PVEP exceeds numerous set targets in Q1 Business

PVEP exceeds numerous set targets in Q1

The PetroVietnam Exploration Production Corporation (PVEP) has fulfilled its yearly profit target for 2022 by the end of the first quarter of the year, earning an estimated 5,892 billion VND (nearly 258 million USD) in pre-tax profit, up 117 percent year-on-year and surpassing the yearly plan by 2 percent.
VAT reduction: impacts and problems in implementation Business

VAT reduction: impacts and problems in implementation

Vietnam’s Government slashed the value-added tax (VAT) rate from 10 to 8 percent earlier this month – a move that cost the State budget 49.4 trillion VND (2.2 billion USD) but, along with other support, is expected to help boost the pandemic-hit economy.
Gov’t identifies three focal tasks to fuel economic development Business

Gov’t identifies three focal tasks to fuel economic development

The Government has identified three focal tasks for economic development in 2022, noting that it will capitalise on every opportunity to promote socio-economic recovery and development nationwide, maintain long-term growth momentum, and make use of new and sustainable drivers.
Government proposes 12.8-billion-USD package for socio-economic recovery support Business

Government proposes 12.8-billion-USD package for socio-economic recovery support

A package of fiscal and monetary solutions worth a total of 291 trillion VND (nearly 12.8 billion USD) to support socio-economic recovery and development has been proposed by the Government in a draft resolution delivered by Minister of Planning and Investment Nguyen Chi Dung, at the first extraordinary session of the 15th National Assembly (NA)
Finance Ministry announces State budget estimates for 2022 Business

Finance Ministry announces State budget estimates for 2022

State budget collection in 2022 is expected to reach over 1.41 quadrillion VND (61.7 billion USD), while expenditure is estimated at about 1.78 quadrillion VND (78.05 billion USD), up 4.5 percent compared to that in 2021, according to a report on State budget estimates for 2022 that has been made public by the Ministry of Finance.
Hanoi’s GRDP up 6.69 percent in Q4 Business

Hanoi’s GRDP up 6.69 percent in Q4

Hanoi’s Gross Regional Domestic Products (GRDP) was estimated to increase by 6.69 percent in the fourth quarter of 2021, and by 2.92 percent in the whole year, the municipal Department of Planning and Investment reported.