The Vietnam Oil and Gas Group (PetroVietnam) has surpassed important business and financial targets set for the first nine months of 2021, with its contribution to the State budget fulfiling the yearly plan.
State budget collection from import-export activities reached 285.62 trillion VND (12.53 billion USD) in the first nine months of this year, equivalent to 90.6 percent of the estimate and a year-on-year rise of 25.83 percent.
Indonesia's House of Representatives has approved the 2022 state budget bill, marking the beginning of the process of fiscal consolidation of the largest economy in Southeast Asia after nearly two years of heavy spending on COVID-19 response efforts.
The Government has issued a resolution on support for pandemic-hit workers and employers, and the aid will be sourced from the unemployment insurance fund.
National Assembly (NA) Chairman Vuong Dinh Hue has signed a resolution on the provision of support to labourers and employers affected by COVID-19 using the unemployment insurance fund.
More than 206 trillion VND (9 billion USD) worth of Government bonds has been raised for the State budget annually. This accounts for almost 10 percent of total investment in society in 2020 and 28.3 percent of the investment by the State sector last year.
Finance Minister Ho Duc Phoc has affirmed that the State budget is enough for expenditures planned by the National Assembly (NA) and the Prime Minister.
The PetroVietnam Exploration Production Corporation (PVEP), has surpassed all of its business goals, with the contribution to the State Budget 7 percent higher than the year’s plan.
Binh Son Refining and Petrochemical Joint Stock Company (BSR) paid more than 6.33 trillion VND (nearly 278 million USD) to the state budget in the past 8 months.
The Ministry of Planning and Investment estimates the total State budget to reach 516.7 trillion VND (22.6 billion USD) in 2022, up 8.3 percent against 2021’s plan.
The Vietnam Oil and Gas Group (PetroVietnam) reported that its pre-tax profit in the first eight months of the year surpassed the set plan by 177 percent and tripled the figure for the same period last year, reaching 30.2 trillion VND (1.32 billion USD).
The State Audit Office of Vietnam (SAV) has detected a number of loopholes in the management and use of State capital and assets at enterprises through its audit activities last year.
The southern province of Ba Ria-Vung Tau has urged the Ministry of Industry and Trade and the Vietnam Electricity (EVN) to promptly allocate funding to a project to connect Con Dao island of the province with the national grid, with nearly 2.53 trillion VND (110.88 million USD) to be channeled from the State budget in the 2021-25 period.
Vietnam’s largest steelmaker Hoa Phat Group has announced that it contributed over 6.3 trillion VND (about 276 million USD) to the State budget in the first seven months of the year, posting a year-on-year jump of 94 percent.
Indonesia will earmark 384.8 trillion rupiah (26.7 billion USD) from the state budget in 2022 for infrastructure development, said President Joko Widodo.
The Indonesian government aims to cut the State budget deficit to 868 trillion IDR (60.38 billion USD) from 939 trillion IDR, accounting for 4.85 percent of the gross domestic product (GDP) next year.
Total state budget revenue reached 912.1 trillion VND (39.74 billion USD) in the first seven months of 2021, equaling 67.9 percent of the estimate and up 15.6 percent year-on-year, data released by the Ministry of Finance on August 9 showed.
The disbursed public investment declined in July due to the surge in COVID-19 cases, but it still grew 5.6 percent in the first seven months of 2021 as compared to the same period last year.
Business
