Birthdays 23 march

The ministry’s proposal to extend the special consumption tax (SCT) payment period is expected to give a boost to the vehicle market, and create better conditions for cars manufacturers across the country. Currently, there are 12 vehicle manufacturing and assembling enterprises that could benefit from the extension (see box). Thanks to the support from the government policies, the domestic auto industry has recovered markedly from the pandemic and other pressures, with growth and sales in 2022 much higher than in 2019. However, output and sales of domestically manufactured cars are decreasing. In October 2022, the output was 25,571 vehicles and the corresponding SCT was $169 million. In November, the output decreased to 23,658 vehicles, and the corresponding SCT was $148 million. In December 2022, the amount of SCT incurred was $140 million; in January 2023, the amount was only $63 million. The Ministry of Finance (MoF) has yet to announce SCT collected in recent months. … [Read more...] about Carmakers keen on extension of SCT pay

The 15th edition was part of the emulation program of the military youths in general and of the VMMU youth in particular in celebration of the 133rd birthday anniversary of President Ho Chi Minh (May 19, 1890 - 2023), and towards 75 years since President Ho Chi Minh issued a call for patriotic emulation (June 11, 1948 - 2023). Addressing the event, Senior Colonel Doan Van Mau, Deputy Political Director of the VMMU, stressed that over the past time, the university’s Party Committee and Board of Directors have actively directed the establishment of a steering board on voluntary blood donation with Youth Union members and youths as the core of the blood donation program. The steering board has proactively disseminated information to the university’s cadres, Youth Union members and youths to raise their awareness of the noble significance of the voluntary blood donation activities, promote their sharing and stay ready to donate blood to save lives. The school’s official emphasized that … [Read more...] about “Red Sunday” program collects over 450 blood units

The government last week reported that under its latest calculations, the state budget revenue last year hit about VND1.815 quadrillion ($78.93 billion), which is VND201.4 trillion ($8.75 billion) or 12.5 per cent higher than a previously reported figure. “The revenue has sufficiently met all tasks on expenditures for development investment, social security, salary reform, and other necessary tasks,” the government stated. Budget estimate shortcomings require modern fix Such a revenue increase was thanks to a rise in many items, with enterprises performing relatively well despite massive difficulties. For example, the economy’s most updated export turnover last year reached $371.3 billion, higher than the $368 billion earlier reported to the National Assembly – with the exact trade surplus of more than $12.4 billion, far higher than the only $1 billion earlier reported to the legislative body. However, the National Assembly Economic Committee (NAEC) found that the … [Read more...] about Budget estimate shortcomings require modern fix

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

Australian Prime Minister Anthony Albanese will pay an official visit to Vietnam on Saturday at the invitation of Vietnamese Prime Minister Pham Minh Chinh, according to the Ministry of Foreign Affairs. This will be his first visit to Vietnam since he took office in 2022. The Australian prime minister’s visit will be made two months after Australian Governor-General David Hurley’s state visit to Vietnam. His two-day visit is aimed at marking the 50th anniversary of diplomatic ties between Vietnam and Australia. Australian Prime Minister Albanese will meet several top Vietnamese officials during his trip, said the Australian Embassy in Vietnam. “The leaders will come to the table about measures to deepen the partnership in trade, investment, education, energy, and environmental protection," the embassy said. “Vietnam is one of Australia’s key strategic economic partners in Southeast Asia, which is a focus of Australian Prime Minister Albanese." “My first official visit to … [Read more...] about Australian prime minister to visit Vietnam this weekend

Factors potentially triggering the turmoil include monetary tightening, weak economic conditions, mismanagement, loss of confidence, maturity and currency mismatches, as well as instances of outright fraud and criminal activities. Most banks are resilient and avoid such difficulties -- but not all. Consequently, financial authorities must maintain preparedness to intervene whenever necessary, all while avoiding unintended consequences that could potentially sow the seeds of future banking crises. Global banking stress The current banking turmoil is largely due to the cycle of monetary tightening. Since early 2022, central banks have been quick to increase interest rates to bring inflation under control. In the United States, the effective Fed Funds rate increased by 500 basis points in just 14 months, a speed never observed since 1988. The European Central Bank has raised its policy rates by 400 basis points since mid-2022 and indicated that more rate hikes are forthcoming. … [Read more...] about Preparedness crucial in safeguarding banking sector

The plant, which is the largest solar power facility in the Central region of Vietnam, began construction on May 29, 2020, with a capacity of 330 MW and a total investment exceeding VND6.5 trillion ($277 million). On December 31, 2020, the Phu My Solar Power Plant started its commercial operation with an initial grid connection of 216 MW. The plant enjoyed a favourable power purchase price of 7.09 US cents/kWh over a 20-year period. After a two-year wait, the remaining 114 MW of the plant received official recognition for commercial operation on May 30 this year, making it the first successful renewable energy transitional project to achieve COD recognition. Bamboo Capital's completion of Phase 1 and Phase 3 of the power plant showcases its comprehensive approach and adherence to legal requirements. This accomplishment reinforces investor confidence and demonstrates the company's commitment to sustainable energy. With the entire 330 MW capacity of the Phu My Plant contributing to … [Read more...] about Phu My Solar Plant receives earliest COD