15th national assembly

This year's awards is based on verified results of more than 130 million reviews of tourists who ever rented rooms in the mentioned destination. Of which, more than 1.1 million reviews were collected from accommodation establishments in Vietnam. Following Phong Nha - Ke Bang National Park in the list is Hoi An (Quang Nam), Ninh Binh, Sapa (Lao Cai) and Mai Chau (Son La). The Traveller Review Awards is part of Booking.com's annual appreciation program to recognize hospitality of partners based on rating scores of travelers after their vacation. Phong Nha - Ke Bang National Park was also ranked the 15th best national park voted by TripAdvisor during the Covid-19 pandemic period in 2020. By Minh Phong- Translated by Huyen Huong …

[Read more...] about Phong Nha- Ke Bang National Park tops most hospitable destination list in VN

The Hanoitimes - Following the ratification, the EVFTA would enter into force 30 days after the mutual notification between Vietnam and the EU about the completion of respective legal procedures. The National Assembly (NA) today [June 8] approved the EU – Vietnam Free Trade Agreement (EVFTA) with endorsement from 100% of 457 National Assembly deputies present. Vietnam parliament approves trade deal with EU with endorsement of 100% National Assembly deputies. Photo: VTV. The NA has also approved the EU - Vietnam Investmetn Protection Agrement (EVIPA) with the approval rating of 95.45% Following the ratification, the NA assigned the government to initiate the deal, while agreeing to apply the EVFTA with the UK until the end of the transitional period on December 31, 2020, which is subject to an extension of another 24 months. After the deal ratification, it would enter into force 30 days after the mutual notification between Vietnam and the EU on the completion of their respective legal procedures. At the NA sitting on May 21, on behalf of Vietnam's President Nguyen Phu Trong, Vice President Dang Thi Ngoc Thinh said the EVFTA would bring mutual benefits for all parties involved, and suggested that the NA should approve the deal at the earliest possible. The EVFTA, officially signed last June after six years of negotiations, has been dubbed “the most ambitious” FTA the EU has ever reached with a developing country, according to the European Commission. It not only includes the almost full elimination of bilateral tariffs, but also a substantial reduction of non-tariff barriers. Moreover, it includes provisions to protect intellectual property, labor, environmental standards, and fair competition, while promoting regulatory coherence. The EU is one of Vietnam’s largest trade partners with turnover of US$56.45 billion in 2019, of which Vietnam exported goods worth US$41.54 billion and imported goods worth US$14.9 billion. On March …

[Read more...] about Vietnam parliament approves trade deal with EU

The Hanoitimes - By 2025, Vietnam’s public debt is projected at 47.5% of the revised GDP (which is 25.4% higher than current method of GDP’s calculation), or 60.4% of the level before being revised. Vietnam targets an average fiscal deficit of 3.7% in the next five years period, being around 4% of the GDP in 2021 before declining to 3.4% by 2025, according to Minister of Finance Dinh Tien Dung. Minister of Finance Dinh Tien Dung at the hearing session. Photo: Nhat Bac. By 2025, Vietnam’s public debt is estimated at 47.5% of the revised GDP (which is 25.4% higher than current method of GDP’s calculation), or 60.4% of the level being revised, stated Mr. Dung at a hearing session at the National Assembly on November 5. For the 2021 – 2025 period and given the average GDP growth target of 6.5 – 7%, the government estimates total state budget revenue of VND7,800 trillion (US$336.93 billion), a 1.1 – 1.2-fold increase compared to the 2016 – 2020 period. Of the total, the contribution of taxes and fees revenues would be around 13 and 14% of GDP, while it made up 24.5% and 20.4% of the GDP in the 2016-2020 due to the enlargement of the Vietnamese economy after the GDP revision. Meanwhile, revenue from land and import-export activities in the next five years would be around the level of the 2016 – 2020 period, while that of crude oil would be half of the previous five years and account for 3.3% of the adjusted GDP in the 2021 – 2025 period. Overview of the hearing session at the National Assembly. Source: quochoi.vn. Priority to ensure fair business environment The finance minister informed that the structure of budget revenue continues to improve, in which domestic revenue accounts for 85 – 86% of total, import – export activities 12.7%, and crude oil 1.4%. Mr. Dung said amid global uncertainty stemming from the Covid-19 pandemic and global trade tensions among major economies, the Ministry of Finance (MoF) still …

[Read more...] about Vietnam targets fiscal deficit of 3.7% of GDP in next five years