Morning news 8/23: Instructions on paying social insurance for soldiers; Youngest chairman of securities industry resigns

Ministry of National Defense guides compulsory social insurance contribution levels for military personnel

According to the Vietnam Social Security (VSS), the Ministry of National Defense has issued a circular regulating compulsory social insurance participation for soldiers and people working in key positions who receive military salaries. The circular takes effect from October 2, 2025.

Participants include: officers, professional soldiers, people working in secret services receiving salaries like soldiers; non-commissioned officers, soldiers; military and secret service students receiving living expenses.

In case these people go to study, work, research or receive medical treatment abroad but still receive salary, military rank allowance, and living expenses, they are still entitled to pay and enjoy social insurance benefits.

Employers participating in compulsory social insurance include agencies, units, organizations and individuals related to the implementation of social insurance policies for the above subjects.

Regarding the contribution level and salary used as the basis for social insurance contribution, the guidance states that in the first 2 years from the month and year of enlistment (full 24 months), the contribution is equal to 22% of 2 times the reference level.

From the third year, each year the reference level will increase by 0.5 times, up to a maximum of 4 times. Currently, the reference level is equal to the basic salary, which is 2.34 million VND/month.

For officers, professional soldiers, and people working in secretarial work who receive salaries as soldiers and who fall ill due to duty, natural disasters, fires, epidemics, or rescue and relief work and must take 14 days or more off work in a month, the Ministry of National Defense will pay social insurance from the state budget.

This period is still counted as the period of participation in social insurance. The salary used as the basis for social insurance payment is the salary of the month immediately preceding the illness.

Youngest Chairman of Securities Industry Resigns

Hoa Binh Securities Company (HBS) has just announced that Mr. Le Dinh Duong has submitted his resignation from the position of Chairman of the Board of Directors for personal reasons.

The move comes as the company is accusing the former leader of profiting from an incident that occurred in 2021. Previously, Mr. Duong was appointed to the position of chairman from August 2023, succeeding Mr. Trinh Thanh Giang.

Both were elected to the board of directors for the 2023-2028 term at the 2023 annual general meeting of shareholders. Initially, Mr. Giang held the position of chairman but then withdrew and Mr. Duong took over.

Mr. Le Dinh Duong was born in 2003 and is known as the youngest chairman in the securities industry today.

This person is the son of Ms. Nguyen Thi Loan - former chairwoman of HBS, who was prosecuted by Hanoi City Police in November 2021 related to land violations in Dong Anh area.

Novaland wants to sell its subsidiary Nova Property Management

No Va Real Estate Investment Group Joint Stock Company - Novaland (NVL) has just announced the resolution of the board of directors on approving the policy of transferring all capital contributions owned at Nova Property Management Company Limited (Nova Property).

Nova Property is a subsidiary in which Novaland owns 99.99% of charter capital.

According to the resolution, after completing the transfer, this enterprise will no longer be a subsidiary of Novaland.

Novaland agrees to authorize the company's legal representative or general director to decide the time of transfer, the transferee, decide the transfer price not lower than the investment cost and sign relevant agreements, contracts and documents in accordance with the company's regulations and current laws.

Foreign investors net sold thousands of billions in a session when stocks fell deeply.

At the end of the session on August 22, VN-Index closed at 1,645.47 points, down 42.53 points, equivalent to 2.52%.

In this session, foreign investors continued to maintain a net selling status with a total value of VND 1,521 billion in the whole market. On the HOSE floor alone, foreign capital had its 11th consecutive net selling session.

The focus of capital withdrawal this session was on HPG of Hoa Phat Group, when this code was net sold up to 1,042 billion VND, equivalent to nearly 39.2 million shares - an overwhelming number compared to other codes. Following was VPB of the banking group with 324.6 billion VND.

The list of stocks that were strongly sold also included: VNM (VND 96 billion), VCB (VND 9 billion), DXG (VND 92.1 billion), FPT (VND 77 billion), E1VFVN30 fund certificate (VND 70 billion), SSI (VND 69 billion) and GEX (VND 64 billion).

On the other hand, foreign investors returned to disburse in some stocks. VIX led with a net purchase value of VND181 billion, followed by PDR with VND132 billion.