee7a th\u1ecb tr\u01b0\u1eddng n\u00e0y ng\u00e0y m\u1ed9t gia t\u0103ng. Tuy nhi\u00ean, m\u1ed9t s\u1ed1 c\u00f4ng ty \u0111\u00e3 s\u1eed d\u1ee5ng tr\u00e1i phi\u1ebfu m\u1ed9t c\u00e1ch gian l\u1eadn, d\u1eabn \u0111\u1ebfn nhi\u1ec1u v\u1ee5 b\u00ea b\u1ed1i \u0111\u00e3 x\u1ea3y ra. \u0110i\u1ec1u n\u00e0y khi\u1ebfn cho nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ecb &#8220;s\u1ee5t gi\u1ea3m ni\u1ec1m tin v\u00e0o th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu&#8221;.<\/p>\n<p>Th\u00e1ng 2\/2022, m\u1ed9t th\u00e0nh vi\u00ean c\u1ee7a T\u1eadp \u0111o\u00e0n T\u00e2n Ho\u00e0ng Minh \u0111\u00e3 b\u1ecf c\u1ecdc g\u1ea7n 600 t\u1ef7 \u0111\u1ed3ng \u0111\u1ec3 mua 4 l\u00f4 \u0111\u1ea5t \u0111\u1eafc \u0111\u1ecba \u1edf Th\u1ee7 Thi\u00eam, Qu\u1eadn 2 t\u1ea1i m\u1ed9t s\u1ef1 ki\u1ec7n \u0111\u1ea5u gi\u00e1, v\u1edbi gi\u00e1 \u0111\u1ea5t cao nh\u1ea5t l\u00ean t\u1edbi kho\u1ea3ng 102,000 USD\/m2. Th\u00e1ng 9\/2022, c\u01a1 quan ch\u1ee9c n\u0103ng \u0111\u00e3 ti\u1ebfn h\u00e0nh \u0111i\u1ec1u tra v\u1ee5 vi\u1ec7c li\u00ean quan \u0111\u1ebfn t\u1eadp \u0111o\u00e0n n\u00e0y v\u00e0 ph\u00e1t hi\u1ec7n h\u00e0nh vi gian l\u1eadn trong ph\u00e1t h\u00e0nh, mua b\u00e1n tr\u00e1i phi\u1ebfu&#8230; Sau khi c\u00f3 k\u1ebft qu\u1ea3 \u0111i\u1ec1u tra, t\u1eadp \u0111o\u00e0n T\u00e2n Ho\u00e0ng Minh \u0111\u00e3 b\u1ecb h\u1ee7y to\u00e0n b\u1ed9 9 \u0111\u1ee3t ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu tr\u1ecb gi\u00e1 h\u01a1n 10,000 t\u1ef7 \u0111\u1ed3ng t\u1eeb th\u00e1ng 7\/2021 \u0111\u1ebfn th\u00e1ng 3\/2022.<\/p>\n<p>Th\u00e1ng 9\/2022, T\u1eadp \u0111o\u00e0n V\u1ea1n Th\u1ecbnh Ph\u00e1t ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1o bu\u1ed9c h\u00ecnh s\u1ef1 v\u1ec1 h\u00e0nh vi vi ph\u1ea1m ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu. V\u1ea1n Th\u1ecbnh Ph\u00e1t \u0111\u00e3 c\u00f3 nh\u1eefng sai ph\u1ea1m trong vi\u1ec7c ph\u00e1t h\u00e0nh, ph\u00e2n ph\u1ed1i tr\u00e1i phi\u1ebfu v\u00e0 \u0111\u1ea3o n\u1ee3 gi\u1eefa c\u00e1c c\u00f4ng ty con trong t\u1eadp \u0111o\u00e0n \u0111\u1ec3 s\u1eed d\u1ee5ng v\u00e0o nhi\u1ec1u m\u1ee5c \u0111\u00edch kh\u00e1c nhau v\u00e0 kh\u00f4ng \u0111\u00fang v\u1edbi m\u1ee5c \u0111\u00edch ph\u00e1t h\u00e0nh.<\/p>\n<p>\u0110\u1ec3 b\u1ea3o v\u1ec7 quy\u1ec1n l\u1ee3i v\u00e0 tr\u00e1ch nhi\u1ec7m cho nh\u00e0 \u0111\u1ea7u t\u01b0, ng\u00e0y 16\/09\/2022, Ch\u00ednh Ph\u1ee7 \u0111\u00e3 ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 65\/2022 (g\u1ecdi t\u1eaft l\u00e0 &#8220;Ngh\u1ecb \u0111\u1ecbnh 65&#8221;) b\u1ed5 sung, s\u1eeda \u0111\u1ed5i Ngh\u1ecb \u0111\u1ecbnh 153\/2020 c\u0169 (g\u1ecdi t\u1eaft l\u00e0 &#8220;Ngh\u1ecb \u0111\u1ecbnh 153&#8221;) quy \u0111\u1ecbnh v\u1ec1 nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u00e1t h\u00e0nh, giao d\u1ecbch tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p ph\u00e1t h\u00e0nh ri\u00eang l\u1ebb tr\u00ean th\u1ecb tr\u01b0\u1eddng trong n\u01b0\u1edbc v\u00e0 ch\u00e0o b\u00e1n tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p tr\u00ean th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf. Ch\u00fang t\u00f4i ghi nh\u1eadn 3 \u0111i\u1ec3m quan tr\u1ecdng trong Ngh\u1ecb \u0111\u1ecbnh 65:<\/p>\n<ul>\n<li><strong>N\u00e2ng cao ti\u00eau chu\u1ea9n v\u1ec1 nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n chuy\u00ean nghi\u1ec7p.<\/strong> Tr\u01b0\u1edbc \u0111\u00e2y, Ngh\u1ecb \u0111\u1ecbnh 153 kh\u00f4ng c\u00f3 ti\u00eau chu\u1ea9n n\u00e0y. Ngh\u1ecb \u0111\u1ecbnh 65 b\u1ed5 sung quy \u0111\u1ecbnh v\u1ec1 ti\u00eau chu\u1ea9n x\u00e1c \u0111\u1ecbnh nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p. \u0110\u1ec3 \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n tr\u1edf th\u00e0nh nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n chuy\u00ean nghi\u1ec7p, nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i duy tr\u00ec danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u00edt nh\u1ea5t 2 t\u1ef7 \u0111\u1ed3ng theo gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng, b\u00ecnh qu\u00e2n t\u1ed1i thi\u1ec3u 180 ng\u00e0y li\u1ec1n k\u1ec1 tr\u01b0\u1edbc ng\u00e0y x\u00e1c \u0111\u1ecbnh t\u01b0 c\u00e1ch, kh\u00f4ng bao g\u1ed3m gi\u00e1 tr\u1ecb danh m\u1ee5c k\u00fd qu\u1ef9. Hi\u1ec7u l\u1ef1c x\u00e1c \u0111\u1ecbnh danh m\u1ee5c l\u00e0 trong v\u00f2ng 3 th\u00e1ng. Trong ng\u1eafn h\u1ea1n, \u0111i\u1ec1u n\u00e0y s\u1ebd l\u00e0m gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng nh\u00e0 \u0111\u1ea7u t\u01b0. Tuy nhi\u00ean, ch\u00fang t\u00f4i k\u1ef3 v\u1ecdng r\u1eb1ng khi nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c trang b\u1ecb ki\u1ebfn th\u1ee9c \u0111\u1ea7y \u0111\u1ee7, t\u1eeb \u0111\u00f3 c\u00f3 th\u1ec3 n\u00e2ng cao kh\u1ea3 n\u0103ng nh\u1eadn di\u1ec7n r\u1ee7i ro t\u1eeb tr\u00e1i phi\u1ebfu ph\u00e1t h\u00e0nh. Qua \u0111\u00f3, s\u1ebd gi\u00fap th\u1ecb tr\u01b0\u1eddng tr\u1edf n\u00ean chuy\u00ean nghi\u1ec7p v\u00e0 ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng h\u01a1n trong d\u00e0i h\u1ea1n.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Mua l\u1ea1i tr\u00e1i phi\u1ebfu tr\u01b0\u1edbc h\u1ea1n \u0111\u1ec3 b\u1ea3o v\u1ec7 quy\u1ec1n v\u00e0 ngh\u0129a v\u1ee5 c\u1ee7a tr\u00e1i ch\u1ee7, \u0111\u1ed3ng th\u1eddi ng\u0103n ch\u1eb7n c\u00e1c c\u00f4ng ty vi ph\u1ea1m cam k\u1ebft v\u1ec1 tr\u00e1i phi\u1ebfu.<\/strong> Tr\u01b0\u1edbc \u0111\u00e2y, Ngh\u1ecb \u0111\u1ecbnh 153 kh\u00f4ng c\u00f3 ti\u00eau chu\u1ea9n n\u00e0y, Ngh\u1ecb \u0111\u1ecbnh 65 b\u1ed5 sung quy \u0111\u1ecbnh n\u00e0y. C\u1ee5 th\u1ec3, c\u00e1c tr\u01b0\u1eddng h\u1ee3p mua l\u1ea1i tr\u00e1i phi\u1ebfu tr\u01b0\u1edbc h\u1ea1n bao g\u1ed3m:\n<ul>\n<li>Doanh nghi\u1ec7p ph\u00e1t h\u00e0nh vi ph\u1ea1m ph\u00e1p lu\u1eadt v\u1ec1 ch\u00e0o b\u00e1n, giao d\u1ecbch tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p theo quy\u1ebft \u0111\u1ecbnh c\u1ee7a c\u1ea5p c\u00f3 th\u1ea9m quy\u1ec1n, m\u00e0 vi ph\u1ea1m \u0111\u00f3 kh\u00f4ng th\u1ec3 kh\u1eafc ph\u1ee5c ho\u1eb7c bi\u1ec7n ph\u00e1p kh\u1eafc ph\u1ee5c kh\u00f4ng \u0111\u01b0\u1ee3c 65% t\u1ef7 l\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1edf h\u1eefu tr\u00e1i phi\u1ebfu ch\u1ea5p thu\u1eadn.<\/li>\n<li>Doanh nghi\u1ec7p ph\u00e1t h\u00e0nh vi ph\u1ea1m ph\u01b0\u01a1ng \u00e1n ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu m\u00e0 vi ph\u1ea1m \u0111\u00f3 kh\u00f4ng th\u1ec3 kh\u1eafc ph\u1ee5c ho\u1eb7c bi\u1ec7n ph\u00e1p kh\u1eafc ph\u1ee5c kh\u00f4ng \u0111\u01b0\u1ee3c 65% t\u1ef7 l\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1edf h\u1eefu tr\u00e1i phi\u1ebfu ch\u1ea5p thu\u1eadn.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Kh\u00f4ng kh\u1eaft khe h\u01a1n v\u1ec1 \u0111i\u1ec1u ki\u1ec7n ch\u00e0o b\u00e1n tr\u00e1i phi\u1ebfu, nh\u01b0ng y\u00eau c\u1ea7u nhi\u1ec1u h\u01a1n v\u1ec1 h\u1ed3 s\u01a1 ch\u00e0o b\u00e1n tr\u00e1i phi\u1ebfu v\u00e0 ph\u01b0\u01a1ng th\u1ee9c ph\u00e1t h\u00e0nh.<\/strong> So v\u1edbi Ngh\u1ecb \u0111\u1ecbnh 153, Ngh\u1ecb \u0111\u1ecbnh 65 n\u00e2ng cao y\u00eau c\u1ea7u v\u1ec1 h\u1ed3 s\u01a1 ch\u00e0o b\u00e1n tr\u00e1i phi\u1ebfu, gi\u00fap t\u0103ng t\u00ednh minh b\u1ea1ch v\u1ec1 t\u01b0 c\u00e1ch t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh v\u00e0 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p. Quy \u0111\u1ecbnh n\u00e0y cho ph\u00e9p doanh nghi\u1ec7p \u0111\u1ee7 n\u0103ng l\u1ef1c, h\u1ed3 s\u01a1 minh b\u1ea1ch \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu v\u00e0 c\u01a1 c\u1ea5u l\u1ea1i c\u1ea5u tr\u00fac n\u1ee3 \u0111\u1ec3 ph\u00f9 h\u1ee3p v\u1edbi c\u01a1 c\u1ea5u t\u00e0i ch\u00ednh.<\/li>\n<\/ul>\n<p>Sau khi ngh\u1ecb \u0111\u1ecbnh m\u1edbi \u0111\u01b0\u1ee3c ban h\u00e0nh, ngay l\u1eadp t\u1ee9c gi\u00e1 tr\u1ecb tr\u00e1i phi\u1ebfu ph\u00e1t h\u00e0nh trong n\u0103m 2022 gi\u1ea3m xu\u1ed1ng 251,000 t\u1ef7 \u0111\u1ed3ng (-65% YoY). Th\u1ecb tr\u01b0\u1eddng B\u0110S di\u1ec5n ra cu\u1ed9c thanh l\u1ecdc nh\u1eefng c\u00f4ng ty y\u1ebfu k\u00e9m, thi\u1ebfu n\u0103ng l\u1ef1c v\u00e0 tr\u00ecnh \u0111\u1ed9 \u0111\u1ec3 ph\u00e1t tri\u1ec3n c\u00e1c d\u1ef1 \u00e1n B\u0110S. Tuy nhi\u00ean, ch\u00fang t\u00f4i cho r\u1eb1ng \u0111\u00f3 ch\u1ec9 l\u00e0 t\u1ea1m th\u1eddi. Trong t\u01b0\u01a1ng lai, vi\u1ec7c ho\u00e0n thi\u1ec7n ph\u00e1p l\u00fd quy tr\u00ecnh ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p s\u1ebd gi\u00fap quy tr\u00ecnh n\u00e0y d\u1ec5 ki\u1ec3m so\u00e1t v\u00e0 chuy\u00ean nghi\u1ec7p h\u01a1n.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/2.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8854\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/2.1.png\" alt=\"\" width=\"800\" height=\"224\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/2.1.png 948w, https:\/\/www.phfm.vn\/wp-content\/uploads\/2.1-768x215.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: HNX, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><strong><span style=\"font-size: 150%;\">B. C\u00c1C DOANH NGHI\u1ec6P PH\u00c1T TRI\u1ec2N B\u0110S \u0110ANG \u0110\u1ed0I M\u1eb6T KH\u00d3 KH\u0102N<\/span><\/strong><\/p>\n<p><strong><span style=\"font-size: 130%;\">I. Kh\u00f3 kh\u0103n cho nh\u00e0 ph\u00e1t tri\u1ec3n B\u0110S \u2013 Kh\u00f3 kh\u0103n trong ho\u1ea1t \u0111\u1ed9ng huy \u0111\u1ed9ng v\u1ed1n<\/span><\/strong><\/p>\n<p>Do \u0111\u1eb7c th\u00f9 c\u1ee7a ng\u00e0nh B\u0110S, c\u1ea5u tr\u00fac v\u1ed1n c\u1ee7a c\u00e1c doanh nghi\u1ec7p B\u0110S chi\u1ebfm s\u1ebd t\u1eadp trung ch\u1ee7 y\u1ebfu v\u00e0o: tr\u00e1i phi\u1ebfu, n\u1ee3 vay v\u00e0 \u1ee9ng tr\u01b0\u1edbc c\u1ee7a kh\u00e1ch h\u00e0ng l\u1ea7n l\u01b0\u1ee3t chi\u1ebfm kho\u1ea3ng 10%, 20% v\u00e0 10% trong c\u01a1 c\u1ea5u huy \u0111\u1ed9ng v\u1ed1n. Trong b\u1ed1i c\u1ea3nh c\u00e1c kho\u1ea3n vay ng\u00e2n h\u00e0ng th\u1eaft ch\u1eb7t, th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu b\u1ecb \u201cchao \u0111\u1ea3o\u201d v\u00e0 ho\u1ea1t \u0111\u1ed9ng m\u1edf b\u00e1n tr\u01b0\u1edbc ch\u1eadm l\u1ea1i, nhi\u1ec1u nh\u00e0 ph\u00e1t tri\u1ec3n B\u0110S ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c v\u1ea5n \u0111\u1ec1 v\u1ec1 d\u00f2ng ti\u1ec1n. \u0110i\u1ec1u n\u00e0y, khi\u1ebfn c\u00e1c doanh nghi\u1ec7p thi\u1ebfu v\u1ed1n \u0111\u1ec3 tri\u1ec3n khai d\u1ef1 \u00e1n \u0111\u00fang ti\u1ebfn \u0111\u1ed9. D\u1eabn \u0111\u1ebfn c\u00e1c doanh nghi\u1ec7p kh\u00f4ng \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n \u0111\u1ec3 thu ti\u1ec1n c\u1ee7a kh\u00e1ch h\u00e0ng, t\u1eeb \u0111\u00f3 ph\u00e1 v\u1ee1 c\u1ea5u tr\u00fac t\u00e0i ch\u00ednh c\u1ee7a d\u1ef1 \u00e1n. Nh\u1eefng y\u1ebfu t\u1ed1 tr\u00ean c\u00e0ng khi\u1ebfn th\u1ecb tr\u01b0\u1eddng B\u0110S tr\u1edf n\u00ean kh\u00f3 kh\u0103n v\u00e0 l\u00e0m t\u0103ng th\u00eam t\u00e2m l\u00fd hoang mang c\u1ee7a ng\u01b0\u1eddi mua nh\u00e0 tr\u01b0\u1edbc t\u00e2m l\u00fd \u201cmong manh\u201d c\u1ee7a th\u1ecb tr\u01b0\u1eddng B\u0110S.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/3.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8855\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/3.1.png\" alt=\"\" width=\"800\" height=\"280\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/3.1.png 910w, https:\/\/www.phfm.vn\/wp-content\/uploads\/3.1-768x269.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: Finpro, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><span style=\"font-size: 150%;\"><strong>II. \u00c1p l\u1ef1c tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n \u2013 C\u00e1c doanh nghi\u1ec7p g\u1eb7p kh\u00f3 kh\u0103n khi \u0111\u1ebfn k\u1ef3 thanh to\u00e1n<\/strong><\/span><\/p>\n<p>Theo s\u1ed1 li\u1ec7u t\u1eeb Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc, t\u1ed5ng d\u01b0 n\u1ee3 cho vay B\u0110S kho\u1ea3ng 2,330,000 t\u1ef7 \u0111\u1ed3ng (16.9% doanh nghi\u1ec7p ni\u00eam y\u1ebft v\u00e0 83.1% doanh nghi\u1ec7p ch\u01b0a ni\u00eam y\u1ebft), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng g\u1ea7n 21% t\u1ed5ng d\u01b0 n\u1ee3 n\u1ec1n kinh t\u1ebf. T\u1ed5ng gi\u00e1 tr\u1ecb tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p \u0111\u00e1o h\u1ea1n n\u0103m 2023 \u01b0\u1edbc t\u00ednh kho\u1ea3ng 235,000 t\u1ef7 \u0111\u1ed3ng, trong \u0111\u00f3 gi\u00e1 tr\u1ecb \u0111\u00e1o h\u1ea1n tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p B\u0110S kho\u1ea3ng 100,000 t\u1ef7 \u0111\u1ed3ng. Chi ti\u1ebft h\u01a1n, Qu\u00fd 2\/2022 v\u00e0 Qu\u00fd 3\/2023 s\u1ebd l\u00e0 giai \u0111o\u1ea1n \u201ccao \u0111i\u1ec3m\u201d c\u1ee7a k\u1ef3 h\u1ea1n tr\u00e1i phi\u1ebfu B\u0110S, v\u1edbi gi\u00e1 tr\u1ecb t\u01b0\u01a1ng \u1ee9ng l\u00e0 36,200 t\u1ef7 \u0111\u1ed3ng v\u00e0 35,400 t\u1ef7 \u0111\u1ed3ng. \u0110i\u1ec1u n\u00e0y s\u1ebd g\u00e2y \u00e1p l\u1ef1c l\u00ean d\u00f2ng ti\u1ec1n c\u1ee7a c\u00e1c doanh nghi\u1ec7p B\u0110S trong b\u1ed1i c\u1ea3nh t\u00edn d\u1ee5ng b\u1ecb ki\u1ec3m so\u00e1t ch\u1eb7t ch\u1ebd v\u00e0 t\u00e2m l\u00fd ng\u01b0\u1eddi mua nh\u00e0 y\u1ebfu.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/4.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8856\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/4.1.png\" alt=\"\" width=\"800\" height=\"257\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/4.1.png 947w, https:\/\/www.phfm.vn\/wp-content\/uploads\/4.1-768x247.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: HNX, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><span style=\"font-size: 130%;\"><strong>III. B\u1ea5t c\u00e2n x\u1ee9ng cung c\u1ea7u- Kh\u00f3 kh\u0103n \u1edf ho\u1ea1t \u0111\u1ed9ng b\u00e1n h\u00e0ng<\/strong><\/span><\/p>\n<p>Th\u1ecb tr\u01b0\u1eddng B\u0110S \u0111ang c\u00f3 s\u1ef1 b\u1ea5t \u0111\u1ed1i x\u1ee9ng gi\u1eefa ngu\u1ed3n cung nh\u00e0 \u1edf v\u00e0 nhu c\u1ea7u nh\u00e0 \u1edf th\u1ef1c. N\u0103m 2022, s\u1ed1 l\u01b0\u1ee3ng c\u0103n h\u1ed9 ch\u00e0o b\u00e1n t\u1ea1i TP.HCM \u0111\u1ea1t 12,000 c\u0103n (-16% YoY), trong \u0111\u00f3 ph\u00e2n kh\u00fac h\u1ea1ng sang, cao c\u1ea5p v\u00e0 trung c\u1ea5p chi\u1ebfm l\u1ea7n l\u01b0\u1ee3t 6%, 62% v\u00e0 32% ngu\u1ed3n cung. B\u00ean c\u1ea1nh \u0111\u00f3, m\u1eb7t b\u1eb1ng gi\u00e1 trung b\u00ecnh ti\u1ebfp t\u1ee5c t\u0103ng m\u1ea1nh t\u1eeb 1,118 USD\/m2 l\u00ean 2,546 USD\/m2 trong giai \u0111o\u1ea1n 1\/2020-4\/2022 do thi\u1ebfu v\u1eafng ph\u00e2n kh\u00fac b\u00ecnh d\u00e2n. Trong khi \u0111\u00f3, GDP b\u00ecnh qu\u00e2n \u0111\u1ea7u ng\u01b0\u1eddi c\u1ee7a Vi\u1ec7t Nam \u0111\u1ea1t 4,160 USD\/n\u0103m. Hi\u1ec7n t\u1ea1i, theo c\u01a1 c\u1ea5u d\u00e2n s\u1ed1, t\u1ef7 l\u1ec7 d\u00e2n th\u00e0nh th\u1ecb chi\u1ebfm 37% v\u00e0 63% ng\u01b0\u1eddi d\u00e2n \u1edf n\u00f4ng th\u00f4n. N\u00ean ch\u00fang t\u00f4i \u0111\u00e1nh gi\u00e1 r\u1eb1ng nhu c\u1ea7u nh\u00e0 \u1edf th\u1ef1c l\u00e0 t\u1eeb ph\u00e2n kh\u00fac nh\u00e0 \u1edf v\u1eeba t\u00fai ti\u1ec1n v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c c\u00e1c ch\u1ee7 \u0111\u1ea7u t\u01b0 \u0111\u00e1p \u1ee9ng th\u1ecfa \u0111\u00e1ng.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/5.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8857\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/5.1.png\" alt=\"\" width=\"800\" height=\"311\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/5.1.png 981w, https:\/\/www.phfm.vn\/wp-content\/uploads\/5.1-768x298.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: CBRE, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p>Do c\u00e1c y\u1ebfu t\u1ed1 v\u0129 m\u00f4 thay \u0111\u1ed5i nhanh ch\u00f3ng nh\u01b0 vi\u1ec7c h\u1ea1n ch\u1ebf t\u00edn d\u1ee5ng, m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t t\u0103ng, c\u00e1c v\u1ea5n \u0111\u1ec1 v\u1ec1 c\u1ea5p ph\u00e9p d\u1ef1 \u00e1n v\u1eabn c\u1ee9 ti\u1ebfp di\u1ec5n. Th\u00eam v\u00e0o \u0111\u00f3, trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf v\u00e0 khu v\u1ef1c c\u00f3 nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng, khi\u1ebfn c\u00e1c ch\u1ee7 \u0111\u1ea7u t\u01b0 c\u0169ng th\u1eadn tr\u1ecdng h\u01a1n khi m\u1edf b\u00e1n s\u1ea3n ph\u1ea9m m\u1edbi. Ngo\u00e0i ra, ch\u00fang t\u00f4i nh\u1eadn th\u1ea5y ngu\u1ed3n cung m\u1edbi s\u1ebd s\u1ee5t gi\u1ea3m do qu\u00e1 tr\u00ecnh ph\u00ea duy\u1ec7t d\u1ef1 \u00e1n c\u00f3 th\u1ec3 b\u1ecb tr\u00ec ho\u00e3n do ch\u1edd lu\u1eadt \u0110\u1ea5t \u0111ai s\u1eeda \u0111\u1ed5i ch\u00ednh th\u1ee9c c\u00f3 hi\u1ec7u l\u1ef1c.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/6.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8858\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/6.1.png\" alt=\"\" width=\"800\" height=\"311\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/6.1.png 961w, https:\/\/www.phfm.vn\/wp-content\/uploads\/6.1-768x299.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: CBRE, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><span style=\"font-size: 130%;\"><strong>IV. Tr\u01b0\u1eddng h\u1ee3p \u0111\u00e1ng ch\u00fa \u00fd \u2013 NVL<\/strong><\/span><\/p>\n<p>NVL l\u00e0 m\u1ed9t trong nh\u1eefng c\u00f4ng ty c\u00f3 qu\u1ef9 \u0111\u1ea5t l\u1edbn v\u1ec1 ph\u00e2n kh\u00fac B\u0110S ngh\u1ec9 d\u01b0\u1ee1ng, c\u00f9ng v\u1edbi s\u1edf h\u1eefu qu\u1ef9 \u0111\u1ea5t l\u1edbn t\u1ea1i trung t\u00e2m TP.HCM. Theo b\u00e1o c\u00e1o t\u00e0i ch\u00ednh n\u0103m 2022, t\u1ed5ng n\u1ee3 c\u1ee7a NVL l\u00e0 64,577 t\u1ef7 \u0111\u1ed3ng (+6.7% YTD), chi\u1ebfm kho\u1ea3ng 40% t\u1ed5ng d\u01b0 n\u1ee3 c\u1ee7a c\u00e1c doanh nghi\u1ec7p B\u0110S ni\u00eam y\u1ebft. V\u00ec v\u1eady, khi NVL kh\u00f4ng tr\u1ea3 \u0111\u01b0\u1ee3c n\u1ee3 s\u1ebd \u1ea3nh h\u01b0\u1edfng nghi\u00eam tr\u1ecdng \u0111\u1ebfn c\u00e1c ch\u1ee7 n\u1ee3. Ngo\u00e0i ra, NVL c\u00f3 c\u01a1 c\u1ea5u huy \u0111\u1ed9ng v\u1ed1n t\u1eeb tr\u00e1i phi\u1ebfu cao (chi\u1ebfm 35% c\u01a1 c\u1ea5u n\u1ee3 n\u0103m 2022). V\u1edbi t\u00ecnh h\u00ecnh hi\u1ec7n t\u1ea1i, vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n t\u1eeb k\u00eanh n\u00e0y b\u1ecb h\u1ea1n ch\u1ebf, c\u00e0ng l\u00e0m cho t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a NVL tr\u1edf n\u00ean kh\u00f3 kh\u0103n.<\/p>\n<p>N\u0103m 2022, t\u1ef7 l\u1ec7 n\u1ee3 vay\/v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu c\u1ee7a NVL l\u00e0 150%, l\u00e0 m\u1ed9t trong nh\u1eefng c\u00f4ng ty c\u00f3 t\u1ef7 l\u1ec7 n\u1ee3 vay cao nh\u1ea5t ng\u00e0nh. Do \u0111\u00f3, l\u00e3i su\u1ea5t khi l\u00e3i su\u1ea5t t\u0103ng cao h\u01a1n s\u1ebd c\u00e0ng l\u00e0m gia t\u0103ng chi ph\u00ed t\u00e0i ch\u00ednh cho c\u00f4ng ty.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/7.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8859\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/7.1.png\" alt=\"\" width=\"800\" height=\"352\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/7.1.png 962w, https:\/\/www.phfm.vn\/wp-content\/uploads\/7.1-768x338.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: Finpro, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/8.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-8860\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/8.1.png\" alt=\"\" width=\"800\" height=\"368\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/8.1.png 946w, https:\/\/www.phfm.vn\/wp-content\/uploads\/8.1-768x353.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: Finpro, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p>Ngo\u00e0i ra, hai m\u1ea3ng s\u1ea3n ph\u1ea9m ch\u00ednh c\u1ee7a NVL l\u00e0 B\u0110S nh\u00e0 \u1edf t\u1ea1i TP.HCM v\u00e0 B\u0110S ngh\u1ec9 d\u01b0\u1ee1ng t\u1ea1i c\u00e1c th\u00e0nh ph\u1ed1 v\u1ec7 tinh \u0111\u1ec1u g\u1eb7p kh\u00f3 kh\u0103n. H\u1ea7u h\u1ebft c\u00e1c d\u1ef1 \u00e1n c\u1ee7a NVL t\u1ea1i TP.HCM \u0111\u1ec1u g\u1eb7p v\u01b0\u1edbng m\u1eafc v\u1ec1 ph\u00e1p l\u00fd nh\u01b0 kh\u00f3 x\u00e1c \u0111\u1ecbnh s\u1ed1 ti\u1ec1n s\u1eed d\u1ee5ng \u0111\u1ea5t khi\u1ebfn d\u1ef1 \u00e1n b\u1ecb ch\u1eadm ti\u1ebfn \u0111\u1ed9. V\u1ec1 ph\u00e2n kh\u00fac B\u0110S ngh\u1ec9 d\u01b0\u1ee1ng, c\u00e1c s\u1ea3n ph\u1ea9m c\u1ee7a NVL thu\u1ed9c ph\u00e2n kh\u00fac cao c\u1ea5p, n\u00ean s\u1ebd ch\u1ecbu \u1ea3nh h\u01b0\u1edfng c\u1ee7a m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t cao d\u1eabn \u0111\u1ebfn k\u1ebft qu\u1ea3 kinh doanh kh\u00f4ng nh\u01b0 k\u1ef3 v\u1ecdng. Do \u0111\u00f3, c\u00f9ng v\u1edbi k\u1ebft qu\u1ea3 kinh doanh \u1ea3m \u0111\u1ea1m, kh\u00f3 kh\u0103n trong huy \u0111\u1ed9ng v\u1ed1n v\u00e0 qu\u1ea3n l\u00fd d\u00f2ng ti\u1ec1n c\u00e0ng khi\u1ebfn NVL g\u1eb7p kh\u00f3 kh\u0103n trong kh\u00e2u thanh to\u00e1n n\u1ee3 \u0111\u1ebfn h\u1ea1n.<\/p>\n<p><span style=\"font-size: 150%;\"><strong>C. C\u00c1C GI\u1ea2I PH\u00c1P T\u1eea CH\u00cdNH PH\u1ee6<\/strong><\/span><\/p>\n<p><strong><span style=\"font-size: 130%;\">I. H\u1ed7 tr\u1ee3 ngu\u1ed3n cung<\/span><\/strong><\/p>\n<p>Sau cu\u1ed9c h\u1ecdp to\u00e0n qu\u1ed1c do Th\u1ee7 t\u01b0\u1edbng ch\u1ee7 tr\u00ec ng\u00e0y 17\/2\/2023, Ch\u00ednh ph\u1ee7 \u0111\u00e3 ban h\u00e0nh d\u1ef1 th\u1ea3o ngh\u1ecb quy\u1ebft v\u1ec1 m\u1ed9t s\u1ed1 gi\u1ea3i ph\u00e1p \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng B\u0110S: (1) \u0110\u1ec1 ngh\u1ecb k\u00e9o d\u00e0i th\u1eddi gian tr\u1ea3 n\u1ee3 g\u1ed1c v\u00e0 l\u00e3i cho doanh nghi\u1ec7p kinh doanh B\u0110S; (2) Ti\u1ebfp t\u1ee5c c\u1ea5p t\u00edn d\u1ee5ng cho c\u00e1c d\u1ef1 \u00e1n B\u0110S c\u00f3 ph\u01b0\u01a1ng \u00e1n vay kh\u1ea3 thi, \u0111\u1ed1i t\u01b0\u1ee3ng kh\u00e1ch h\u00e0ng \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n vay v\u00e0 gi\u1ea3m l\u00e3i su\u1ea5t cho vay.<\/p>\n<p>N\u1ed5i b\u1eadt nh\u1ea5t g\u1ea7n \u0111\u00e2y l\u00e0 gi\u1ea3i ph\u00e1p c\u1ee7a Ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 k\u1ec3 \u0111\u1ebfn vi\u1ec7c ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 08\/2023\/N\u0110-CP v\u1ec1 ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p ri\u00eang l\u1ebb v\u00e0 k\u1ebf ho\u1ea1ch ho\u00e0n thi\u1ec7n lu\u1eadt \u0111\u1ea5t \u0111ai v\u00e0o n\u0103m 2023.<\/p>\n<p><strong>Gi\u1ea3i quy\u1ebft c\u00e1c kh\u00f3 kh\u0103n trong vi\u1ec7c ph\u00e1t h\u00e0nh ri\u00eang l\u1ebb<\/strong><\/p>\n<p>Ch\u00ednh ph\u1ee7 ti\u1ebfp t\u1ee5c ban h\u00e0nh Ngh\u1ecb \u0111\u1ecbnh 08\/2023\/N\u0110-CP v\u1ec1 ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p ri\u00eang l\u1ebb. Ch\u00fang t\u00f4i nh\u1eadn th\u1ea5y 2 l\u1ee3i \u00edch tr\u1ecdng y\u1ebfu c\u1ee7a ngh\u1ecb \u0111\u1ecbnh n\u00e0y:<\/p>\n<ul>\n<li>Cho ph\u00e9p t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu c\u00f3 th\u00eam th\u1eddi gian \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh. C\u1ee5 th\u1ec3, chuy\u1ec3n th\u1eddi h\u1ea1n th\u1ef1c hi\u1ec7n Ngh\u1ecb \u0111\u1ecbnh n\u00e0y t\u1eeb \u0111\u1ea7u n\u0103m 2023 sang \u0111\u1ea7u n\u0103m 2024. \u0110i\u1ec1u n\u00e0y s\u1ebd gi\u00fap doanh nghi\u1ec7p c\u00f3 th\u00eam th\u1eddi gian \u0111\u1ec3 c\u01a1 c\u1ea5u l\u1ea1i tr\u00e1i phi\u1ebfu, gi\u1ea3m thi\u1ec3u r\u1ee7i ro v\u1ee1 n\u1ee3.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>T\u1ea1o ra c\u01a1 s\u1edf cho c\u00e1c gi\u1ea3i ph\u00e1p trong t\u01b0\u01a1ng lai nh\u01b0 th\u00f4ng qua \u0111\u00e0m ph\u00e1n, t\u00e1i c\u01a1 c\u1ea5u ho\u1eb7c ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n \u0111\u1ec3 l\u1ea5y tr\u00e1i phi\u1ebfu s\u1eafp \u0111\u00e1o h\u1ea1n trong \u0111i\u1ec1u ki\u1ec7n c\u00e1c t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh g\u1eb7p kh\u00f3 kh\u0103n. \u0110i\u1ec1u n\u00e0y \u0111\u00e3 gi\u00fap gi\u1ea3m r\u1ee7i ro v\u1ee1 n\u1ee3 cho doanh nghi\u1ec7p.<\/li>\n<\/ul>\n<p><strong>Th\u00e1o g\u1ee1 \u201cn\u00fat th\u1eaft\u201d ph\u00e1p l\u00fd<\/strong><\/p>\n<p>Theo l\u1ed9 tr\u00ecnh t\u1eeb Qu\u1ed1c h\u1ed9i, Lu\u1eadt Nh\u00e0 \u1edf v\u00e0 Lu\u1eadt \u0110\u1ea5t \u0111ai s\u1eeda \u0111\u1ed5i s\u1ebd l\u1ea7n l\u01b0\u1ee3t \u0111\u01b0\u1ee3c th\u00f4ng qua v\u00e0o th\u00e1ng 5 v\u00e0 th\u00e1ng 10 n\u0103m 2023 sau khi tr\u00ecnh Qu\u1ed1c h\u1ed9i v\u00e0 l\u1ea5y \u00fd ki\u1ebfn c\u1ee7a ng\u01b0\u1eddi d\u00e2n. Lu\u1eadt \u0110\u1ea5t \u0111ai s\u1eeda \u0111\u1ed5i \u0111\u01b0\u1ee3c ho\u00e0n thi\u1ec7n s\u1ebd b\u00e1m s\u00e1t theo h\u01b0\u1edbng d\u1eabn t\u1eeb Ngh\u1ecb quy\u1ebft 18-NQTW, ng\u00e0y 16\/6\/2022, trong \u0111\u00f3 thay \u0111\u1ed5i \u0111\u00e1ng ch\u00fa \u00fd nh\u1ea5t ch\u00ednh l\u00e0 b\u1ecf khung gi\u00e1 \u0111\u1ea5t. Qua \u0111\u00f3, \u0111i\u1ec3m nh\u1ea5n \u0111\u00e1ng ch\u00fa \u00fd nh\u1ea5t m\u00e0 ch\u00fang t\u00f4i hy v\u1ecdng s\u1ebd g\u00f3p ph\u1ea7n th\u00e1o g\u1ee1 kh\u00f3 kh\u0103n c\u1ee7a th\u1ecb tr\u01b0\u1eddng B\u0110S:<\/p>\n<ul>\n<li>Ho\u00e0n thi\u1ec7n vi\u1ec7c s\u1eeda \u0111\u1ed5i Lu\u1eadt \u0110\u1ea5t \u0111ai 2013 v\u00e0 c\u00e1c lu\u1eadt kh\u00e1c c\u00f3 li\u00ean quan s\u1ebd gi\u00fap gi\u1ea3i quy\u1ebft c\u00e1c v\u1ea5n \u0111\u1ec1 v\u1ec1 giao \u0111\u1ea5t, cho thu\u00ea \u0111\u1ea5t th\u00f4ng qua \u0111\u1ea5u gi\u00e1. Lu\u1eadt s\u1ebd quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 c\u00e1c tr\u01b0\u1eddng h\u1ee3p giao \u0111\u1ea5t, cho thu\u00ea \u0111\u1ea5t ph\u1ea3i \u0111\u1ea5u gi\u00e1 quy\u1ec1n s\u1eed d\u1ee5ng \u0111\u1ea5t ho\u1eb7c \u0111\u1ea5u th\u1ea7u d\u1ef1 \u00e1n c\u00f3 s\u1eed d\u1ee5ng \u0111\u1ea5t theo quy \u0111\u1ecbnh c\u1ee7a ph\u00e1p lu\u1eadt. \u0110i\u1ec1u n\u00e0y s\u1ebd \u0111\u1ea3m b\u1ea3o t\u00ednh minh b\u1ea1ch, c\u00f4ng b\u1eb1ng trong vi\u1ec7c giao \u0111\u1ea5t, cho thu\u00ea \u0111\u1ea5t, n\u00e2ng cao hi\u1ec7u qu\u1ea3 s\u1eed d\u1ee5ng \u0111\u1ea5t. Ngo\u00e0i ra, vi\u1ec7c gi\u1ea3i quy\u1ebft c\u00e1c v\u1ea5n \u0111\u1ec1 ph\u00e1t sinh t\u1eeb c\u00e1c d\u1ef1 \u00e1n li\u00ean quan \u0111\u1ebfn \u0111\u1ea5t c\u00f4ng s\u1ebd \u0111\u01b0\u1ee3c gi\u1ea3i quy\u1ebft d\u1ee9t \u0111i\u1ec3m. Nh\u1edd \u0111\u00f3, nh\u1eefng v\u01b0\u1edbng m\u1eafc c\u00f2n t\u1ed3n \u0111\u1ecdng t\u1ea1i m\u1ed9t s\u1ed1 d\u1ef1 \u00e1n s\u1ebd \u0111\u01b0\u1ee3c gi\u1ea3i quy\u1ebft, mang l\u1ea1i doanh thu cho doanh nghi\u1ec7p v\u00e0 t\u0103ng ngu\u1ed3n cung cho th\u1ecb tr\u01b0\u1eddng.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>B\u1ecf b\u1ea3ng gi\u00e1 \u0111\u1ea5t v\u00e0 s\u1eed d\u1ee5ng gi\u00e1 \u0111\u1ea5t theo ph\u01b0\u01a1ng ph\u00e1p tham chi\u1ebfu theo gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng s\u1ebd g\u00f3p ph\u1ea7n n\u00e2ng cao ch\u1ea5t l\u01b0\u1ee3ng \u0111\u1ecbnh gi\u00e1 \u0111\u1ea5t v\u00e0 \u0111\u1ea3m b\u1ea3o t\u00ednh \u0111\u1ed9c l\u1eadp c\u1ee7a h\u1ed9i \u0111\u1ed3ng th\u1ea9m \u0111\u1ecbnh gi\u00e1. Tr\u01b0\u1edbc \u0111\u00f3, ti\u1ebfn \u0111\u1ed9 d\u1ef1 \u00e1n b\u1ecb ch\u1eadm do v\u01b0\u1edbng m\u1eafc trong vi\u1ec7c x\u00e1c \u0111\u1ecbnh ti\u1ec1n s\u1eed d\u1ee5ng \u0111\u1ea5t v\u00e0 th\u1ee7 t\u1ee5c th\u1ea9m \u0111\u1ecbnh k\u00e9o d\u00e0i. T\u1eeb \u0111\u00f3, ch\u00fang t\u00f4i k\u1ef3 v\u1ecdng t\u1ed1c \u0111\u1ed9 ph\u00e1t tri\u1ec3n d\u1ef1 \u00e1n s\u1ebd \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh v\u00e0 gi\u00fap gi\u1ea3m chi ph\u00ed t\u00e0i ch\u00ednh cho c\u00e1c doanh nghi\u1ec7p ph\u00e1t tri\u1ec3n d\u1ef1 \u00e1n B\u0110S.<\/li>\n<\/ul>\n<p>\u0110\u00e1ng ch\u00fa \u00fd, d\u1ef1 ki\u1ebfn n\u0103m 2023, Lu\u1eadt \u0110\u1ea5t \u0111ai s\u1eeda \u0111\u1ed5i s\u1ebd ho\u00e0n th\u00e0nh. V\u00ec v\u1eady, ch\u00fang t\u00f4i k\u1ef3 v\u1ecdng nh\u1eefng &#8216;n\u00fat th\u1eaft&#8217; ph\u00e1p l\u00fd s\u1ebd t\u1eebng b\u01b0\u1edbc \u0111\u01b0\u1ee3c th\u00e1o g\u1ee1.<\/p>\n<p><span style=\"font-size: 130%;\"><strong>II. H\u1ed7 tr\u1ee3 nhu c\u1ea7u<\/strong><\/span><\/p>\n<p>C\u00e1c g\u00f3i t\u00edn d\u1ee5ng nh\u00e0 \u1edf x\u00e3 h\u1ed9i \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u1ec3 h\u1ed7 tr\u1ee3 k\u00edch c\u1ea7u cho th\u1ecb tr\u01b0\u1eddng B\u0110S. Ch\u00ednh ph\u1ee7 giao Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc ch\u1ee7 tr\u00ec th\u1ef1c hi\u1ec7n ch\u01b0\u01a1ng tr\u00ecnh t\u00edn d\u1ee5ng kho\u1ea3ng 120,000 t\u1ef7 \u0111\u1ed3ng, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 12% nhu c\u1ea7u v\u1ed1n. \u0110i\u1ec1u n\u00e0y h\u1ed7 tr\u1ee3 cho k\u1ebf ho\u1ea1ch m\u1ee5c ti\u00eau c\u00f3 \u00edt nh\u1ea5t m\u1ed9t tri\u1ec7u c\u0103n h\u1ed9, nh\u00e0 \u1edf x\u00e3 h\u1ed9i trong giai \u0111o\u1ea1n 2021-2030. Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc ch\u1ec9 \u0111\u1ea1o c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i v\u00e0 4 ng\u00e2n h\u00e0ng ch\u1ee7 l\u1ef1c l\u00e0 Agribank, BIDV, Vietcombank, Vietinbank tri\u1ec3n khai g\u00f3i t\u00edn d\u1ee5ng n\u00e0y. Qua \u0111\u00f3, ch\u00fang t\u00f4i k\u1ef3 v\u1ecdng nhu c\u1ea7u th\u1ef1c v\u1ec1 nh\u00e0 \u1edf c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c gi\u1ea3i quy\u1ebft.<\/p>\n<p><span style=\"font-size: 150%;\"><strong>D. \u0110I\u1ec0U G\u00cc S\u1ebc X\u1ea2Y RA TI\u1ebeP THEO<\/strong><\/span><\/p>\n<p>Theo ch\u00fang t\u00f4i, ch\u00fang ta s\u1ebd th\u1ea5y nh\u1eefng ng\u00f4i sao \u0111ang l\u00ean t\u1eeb nh\u1eefng tay ch\u01a1i m\u1edbi trong ph\u00e2n kh\u00fac nh\u00e0 \u1edf v\u1eeba t\u00fai ti\u1ec1n, \u0111i\u1ec3n h\u00ecnh l\u00e0 CTCP Ph\u00e1t tri\u1ec3n H\u1ea1 t\u1ea7ng k\u1ef9 thu\u1eadt (m\u00e3: IJC), C\u00f4ng ty TNHH Th\u01b0\u01a1ng m\u1ea1i &#8211; X\u00e2y d\u1ef1ng L\u00ea Th\u00e0nh. Tuy nhi\u00ean, ch\u00fang t\u00f4i \u0111\u00e1nh gi\u00e1 r\u1eb1ng th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 t\u0103ng tr\u01b0\u1edfng nh\u1edd ph\u00e2n kh\u00fac n\u00e0y trong ng\u1eafn h\u1ea1n. Do gi\u1edbi h\u1ea1n 10% tr\u00ean bi\u00ean l\u1ee3i nhu\u1eadn r\u00f2ng, ch\u00fang t\u00f4i cho r\u1eb1ng c\u00e1c ch\u1ee7 \u0111\u1ea7u t\u01b0 B\u0110S s\u1ebd ph\u00e1t tri\u1ec3n ph\u00e2n kh\u00fac n\u00e0y \u1edf m\u1ed9t m\u1ee9c \u0111\u1ed9 nh\u1ea5t \u0111\u1ecbnh. Qu\u1ef9 \u0111\u1ea5t c\u00f2n l\u1ea1i s\u1ebd \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 \u0111\u1ec3 ph\u00e1t tri\u1ec3n c\u00e1c d\u1ef1 \u00e1n \u1edf ph\u00e2n kh\u00fac c\u00f3 m\u1ee9c sinh l\u1eddi cao h\u01a1n.<\/p>\n<p>Li\u00ean quan \u0111\u1ebfn t\u00ecnh h\u00ecnh c\u1ee7a c\u00e1c nh\u00e0 ph\u00e1t tri\u1ec3n hi\u1ec7n t\u1ea1i, c\u00f3 hai k\u1ecbch b\u1ea3n m\u00e0 ch\u00fang t\u00f4i cho r\u1eb1ng s\u1ebd x\u1ea3y ra. V\u00e0 ch\u00fang t\u00f4i cho r\u1eb1ng k\u1ecbch b\u1ea3n 2 s\u1ebd c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng x\u1ea3y ra trong t\u01b0\u01a1ng lai.<\/p>\n<p><a href=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/9.1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-8861 aligncenter\" src=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/9.1.png\" alt=\"\" width=\"800\" height=\"377\" srcset=\"https:\/\/www.phfm.vn\/wp-content\/uploads\/9.1.png 914w, https:\/\/www.phfm.vn\/wp-content\/uploads\/9.1-768x362.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p style=\"text-align: right;\"><em>Ngu\u1ed3n: Finpro, PHFM t\u1ed5ng h\u1ee3p.<\/em><\/p>\n<p><strong>K\u1ecbch b\u1ea3n 1 &#8211; Ti\u00eau c\u1ef1c:<\/strong> Nhi\u1ec1u \u00f4ng l\u1edbn B\u0110S \u0111ang ph\u1ea3i g\u1ed3ng m\u00ecnh kh\u1eafc ph\u1ee5c v\u00e0 tr\u1ea3 c\u00e1c kho\u1ea3n n\u1ee3 \u0111\u1ebfn h\u1ea1n. \u0110\u00e1ng ch\u00fa \u00fd, NVL v\u00e0 HPX s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y l\u1edbn trong nh\u1eefng n\u0103m qua. C\u00e1c c\u00f4ng ty n\u00e0y \u0111\u00e3 duy tr\u00ec t\u1ef7 l\u1ec7 n\u1ee3 r\u00f2ng\/v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu tr\u00ean m\u1ed9t trong nhi\u1ec1u giai \u0111o\u1ea1n. Ch\u00fang t\u00f4i \u0111\u00e3 quan s\u00e1t th\u1ea5y r\u1eb1ng c\u00e1c nh\u00e0 ph\u00e1t tri\u1ec3n s\u1ebd kh\u00f4ng tr\u1ea3 \u0111\u01b0\u1ee3c n\u1ee3 cho m\u1ed9t s\u1ed1 kho\u1ea3n thanh to\u00e1n g\u1ed1c v\u00e0 l\u00e3i tr\u00e1i phi\u1ebfu. V\u00e0 th\u1ecb tr\u01b0\u1eddng B\u0110S c\u00f3 th\u1ec3 ch\u1ee9ng ki\u1ebfn nhi\u1ec1u \u201ctay ch\u01a1i\u201d ng\u00e3 ng\u1ef1a.<\/p>\n<p><strong>K\u1ecbch b\u1ea3n 2 &#8211; T\u00edch c\u1ef1c:<\/strong> C\u00e1c c\u00f4ng ty B\u0110S s\u1ebd v\u01b0\u1ee3t qua kh\u00f3 kh\u0103n. Th\u1ecb tr\u01b0\u1eddng B\u0110S s\u1ebd h\u1ed3i ph\u1ee5c nh\u1edd ngh\u1ecb \u0111\u1ecbnh h\u1ed7 tr\u1ee3 tr\u00e1i phi\u1ebfu v\u00e0 lu\u1eadt \u0111\u1ea5t \u0111ai c\u00f3 hi\u1ec7u l\u1ef1c v\u00e0o n\u0103m 2024, nh\u01b0 \u0111\u00e3 \u0111\u1ec1 c\u1eadp \u1edf tr\u00ean. C\u00e1c nh\u00e0 ph\u00e1t tri\u1ec3n B\u0110S \u0111ang tr\u1ea3i qua qu\u00e1 tr\u00ecnh t\u00e1i c\u1ea5u tr\u00fac bao g\u1ed3m thanh l\u00fd t\u00e0i s\u1ea3n \u0111\u1ec3 gi\u1ea3m b\u1edbt \u00e1p l\u1ef1c d\u00f2ng ti\u1ec1n.<\/p>\n<p>M\u1edbi \u0111\u00e2y, m\u1ed9t trong nh\u1eefng nh\u00e2n s\u1ef1 ch\u1ee7 ch\u1ed1t t\u1eebng l\u00e0m vi\u1ec7c t\u1ea1i Gamuda Land, nh\u00e0 ph\u00e1t tri\u1ec3n B\u0110S \u0111\u1ebfn t\u1eeb Malaysia, \u0111\u00e3 tr\u1edf th\u00e0nh t\u00e2n T\u1ed5ng Gi\u00e1m \u0111\u1ed1c c\u1ee7a NVL. \u0110\u1ed9ng th\u00e1i n\u00e0y nh\u1ea5n m\u1ea1nh t\u1ea7m quan tr\u1ecdng c\u1ee7a m\u1ed1i quan h\u1ec7 h\u1ee3p t\u00e1c gi\u1eefa NVL v\u00e0 Gamuda, \u0111\u1eb7c bi\u1ec7t trong qu\u00e1 tr\u00ecnh mua b\u00e1n d\u1ef1 \u00e1n.<\/p>\n<p>Trong m\u1ed9t th\u01b0\u01a1ng v\u1ee5 kh\u00e1c, T\u1eadp \u0111o\u00e0n B\u0110S kh\u1ed5ng l\u1ed3 CapitaLand c\u1ee7a Singapore \u0111ang \u0111\u00e0m ph\u00e1n \u0111\u1ec3 mua t\u00e0i s\u1ea3n tr\u1ecb gi\u00e1 kho\u1ea3ng 1.5 t\u1ef7 USD t\u1eeb c\u00f4ng ty B\u0110S l\u1edbn nh\u1ea5t Vi\u1ec7t Nam l\u00e0 C\u00f4ng ty C\u1ed5 ph\u1ea7n Vinhomes (m\u00e3: VHM). B\u00ean c\u1ea1nh \u0111\u00f3, VHM th\u00f4ng b\u00e1o \u0111\u00e3 chuy\u1ec3n nh\u01b0\u1ee3ng to\u00e0n b\u1ed9 c\u1ed5 ph\u1ea7n t\u1ea1i 2 c\u00f4ng ty con Ph\u00e1t \u0110\u1ea1t v\u00e0 Tr\u01b0\u1eddng L\u1ed9c. Gi\u00e1 tr\u1ecb chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 \u0111\u1ed1i t\u00e1c ch\u01b0a \u0111\u01b0\u1ee3c ti\u1ebft l\u1ed9.","protected":false},"excerpt":{"rendered":"<p>Sau khi d\u1ecbch Covid-19 ho\u00e0n to\u00e0n \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t, th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n (B\u0110S) b\u1eaft \u0111\u1ea7u ph\u1ee5c h\u1ed3i. Tuy nhi\u00ean, b\u01b0\u1edbc sang n\u0103m 2022, th\u1ecb tr\u01b0\u1eddng s\u1ee5t gi\u1ea3m c\u1ea3 ngu\u1ed3n cung v\u00e0 nhu c\u1ea7u do ch\u00ednh s\u00e1ch th\u1eaft ch\u1eb7t t\u00edn d\u1ee5ng v\u00e0 tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p sau nh\u1eefng scandal c\u1ee7a c\u00e1c t\u1eadp \u0111o\u00e0n nh\u01b0&#8230;<\/p>\n","protected":false},"author":3,"featured_media":8747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/8730"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=8730"}],"version-history":[{"count":37,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/8730\/revisions"}],"predecessor-version":[{"id":9022,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/8730\/revisions\/9022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/8747"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=8730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=8730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=8730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}