US journal Borgen Magazine has run a story entitled “COVID-19 in Vietnam Declines: A Success Story” by Maggie Sun, highlighting Vietnam’s success in maintaining its safety and economic growth amidst the devastating impacts of the pandemic around the world.
The reign of COVID-19 in Vietnam has been watery and short-lived, in contrast to other countries like Italy or the United States thanks to an unique approach to testing, US-based Borgen Magazine said in a recent article.
Vietnam has seen considerable improvements in budget transparency at national, provincial and ministry levels, heard a project closing workshop in Hanoi on October 8.
Vietnam’s economic growth rate this year could reach 3.8 percent if there is no new COVID-19 outbreak in the second half of the year and economic activities gradually resume, the Vietnam Institute for Economic and Policy Research (VERP) has predicted.
The Vietnam Institute for Economic and Policy Research and the Centre for Development and Integration on July 8 released the 2019 Provincial Open Budget Index (POBI), which assesses how transparently localities spent their allocated public funds last year.
The transparency of State budget, especially budget allocation and use, will help the public monitor the use of their tax payments more reasonably and effectively.
The Vietnam Institute for Economic and Policy Research (VEPR), in coordination with Oxfam, Prakarsa, Tax and Fiscal Justice Asia (TAFJA) and Vietnam Tax Justice Alliance (VATJ), on June 25 announced research outcomes on the case of corporate tax incentives in the ASEAN towards sustainable tax policies in the ASEAN Region.
Vietnam is sparing no efforts to implement tax reform measures along with the application of information technology in tax administration to disclose budget information, according to the Vietnam Annual Economic Report 2020 launched at a conference in Hanoi on June 17.
Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.
Digital platforms are no longer exclusive to tech companies, and they have become increasingly popular in other sectors as they look to enhance their competitiveness.
The digital platform economy has been contributing to creating a favourable business environment, especially platforms for the provision of IT services.
The recently signed US-China trade deal, an effort to calm trade tensions between the world’s two largest economies, will force Vietnamese businesses to grow in order to meet the challenges as well as the opportunities it brings, said economic experts.
The average tax incentive for each major enterprise is currently tens of times higher than that for other groups of businesses in the economy, an expert has said.
With a GDP expansion of 7.31 percent in the third quarter, the growth target of 6.6 – 6.8 percent for 2019 set by the National Assembly is achievable and likely to reach 7.05 percent.
Vietnam has emerged as a destination for large tech firms as the trade dispute between the US and China continues to intensify with no end in sight. However, whether and how much Vietnam can take advantage of the shifting FDI flow out of China remains to be seen.
Society
