MINISTRY WANTS 12 TYPES OF GOODS, SERVICES REMOVED FROM VAT EXEMPTION LIST
These include fertilizer, machinery and equipment specifically used for agricultural production, offshore fishing vessels, securities depository, public utility telecommunication services, and internet services under government programs.
CREDIT GROWTH REMAINS FAR FROM GOVERNMENT TARGET
Credit within the banking system to the end of May 2024 increased by only 2.41 per cent against the end of 2023, far from the credit growth targets, the Government reported. The Government has set a credit growth target of 5 per cent for the first six months of 2024 and 15 per cent for the whole year.
SOUTHEAST REGION PLANNING WITH VISION TO 2050
Under Decision No. 370/QD-TTg issued by the Prime Minister on May 4, 2024, the Southeast Region will be developed in to a civilized, modern, and dynamic area, becoming a hub not only in Vietnam but also in Southeast Asia in terms of economy, finance, education, training, science, technology, innovation, and digital transformation.
VIETNAM’S ECONOMIC PERFORMANCE IN JANUARY-MAY
In the first five months of this year, the country saw a 2% increase in foreign direct investment, over a 9% increase in total export-import turnover, and nearly a 65% rise in the number of international visitors.
QUANG NINH AIMS TO ATTRACT 3 BILLION USD WORTH OF FDI THIS YEAR
According to the province’s Investment Promotion and Support Board, FDI was put mainly into high-tech fields and environmentally friendly industries with high added value, enabling the northern coastal province to participate in the global value chain.
EVFTA STRENGTHENS VIET NAM’S POSITION AS AN ATTRACTIVE DESTINATION FOR EUROPEAN INVESTMENT
The EVFTA which entered into force in August 2020, has been significant. It has made Viet Nam one of only two ASEAN countries, along with Singapore, to have a free trade agreement with the EU. This has given the country a competitive edge over other ASEAN nations still in negotiations with Europe.
FTAS GIVE STRONG BOOST TO EXPORT GROWTH
Viet Nam's exports accelerated from US$5.4 billion in 1995 to around US$364 billion in 2023, mainly fuelled by the signing of free trade agreements, both bilaterally and multilaterally. In 1995, Viet Nam joined ASEAN Free Trade Agreement (ATFA), the first FTA between Viet Nam and foreign partners since the country began Reform policy in 1986, ushering in a new era of regional and international economic integration.
VIETNAM EXPECTS US$500 MLN FOREST CARBON CREDIT SALES
Promoting forest carbon credit trading is a significant driver for climate change mitigation and sustainable forest management. The prospective financial gains derived from forest carbon ought to be rechanneled into forest conservation and management, while ensuring an equitable distribution of benefits to accomplish objectives within the forestry sector.
