Industrial production in the northern province of Ha Nam totalled 110.69 trillion VND (nearly 4.78 billion USD) last year, a 19 percent increase against 2019 and 5 percent higher than the annual plan, despite the impact of the COVID-19 pandemic.
The General Department of Vietnam Customs has put forward various policies to accelerate public administrative reforms and support domestic exporters and importers since the beginning of this year in response to the impacts of the COVID-19 pandemic.
Developing corporate culture is a core issue and crucial to the growth of businesses, Deputy Prime Minister Truong Hoa Binh told a forum on economic reconstruction in the “new normal” situation from the perspective of corporate culture which took place in Hanoi on November 8.
Deputy Prime Minister Truong Hoa Binh has urged the Vietnam Oil and Gas Group (PetroVietnam) to enhance its capacity in petroleum exploration and exploitation to develop the marine economy in the new context.
State budget revenue in the first half of 2020 was down 10.5 percent against a year earlier and equal to just 44.2 percent of the annual estimate; the lowest since 2013, Minister of Finance Dinh Tien Dung told a conference in Hanoi on July 7.
The National Assembly on June 19 passed a resolution on reducing corporate income tax in 2020 for enterprises, cooperatives, public non-production agencies and other organisations, with 91.1 percent of votes.
The State Audit of Vietnam (SAV), through its regular auditing activities, has discovered many violations of law by foreign-invested enterprises in various fields such as environmental protection, land use, and transfer pricing, said Deputy Auditor General Doan Xuan Tien.
More than 3,000 business households were dissolved or suspended their operations in Hanoi in the first two months of this year due to the impact of the COVID-19 outbreak.
The State budget’s domestic revenue in the first eight months of 2019 is estimated at 808.8 trillion VND (34.8 billion USD), according to the Ministry of Finance.
Preferential policies should be applied selectively, targeting FDI businesses with effective operation rather than the scale of investment, Deputy Prime Minister Vuong Dinh Hue said at a working session with the Ministry of Finance in Hanoi on February 28.
NA deputies are to vote on a resolution on socio-economic development plan for 2019 during their sitting on November 8 within the framework of the NA’s ongoing 6thsession.
Total State budget revenue in HCM City reached 347.98 trillion VND (15.32 billion USD) in 2017, slightly more than the year’s target, and up 13.5 percent compared to 2016, according to the city’s State Treasury.
The Ministry of Finance (MoF) expects to keep this year’s State budget deficit at 3.7 percent of the GDP, below the 3.9 percent mandated by the National Assembly.
The Taxation Department of the northeastern coastal province of Quang Ninh has taken measures to deal with tax arrears of businesses in order to fulfil the state budget collection target this year.
State budget revenues falling short of the half-way mark in the first six months of the year is a normal feature of the domestic economy and does not preclude meeting the annual target.
The Vietnamese legal framework and policies regarding transparency in the mining sector is "fairly comprehensive", however, implementation of such policies leaves a lot to be desired, according to a study by the Vietnam Chamber of Commerce and Industry (VCCI).
Prime Minister Nguyen Xuan Phuc asked the Finance Ministry to take prompt measures to collect revenues for the State budget from the beginning of the year at a teleconference in Hanoi on January 6.
The Government will submit a tax reduction plan to the National Assembly this month, which aims to meet a target of increasing the number of efficient enterprises nationwide to one million by 2020.
Business
