Average untaxed income

An intelligent operation center (IOC) of Binh Phuoc province. IOC is an important solution to promote the development of e-Government in the national digital transformation process. Vietnam expects to receive support from the UK in the country's digital transformation. (Photo courtesy of VNPT) Hanoi (VNS/VNA) - The UK – Vietnam Free Trade Agreement (UKVFTA) is opening significant opportunities for enterprises from both sides to enhance cooperation in green energy transition and digital transformation as the Southeast Asian country strives to achieve net zero emissions by 2050 and embrace new drivers for economic growth. Vietnam was making strong efforts towards the goal of becoming a high-income country by 2045, to which digital transformation and energy transition are considered launch pads for the economy. During a visit to the UK from August 10 to 15, Politburo member and Head of the Party Central Committee’s Economic Commission Tran Tuan Anh said that Vietnam had set … [Read more...] about UKVFTA promotes cooperation in digital transformation, energy transition

The move is aimed at ensuring the country's long-term self-sufficiency in oil and oil products. Vietnam National Oil and Gas Group (PVN) is planning to build an oil refinery complex worth up to US$19 billion in the southern province of Ba Ria – Vung Tau. The Nghi Son Oil Refinery plant in Thanh Hoa Province, North Central Coast of Vietnam. File photo In a proposal submitted to the Government, the PVN expected the investment would be conducted in phases, of which around 70% of the capital would be allocated for the first phase. According to the PVN, Vietnam's domestic market is set to face a shortage of 19.5 million tons of petroleum products every year by 2030, and the figure could rise to 49 million tons by 2045. At present, the domestic consumption of petrol products is estimated at 18 million tons per year. PVN forecasts the demand to continue rising to 25 million tons by 2025, and 33 million tons by 2030. However, the combined production capacity of … [Read more...] about PVN plans to build US$19-billion oil refinery-storage complex

Minister of Agriculture and Rural Development Le Minh Hoan (C) and other representatives press the button to issue a digital conversion order in agriculture On the occasion of ‘Agricultural Digital Transformation Day’, the Ministry of Agriculture and Rural Development in collaboration with the Vietnam Posts and Telecommunications Group (VNPT) today in Hanoi launched the program of digital transformation of agriculture and rural development by deploying an information system, granting database, managing planting area codes. This event chaired by Minister of Agriculture and Rural Development Le Minh Hoan took place in form of offline and online with the participation of representatives of farmers, cooperatives, and businesses in 63 cities and provinces across the country. According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, the growing area code system currently has an important meaning in identifying Vietnamese agricultural products, building trust … [Read more...] about Digital transformation helps remove ambiguity in agricultural production

Deputy Minister of Industry and Trade Do Thang Hai speaks at the event. (Photo: VNA) Ninh Thuan (VNA) – Industry and trade officials of 15 provinces and centrally-run cities in the central and Central Highlands region met in Phan Rang-Thap Chap city in Ninh Thuan province on August 19 to discuss measures to enhance cooperation to complete their tasks in the rest of the year. Participants highlighted a number of difficulties they are facing, and made a number of requests to the Ministry of Industry and Trade, including those related to industrial clusters, supporting industries, industrial explosives, industrial promotion, minerals, chemical environment, food safety, trade, and energy. Addressing the event, Deputy Minister of Industry and Trade Do Thang Hai affirmed that the ministry will give maximum support to localities in dealing with their difficulties. He asked the localities to promptly roll out measures to facilitate industry and trade production. He advised … [Read more...] about Central, Central Highlands localities strengthen industry-trade cooperation

While 2020 was one of the warmest years on record globally, Vietnam has just gone through another historical year of climate extremes. Last November was also decisive for the future of the planet as countries officially submitted their climate pledges at the COP26 climate summit. Dao Xuan Lai, head of Climate Change and the Environment at the United Nations Development Programme (UNDP) in Vietnam We see a skyrocketing demand for natural resources while witnessing the collapse of functioning ecosystems. You only need to drive a couple of hours outside of Hanoi towards Ninh Binh province with its iconic limestone clasts, synonymous with the beauty of northern Vietnam, to see these emblematic features being devoured by machinery to be used for stone mining and cement production. By 2050, global demand for materials such as plastics, steel, or cement is projected to increase by a factor of 2-4. More than 50 per cent of the world’s emissions can be traced back to our … [Read more...] about Partnerships key to green transition

Hanoi, (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 19. -President Nguyen Xuan Phuc received former Special Ambassador for Vietnam-Japan Sugi Ryotaro in Hanoi on August 19. The State leader thanked the former Special Ambassador for Vietnam-Japan for his active contribution to the relations between the two countries over the past 30 years, particularly through the organization of major cultural exchanges. Read full story -Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the latest information released by the Ministry of Finance. Government debt, government-guaranteed debt and local government debt also decreased. Specifically, government debt,  government-guaranteed debt and local government debt dropped from 51.7%, 9.1%, and 1.1% of GDP in 2017 to 39.1%, 3.8% and 0.6% in 2021, respectively. Read full story -Vietnam exported roughly 4.08 million … [Read more...] about ☕ Afternoon briefing on August 19