Businesses, experts urge gasoline tax cut By Minh Tam - The Saigon Times Daily HCMC – Many local enterprises and experts have urged a decline in taxes and fees related to oil and gas products to help support enterprises and consumers amid great impacts of the current economic downturn. With import tax of 12%, special consumption tax of 10%, value added tax of 10% and environment protection fee of VND1,000 per liter, the State is now collecting around VND5,500-6,000 on each liter of gasoline, or more than a quarter of the gasoline price now. A representative of a southern-based wholesale gasoline company suggested that the Ministry of Finance cut import taxes to reduce prices of gasoline in the coming time and prevent further gasoline price hikes in the following 10 days. Given increase of petrol prices from VND500-900 per liter on Wednesday, oil traders have only been able to compensate for losses of previous import lots. For products imported three and four days ago, enterprises … [Read more...] about Businesses, experts urge gasoline tax cut
Business
Vocational training to centre on businesses’ needs
In future the revised project on vocational training for rural labourers will be based on demands from enterprises. (Photo danviet.vn) Hanoi (VNA) - In future, the revised project onvocational training for rural labourers will be based on demands fromenterprises.In place of the usual ‘top-down’mentality where orders and targets are set by higher-ups, in 2018, the Ministryof Agriculture and Rural Development said its training programmes and curriculawill be crafted with input from enterprises.With the needs and criteria ofpotential employers being taken in, the training is hoped to achieve practicalresults, ensuring those who received training can be hired by the firms inneed.The change is in line with theGovernment’s new rural building programme and restructuring in the agriculturesector, said Ma Quang Trung, head of the department of cooperatives and ruraldevelopment, under the Ministry of Agriculture and Rural Development (MARD).The ministry said surveys willbe … [Read more...] about Vocational training to centre on businesses’ needs
Deputy PM Minh meets with RoK leaders, businesses
Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh on December 21 held a meeting with President of the Republic of Korea (RoK) Moon Jae-in as part of his three-day visit to the country. Deputy Prime Minister and Foreign Minister Pham Binh Minh (L) meets with President of the Republic of Korea Moon Jae-in At the meeting, Minh thanked the RoK President for attending and contributing actively to the success of the APEC Economic Leaders’ Week in Da Nang city in November 2017.He affirmed that the Government of Vietnam treasures and wants to further promote the strategic cooperative partnership with the RoK for the development of both countries and for peace and cooperation in the region and the world.Moon welcomed Minh’s visit which takes place at a time when Vietnam and the RoK are celebrating the 25th founding anniversary of diplomatic relations, thus deepening the bilateral relationship.He congratulated Vietnam on successfully hosting the APEC Year … [Read more...] about Deputy PM Minh meets with RoK leaders, businesses
BUSINESS IN BRIEF 21/12
Power project receives credit for implementation A credit contract, worth 3.3 trillion VND (160 million USD), for a 500 kilovolt power transmission project was signed on December 19 in Hanoi. The contract was signed between the State-owned Vietnam Electricity's Power Transmission Corp and the Bank for Industry and Trade of Vietnam ( Vietinbank) - Hanoi branch. The credit will fuel the 500 kV Pleiku-My Phuoc-Cau Bong project, which is part of the Government's national grid development master plan. Covering the provinces of Gia Lai, Dak Lak, Dak Nong, Binh Phuoc and Ho Chi Minh City , the project aims to ensure electricity supply to southern areas in the 2014-2015 period, as well as power grid connectivity across Vietnam , Laos and Cambodia in 2015. The 9.28 trillion VND project is also funded by the World Bank, the Vietnam Development Bank and the Asia Development Bank. Ministry eyes new fuel tax scales The Ministry of Finance is considering a more exact way of changing its … [Read more...] about BUSINESS IN BRIEF 21/12
Awards honour 14 business leaders in Vietnam
Organised by Enterprise Asia, the APEA is a regional recognition programme that aims to bond leading entrepreneurs across the region to spur greater innovation, fair practises and entrepreneurship development.The awards are presented to the finest entrepreneurs across the region each year, with award ceremonies held in over 13 countries, including Vietnam.The APEA is often compared to the Olympics for the stringent entry criteria and highly competitive judging parameters. Each nominee is subjected to a rigorous judging process, including financial verification by an appointed audit firm and mandatory physical site audits and interview, culminating in a confidential balloting process by Enterprise Asia’s committee.This year, the awards received close to 50 nominees and 14 winners across 11 industries were selected.At the ceremony, Hoang Nguyen Thu Thao, CEO of Nguyen Hoang Group, said: "Receiving this award is not only about my own happiness but also for more than 2,000 … [Read more...] about Awards honour 14 business leaders in Vietnam