Want to be in the loop?
subscribe to
our notification
Business News
GOV’T PROPOSES US$2.81 BILLION TAX REDUCTION-EXEMPTION PACKAGE FOR 2022
The Government has proposed a package on reduction and exemption of tax and land use fees worth VND 64 trillion (US$2.81 billion) for 2022.
This is part of the Government’s fiscal and monetary measures submitted by Minister of Planning and Investment Nguyen Chi Dung to the National Assembly on Tuesday, with an aim to facilitate post-pandemic recovery and socio-economic development in 2022 and 2023.
If approved by the legislative body, the Government will cut 50 percent of environmental protection tax and slash value-added tax by 2 percent to 8 percent from the current 10 percent.
In addition, the Government planned to reduce land-use fees by 30 percent as having been applicable in 2021, and registration fee for domestically-assembled cars by 50 percent.
It will also set aside VND 176 trillion from the central budget for development investment in modernizing grassroots healthcare system, regional disease control centers, central level hospitals, and other public investment projects.
Total funding for the implementation of these measures amounts to VND291 trillion, according to the minister.
Source: VGP
Related News
VIETNAM ECONOMY INVESTMENT
VIETNAM EYES 8% GDP GROWTH IN 2025
The State Bank of Vietnam (SBV) has been tasked with closely monitoring global and regional economic developments and adjusting monetary policies to align with shifts in major economies. The directive emphasizes reducing lending rates, managing deposit rates at commercial banks, and ensuring credit flows remain uninterrupted in early 2025.
HOT NEWS
GOVERNMENT MEMBER FOR 2021-2026 TERM
The 2021-2026 government term was recently consolidated after the 8th session of the 15th National Assembly. It consists of 27 members, including the Prime Minister, five Deputy Prime Ministers, and 21 ministers and heads of ministerial-level agencies.
HOT NEWS
EXCLUSIVE OFFER FOR HKBAV MEMBERS
Minimum order: 1 box (10 gift boxes per box; 6 gift bags per box)Free shipping on orders over 2 million VND (nationwide delivery across Vietnam)Volume discounts available for large orders
VIETNAM ECONOMY INVESTMENT
TOTAL FDI REGISTERED IN VIETNAM HITS 31.4 BILLION USD IN JANUARY-NOVEMBER
As of November 30, 2024, the total newly registered capital, adjusted capital, and capital contributions or share purchases by foreign investors in Vietnam reached nearly 31.4 billion USD, up 1% increase compared to the same period last year.
TECHNOLOGY
QUANG TRI TARGETS 6,000 MW WIND POWER CAPACITY BOOST
The central province of Quang Tri is seeking the Government’s approval to expand its wind power capacity by an additional 1,500-2,000 MW for onshore projects and 2,600-4,000 MW for offshore projects, according to the Vietnam News Agency.
VIETNAM ECONOMY INVESTMENT
HCMC’S RETAIL SALES REACH NEARLY VND568 TRILLION
HCMC’s retail sector has shown a notable recovery this year, with total retail sales of goods nearing VND568 trillion, an 11% uptick compared to the previous year, according to the HCMC Department of Industry and Trade.This year marks the second consecutive year the city has implemented its market stabilization program, with businesses playing a pivotal role in maintaining stable prices and ensuring a steady supply of goods.
Events Sponsors
