Midwestern greenhouse gas reduction accord

The Ministry of Industry and Trade (MoIT) has consulted the Government not to include 14,120 MW of coal-fired power in the national power master plan (PDP8). — Photo ndh.vn The Ministry of Industry and Trade (MoIT) has consulted the Government not to include 14,120 MW of coal-fired power in the national power master plan (PDP8) to achieve the goal of net zero emissions by 2050. Local media consider such a change a “revolution” in the electricity and environment of the country. The MoIT said in a written report to the Government Standing Committee that of 14,120 MW of coal-fired thermal power, State corporations had invested in 8,420 MW. Specifically, Electricity of Vietnam was assigned 3,600 MW, including Quang Trach II, Tan Phuoc I and II projects. The Vietnam Oil and Gas Group has been given 1,980 MW for the Long Phu III project. Vietnam Coal and Mineral Industries Group has been assigned 2,840 MW, including Cam Pha III, Hai Phong III and Quynh Lap I assignments. In … [Read more...] about Power Plan VIII to remove more than 14 GW of coal-fired power

Illustrative photo However, the current regulations on family deduction of the Personal Income Tax Law 2009, which was amended in 2012 and supplemented in 2014, are not suitable for the current socio-economic situation and growth rate. Inadequacies in taxation Personal Income Tax (PIT) is one of two taxes that make the largest contribution to the annual state budget revenue with VND 110,000 bln, accounting for 10 percent of the total balance of the state budget in 2021. This is just after the two pillar taxes of the economy, which are Corporate Income Tax (CIT) and Value-Added Tax (VAT). Although wage earners account for 50 percent of the labor force and contribute up to 70 percent of revenue, tax policy for them has been slow to adjust after more than ten years of applying the PIT Law. This is currently very inadequate. The current income of the cadres, civil servants, and public employees' working salary plus additional incomes have all exceeded the threshold of … [Read more...] about Tax Law in Vietnam inconsistent with income

Workers at a facility of PetroVietnam Gas JSC (GAS). GAS rose 0.9 per cent yesterday. — VNA/VNS Photo Vietnamese shares rose on Tuesday as risk appetite improved amid the authorities' efforts to curb inflation, promoting economic growth. On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.17 per cent to close at 1,258.85 points. The VN-Index had gained 0.32 per cent to close Monday at 1,256.75 points. Some 721.6 million shares worth VND16 trillion (US$684 million) were traded on the southern exchange. The market's breadth was positive with 270 stocks climbing, of which 12 stocks hit ceiling prices, while 193 stocks declined. The VN30-Index, which tracks the 30 biggest stocks on HoSE, jumped 0.37 per cent, to 1,281.44 points. In the VN-30 index, gainers included Asia Commercial Bank (ACB), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), HDBank (HDB), Hoa Phat Group (HPG), Military Bank (MBB), Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL), Tien Phong … [Read more...] about Shares rise on upbeat sentiment

Domestic gasoline prices declined for the fourth consecutive session. They are expected to drop further. — Photo kinhtedothi The Government has just issued a decree stipulating the import tax rate for gasoline products, with a reduction of 10 per cent on organic unleaded gasoline. Decree No. 51/2022/ND-CP amends the preferential “Most Favoured Nation” or “MFN” rates for gasoline products, in which the import tax rate for unleaded petrol (under HS code from 2710.12.21 to 2710.12.29) will be adjusted from 20 per cent to 10 per cent. According to the Ministry of Finance (MoF), compared to other countries, the proportion of tax in the base price of petroleum in Viet Nam is lower. The proportion in many countries was mainly in the range of 40 per cent - 55 per cent for gasoline and 35 per cent - 50 per cent for oil, while it was about 19.39 per cent for E5RON92 gasoline, 21.95 per cent for RON95 gasoline and about 11.05 per cent for diesel in Viet Nam with the environmental … [Read more...] about Gasoline products entitled to 10 per cent discount on preferential import tax

Hanoi – The northern mountainous province of Yen Bai has received and implemented 21 programmes and projects funded by the World Bank (WB) with total investment of 4.67 trillion VND (199.65 million USD) since 2000, according to a local official. Chairman of the Yen Bai province People’s Committee Tran Huy Tuan and WB Country Director for Vietnam Carolyn Turk. (Photo: VNA) Chairman of the provincial People’s Committee Tran Huy Tuan told WB Country Director for Vietnam Carolyn Turk on August 9 that 18 out of the 21 projects have been put into use, while three are underway. These projects have significantly contributed to local development in essential sectors like poverty reduction, construction, healthcare, rural transport and urban infrastructure, he stressed. Turk was in Yen Bai province to discuss the implementation of the dynamic cities integrated development project, which includes Yen Bai city, with total investment amounting to 63.27 million USD, of which 39.46 … [Read more...] about Yen Bai deploys 21 World Bank-funded projects

Among the notable stocks is Kinh Bac Urban Development Corporation JSC (KBC). In the first six months, KBC achieved nearly $47 million in net revenues and $103 million in net profit, down 61 per cent in revenues but up 271 per cent in profit over the same period last year. This year, it set a business plan with total revenue of $426 million and profit after tax of $195 million. Industry analysts say the demand for industrial real estate will continue in a positive trajectory in 2023, Le Toan KBC currently owns more than 4,700 hectares of industrial land and 917ha of urban area nationwide. Of which, the four zones of Que Vo Industrial Zone (IZ) and its expansion, Trang Due 1, and Trang Due 2 are fully occupied. The company is now developing two new IZs, Nam Son Hap Linh and Trang Due 3. Both of these projects cover large areas and are located in key cities and provinces in terms of industrial property development. Industrial Development and Investment Corporation JSC … [Read more...] about Industrial real estate remains defiant in stock market