CONTINUED TAX AND FEE CUTS TO PROMOTE ECONOMIC GROWTH
In the spirit of accompanying businesses and people to overcome difficulties to recover and develop the economy, this year the Ministry of Finance (MoF) has continued to submit to competent authorities and promulgate according to its authority policies on exemption, reduction and extension of taxes, fees and charges.
ENTERPRISES CONTINUE TO FIGHT FINANCIAL DIFFICULTIES
The General Statistics Office (GSO) reported that in the first 10 months of this year, Vietnam’s total state budget revenue sat at $59 billion, down 9.2 per cent on-year. Domestic revenues are estimated to stand at nearly $48.84 billion, down 5.9 per cent on-year. The nine-month reduction rate was only 3.2 per cent on-year – meaning enterprises are facing mounting problems.
BA RIA-VUNG TAU’S FDI ATTRACTION RISES BY 2.78 TIMES
The southern province of Ba Ria-Vung Tau has attracted 20 foreign-invested projects worth 751 million USD since the beginning of this year, five projects higher and a 2.78-fold increase in capital compared to the same period last year.
SUPPORTING INDUSTRY GIANTS FAVOUR VIETNAMESE MARKET
In the last months of 2023, a lot of supporting industry giants have announced their strategies to penetrate the Vietnamese market, given the fact that the country has become a strategic destination in the global supply chain.
LISTED REAL ESTATE BUSINESSES SEE SHARP REVENUE DROP
The committee for private economic development research, known as Committee IV, which is under the prime minister’s administrative procedure reform consulting council, said the businesses faced hardships such as capital shortages and high inventory in the period.
CITY SURVEYS 15,000 ENTERPRISES TO ASSESS GOVERNMENT’S COMPETITIVENESS
HCM City is carrying out a survey of more than 15,000 firms, cooperatives, and business households as part of its 2023 Department and District Competitiveness Index (DDCI). The survey aims to gather feedback from the businesses and evaluate the competitiveness of the city’s 22 districts, including Thủ Đức City, and 17 departments.
LEGAL FRAMEWORK ESSENTIAL TO PROTECT PERSONAL DATA, DRIVE DIGITAL ECONOMY: EXPERTS
Việt Nam must establish a robust legal framework to manage and protect personal data in order to drive its digital economic growth while ensuring the privacy and rights of its citizens, experts said.
VIETNAM’S JAN-OCT RETAIL SALES GROW 9.4% Y-O-Y
Vietnam’s retail sales of consumer goods and services expanded by 9.4% year-on-year in the first 10 months of this year, according to the General Statistics Office (GSO). In October alone, sales revenue of consumer goods and services amounted to an estimated VND536.3 trillion, a 1.5% rise over the previous month and a 7% increase against the same period last year.
