The Vietnam – Russia oil and gas joint venture Vietsovpetro has reported an oil and condensate output of nearly 3.14 million tonnes in the first 11 months of this year, 9.4 percent higher than its yearly plan.
The northern province of Quang Ninh is intensifying efforts to meet its socio-economic targets and keep its gross regional domestic product (GRDP) growth in the double digits this year.
The Government’s recently-issued Decree 132/2020/ND-CP would help prevent transfer pricing and limit thin capitalisation to develop a healthy investment market, Deputy Director of the General Department of Taxation Dang Ngoc Minh said.
The southern province of Binh Duong attracted about 1.7 billion USD of foreign direct investment (FDI) in the first 10 months of this year, exceeding the goal set for the whole year by 19 percent.
The COVID-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.
The second stimulus package to aid the economy amid the COVID-19 pandemic would focus on the most affected sectors, including aviation, tourism and consumption, according to the Ministry of Planning and Investment.
Legislators will continue discussing the country’s socio-economic situation, State budget and economic restructuring on the second plenary session of the 14th National Assembly’s 10th sitting on November 4.
The State budget revenue of the northern port city of Hai Phong is expected to reach over 98.2 trillion VND (over 4.2 billion USD) in 2020, including 63 trillion VND from export-import activities and over 35.2 trillion VND from domestic collection.
The 16th Party Congress of northern Hai Phong city for the 2020-2025 tenure wrapped up on October 15 afternoon, issuing a resolution that targets an average growth rate of 14.5 percent annually for the period.
State budget collection in the first nine months of this year reached 975.3 trillion VND (42.4 billion USD), equivalent to 64.5 percent of the estimate and representing a drop of 11.5 percent year-on-year, according to the Ministry of Finance.
Vietnam has seen considerable improvements in budget transparency at national, provincial and ministry levels, heard a project closing workshop in Hanoi on October 8.
HCM City witnessed a sharp fall in budget collections in the first nine months of this year as a result of COVID-19, which will pose problems in fulfilling the annual target.
Vietnamese Minister of Finance Dinh Tien Dung has shared Vietnam’s experience and financial mechanisms to cope with COVID-19 pandemic effectively with Ministers of Finance and Health of Asia-Pacific countries during a recent symposium.
The Joint Ministers of Finance and Health Symposium on Universal Health Coverage in Asia and the Pacific, with the theme “COVID-19 and Beyond”, was held online by the Asian Development Bank (ADB) in Hanoi on September 17, with the participation of various countries in the Asia-Pacific region.
The Indonesian Finance Ministry has said the State revenue till August this year reached 1.028 quadrillion rupiahs (some 69.5 billion USD), or 60.2 percent of the amended state budget that amounted to nearly 1.7 quadrillion rupiahs.
HCM City will continue to speed up the disbursement of public funds and seek to increase budget revenue for the remaining months of the year, the chairman of the municipal People’s Committee has said.
The Mekong Delta province of Vinh Long is taking synchronous measures to fight COVID-19 pandemic and step up socio-economic development, said Chairman of the provincial People’s Committee Lu Quang Ngoi.
Business
