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Once approved by the National Assembly, the cut will take effect on August 1. The Vietnamese Government has proposed a further cut of environmental protection tax on petrol products by VND1,000 per liter and VND500 for diesel products, the largest margin possible, until late 2022. A petrol station in Hanoi. Photo: The Hanoi Times The proposal was mentioned in Government’s resolution No.82 proposing lower rates on environmental protection tax on petroleum and gas products. Under current regulation, the Standing Committee of the National Assembly would be responsible for making decisions on this issue. According to the Government, the environmental protection tax would be halved from the current VND2,000 to VND1,000 per liter, resulting in the retail price of VND1,100 per liter for petrol products (including the VAT), and diesel products of VND500-700 per liter. The tax cut is set to take effect from August 1 until the end of 2022, for which the Ministry … [Read more...] about Vietnamese Gov’t further cut taxes on petrol products

Vietnam’s economy has been firm on the recovery track, with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. Based on Vietnam’s economic performance in the first six months of the year and expectations for the remainder of 2022, the Ministry of Planning and Investment (MPI) expected the economic expansion rate may hit 7% this year, 0.5 percentage points higher than the Government’s target of 6.5%. Minister of Planning and Investment Nguyen Chi Dung at the meeting. Source: VGP MPI Minister Nguyen Chi Dung forecast at the monthly Government meeting held today [July 4]. According to Dung, Vietnam’s economy has been firm on the recovery track with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. This lifted the overall six-month GDP growth to 6.42% year-on-year, higher than the 5.74% rate in the same period of 2021, and equivalent to the … [Read more...] about Vietnamese Gov’t targets GDP growth of 7% in 2022

The event saw the attendance of representatives from Vietnam, the U.S. and other PP22 countries like Australia, the U.K. and Japan, along with those from foreign countries such as the Philippines, Indonesia, Papua New Guinea and Fiji, and international organizations. The two-week program focused on cooperation activities in health care, the construction of classrooms and climate change response, and art and sport exchanges. Rear Admiral Mark Melson, Commander, Task Force 73 (CTF 73), noted that local residents and experts helped them understand more about cultural sensitivity in health care. In his remarks, U.S. Ambassador to Vietnam Marc E. Knapper expressed his delight at results of the PP22, calling them a message to promote the extensive and intensive cooperation between the two countries. Vice Chairman of the provincial People’s Committee and head of the organizing committee of the PP22 Dao My said through the program, doctors and engineers in Phu Yen had a chance to … [Read more...] about U.S.-led Pacific Partnership 2022 wraps up in Phu Yen

During the second quarter of 2022, European business stakeholders' confidence in Vietnam's investment environment declined slightly, according to the Business Climate Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) and conducted by YouGov Vietnam. Following a first-quarter rise, the BCI dropped 4.4 points in the second quarter to 68.8 points. In contrast with earlier in the year, compounding factors such as the continuing war in Ukraine, commodity price spikes, and the ripple effect of China's zero-COVID policy have dampened expectations among Vietnam's European business community. Although the BCI has fallen, it remains 7.6 points higher than in the fourth quarter of 2021, when it measured 61 points. Vietnam's potential growth is also being viewed with less favour by European business leaders. About 60 per cent of respondents predicted that the Vietnamese economy would stabilise or improve in the third quarter of 2022, compared with 69 per cent who … [Read more...] about European FDI continues to flow into Vietnam amid economic uncertainties

HCM City will need to promote the application of Artificial Intelligence (AI) in the education sector as part of its effort to become a smart city by 2030, experts said. Students do research in a lab at the Vietnam National University in HCM City. — Photo courtesy of the university Education is among 10 key sectors on which the city has focused to develop its digital economy, in addition to healthcare, transportation, finance-banking, tourism, agriculture, logistics, environment, energy, and human resources. The city has assigned its Department of Education and Training to implement a project to develop human resources for AI through education and training, focusing on research and development of technologies using AI. The project will also enhance academic links with foreign AI professionals. The city hosts a number of universities and science research institutes, especially the Vietnam National University, which focus on training and research in AI … [Read more...] about HCM City to promote AI in education sector

President of the VFF Committee of HCM City To Thi Bich Chau (fourth from left) presents flowers to congratulate the representative committee of the local Muslim community on July 4. (Photo: VNA) HCM City (VNA) – The Vietnam Fatherland Front (VFF) Committee of Ho Chi Minh City held a meeting with the representative committee of the local Muslim community on July 4 on the occasion of Raya Aidil Adha – a major holiday on the Islamic calendar. President of the municipal VFF Committee To Thi Bich Chau said over the past years, the representative committee and the management boards of mosques’ areas in HCM City have guided and encouraged followers to uphold the national pride and adhere to the Party and State’s policies. Muslims have joined hands with local residents to overcome difficulties and challenges while actively taking part in patriotic emulation movements and campaigns launched by administrations and VFF committees. She highlighted the improved material and … [Read more...] about Holiday greetings from HCM City to local Muslims