Want to be in the loop?
subscribe to
our notification
Business News
HO CHI MINH CITY PROPOSES 3-MONTH DELAY FOR SEAPORT FEES
Ho Chi Minh City Department of Transport has proposed delaying the collection of seaport infrastructure fees for three months to help businesses weather the COVID-19 storm.
The department has just issued a document to business associations seeking comments on a draft amendment to the collection of seaport infrastructure fees in Ho Chi Minh City.
The city will start a pilot programme to collect seaport infrastructure fees on June 25 before official implementation begins on July 1. Due to the resurgence of COVID-19 in the city, several enterprises and business associations have proposed to delay the collection to support them during the tough time.
Ho Chi Minh City Department of Transport has drafted a dossier to amend and supplement Article 1.5 of Resolution No. 10/2020/NQ-HDND on the fee rates for the use of infrastructure works, service works, and public utilities in the port border area in Ho Chi Minh City.
Accordingly, the department has proposed to delay the collection for three months until October 1 instead of July 1 as scheduled. According to the report submitted to Ho Chi Minh City People's Council, the 3-month timeline is based on the scenario that the COVID-19 pandemic can be basically controlled in July. Thus, there will be two months for businesses to recover from the pandemic.
Thus, foregoing an estimated VND723 billion ($31.43 million) in these three months, the department said that this is a "support for production and business enterprises as well as export-import enterprises to ensure the realisation of the dual goals of both drastically preventing the COVID-19 pandemic and promoting socioeconomic development".
Before that, many businesses and business associations have sent requests to Ho Chi Minh City to consider delaying the fee collection time. In particular, the associations suggested reviewing the regulations on fees. Currently, the tax rate is being regulated differently for businesses that open declarations in and outside Ho Chi Minh City.
Source: VIR
Related News
VIETNAM ECONOMY INVESTMENT
POSITIVE ECONOMIC OUTLOOK FOR VIETNAM
Driven by strong recent economic performance, many foreign agencies have upgraded Vietnam's growth forecasts for 2024 and 2025. The National Assembly set a GDP growth target of 6.5-7% for 2025, aiming for 7-7.5%, while the Prime Minister set a more ambitious 8% growth target.
HOSPITALITY / TOURISM / ENTERTAINMENT
EFFECTIVE RESTRUCTURING BODES WELL FOR LOCAL AIRLINES
Aviation businesses in Vietnam are expected to perform better in 2025, driven by effective restructuring. National flag carrier Vietnam Airlines is on the way to making consolidated revenues of around $4.37 billion in 2024, up from $3.88 billion in 2023.
VIETNAM ECONOMY INVESTMENT
KEY SOLUTIONS TO DRIVE GREEN GROWTH
The Prime Minister has issued Directive 44/CT-TTg, dated December 9, 2024, outlining key tasks and solutions to accelerate the implementation of the National Strategy on Green Growth for the 2021-2030 period, with a vision to 2050.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
PM ORDERS SWIFT RESOLUTION OF CHALLENGES FOR RENEWABLE ENERGY PROJECTS
Prime Minister Phạm Minh Chính has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.
TECHNOLOGY
CLEAR LEGAL FRAMEWORK NEEDED TO UNLOCK DIGITAL ASSET POTENTIAL
The past decade has seen remarkable advancements in technology worldwide, particularly in digital assets such as blockchain, cryptocurrencies, asset tokenization and decentralized finance (DeFi). Once unfamiliar, digital assets have now become integral to the global financial system. Leading nations in this field not only to drive innovation but also establish a strategic edge in the global economy.
VIETNAM ECONOMY INVESTMENT
HANOI'S ECONOMY CONTINUES TO SUSTAIN GROWTH
Speaking at the opening session of the 20th meeting of Hanoi People’s Council on December 4, Deputy Chairman of Hanoi People’s Committee Ha Minh Hai reported that the capital’s economy has maintained high growth, with regional GDP rising by 6.12 per cent in the first nine months of the year, and expected to exceed 6.5 per cent for the full year.
Events Sponsors
