Proposal for business partnership

Vietnam Airlines signs a strategic cooperation agreement with T&T Group and SHB Bank (Photo: VNA) Hanoi (VNA) - The national flag carrier Vietnam Airlines has signed a strategic cooperation agreement with T&T Group and SHB Bank; and a Memorandum of Understanding (MoU) with T&Y SuperPortTM - a joint venture between T&T Group and YCH Group of Singapore. The agreements are expected to not only boost business efficiency and affirm the position and competitiveness of the signatories but also contribute to expanding the strategic cooperation between Vietnam and Singapore. Under the deals, the parties will prioritise using each other's products and services and jointly exploit the potential and strengths of each party to create outstanding synergistic values for the Vietnamese businesses and economy. Vietnam Airlines will provide international standard air transport services on the basis of promoting its strength as a modern fleet of over 100 aircraft , and its … [Read more...] about Vietnam Airlines expands partnerships to boot multi-sector business

At Go! supermarket in Ha Long, Quang Ninh - Illustrative image (Photo: VNA) Quang Ninh (VNA) – The northeastern province of Quang Ninh has implemented many practical programmes to promote the consumption of local product s in the domestic market . The province took the move in implementing Directive 03-CT/TW dated May 19, 2021 of the Party Central Committee’s Secretariat on intensifying the Party’s leadership over the campaign of “Vietnamese people prioritise using Vietnamese goods” in the new stage; and the Prime Minister’s Directive 28/CT-TTg dated October 26, 2021 on bolstering the implementation of the campaign. In the first seven months of 2022, the province’s Department of Industry and Trade has organized or participated in 11 trade promotion events in and outside the province. This included one provincial-level event - the Quang Ninh Summer OCOP (One Commune – One Product) Trade Fair, which featured nearly 300 booths; and three district-level fairs. The … [Read more...] about Quang Ninh promotes consumption of local products in domestic market

This move should in fact have been done two years ago in 2020, when the Consumer Price Index (CPI) at that time had increased to 22 percent compared to the time when the Law had come into effect. This is because the Law stipulates that when the CPI increases above 20 percent it must be adjusted. Tax rates not reasonable It is believed that the proposal to amend and adjust the Law on Personal Income Tax is too slow because the Ministry of Finance is trying to make its own adjustments even when the tax regulations and calculations are no longer consistent with ground reality. Because when the value of money decreases due to inflation, tax milestones and family deductions also decrease accordingly, making the lives of wage earners and dependents more and more difficult. Even in the difficult years of the Covid-19 pandemic, the income of employees decreased, but PIT still increased steadily. Only in the first quarter of this year, the PIT amount was estimated at 43.3 percent of the … [Read more...] about Law on Personal Income Tax inconsistent

Vietnam is willing to hold trade talks with the United States to timely solve arising problems regarding a U.S. anti-circumvention investigation into steel pipe products imported from the Southeast Asian country. Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs, made the statement at a regular press briefing in Hanoi on Thursday following reports that the U.S. officially initiated an investigation into the case. Hang affirmed that the Vietnam-U.S. comprehensive partnership has witnessed progress in all fields in recent times, including in economy, trade, and investment. Vietnam is the leading trade partner of the U.S. in Southeast Asia, while the U.S. is the second-largest trade partner of Vietnam, with two-way trade turnover exceeding US$110 billion in 2021. “Vietnam advocates promoting economic, trade, and investment cooperation with the U.S. on the basis of freedom, fairness, and mutual benefits in accordance with bilateral agreements and … [Read more...] about Vietnam ready for talks with US on tax evasion investigation into Vietnamese steel pipes

The northern mountainous province of Lai Chau is seeking Prime Minister Pham Minh Chinh’s approval for the construction of an airport through a public-private partnership (PPP). According to the provincial people’s committee, Lai Chau Airport is listed in the government’s national aviation development plan issued in 2018. Under Lai Chau’s proposal, Lai Chau Airport would have an annual capacity of 500,000 passengers and be used for both civil and military purposes by 2030. The airport would cover 167 hectares in Tan Uyen Town and cost VND8 trillion (USD344.82 million). Lai Chau People’s Committee said that several investors had expressed their interest in the project. At present, Dien Bien Airport is the only one in the northwestern region of Vietnam. Under the Ministry of Transport’s planning proposal, by 2030, the region would have three more airports at Lai Chau, Sapa in Lao Cai and Na San in Son La. Lai Chau has a 265-kilometre border with China. The … [Read more...] about Lai Chau wants to build airport

At the conference on August 11, MPI Minister Dung said that thanks to the control of the pandemic and the maintenance of macroeconomic stability, the business sector has reported a positive recovery recently. As of July, the whole country had about 871,000 operating enterprises with tax incurred, an increase of nearly 13 per cent compared to 2021. In the first seven months of 2022, the number of enterprises entering and returning to the market, as well as additionally registered capital into the economy, increased sharply. The number of enterprises entering and re-entering the market was over 130,000 enterprises, an increase of 26.8 per cent on-year, 1.4 times higher than the number of enterprises withdrawing from the market. The total registered capital added to the economy in the first seven months of 2022 reached over $143 billion, an increase of over 37 per cent on-year. According to reports from business associations, the market has recovered over 75-85 per cent compared … [Read more...] about Utilising every opportunity to grow and overcome challenges