Hanoi (VNA) - The Ministry of Finance (MoF) has proposed to cut environmental protection tax on jet fuel by 30 percent, from 3,000 VND to 2,100 VND per litre. The reduction is expected to help remove difficulties for the aviation industry due to the serious impact of the COVID-19 pandemic. The ministry is collecting ideas and contributions from ministries and sectors to the National Assembly Standing Committee’s draft resolution on environmental protection tax on jet fuel. The ministry calculated that with such a reduction, the State budget revenue will decrease 87.33 billion VND (3.75 million USD) per month. However, the cut will help air transport businesses ease the financial burden and maintain business operations as the COVID-19 pandemic is still serious and unpredictable worldwide. The finance ministry asked ministries, sectors, localities and agencies to send their comments before June 10, 2020. This resolution is expected to be effective until the end of this … [Read more...] about MoF proposes 30-percent reduction to environmental protection tax on jet fuel
As Vietnam has to wait for another year for the bill on preventing and fighting against the harmful effects of alcoholic beverages to be revised and completed, many streets across the country will remain day and night filled with beer shops and the “Cheers” sound of drinking toasts. … [Read more...] about Why do Vietnamese drink so much?
The Covid-19 pandemic and US-China trade tensions have made companies look at the need to diversify their supply chains. For example, Japan recently announced a first list of companies it will subsidy to relocate from China to Japan or South East Asia. News reports suggest 30 companies plan to move to Southeast Asia. Half of these could move to Vietnam to produce medical equipment, semiconductors, phone components, air conditioners and power modules. … [Read more...] about Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC
The Hanoi Department of Agriculture and Rural Development said it submitted to the Hanoi People's Committee for approval a plan for EVFTA implementation from 2020-2025, while coordinating with concerned authorities and sectors in supervising signed FTAs implementation. The department informed the National Assembly’s supervision team of Hanoi’s agreements’ implementation, and cooperation between the city and Australia, Japan, the Republic of Korea (RoK), ASEAN (the Association of Southeast Asian Nations), the EU, South Africa, and Egypt. … [Read more...] about Hanoi boosts farm produce branding