Debt collection

Deputy Prime Minister Vu Van Ninh, speaking to the Vietnam News Agency last month, stressed the jump was partly due to increasing recurrent spending, mostly for running government offices, state employees and other related expenses, which amounted to almost 70 percent of all spending.  … [Read more...] about Tax collection bonus up for debate

The budget income for the next two years is forecast to reach at least VNĐ3.11 trillion, including VNĐ1.4 trillion collected in 2019. The figure for 2020 is VNĐ1.7 trillion, which is “a difficult target” for the State budget, according to NA deputy Trần Văn Tiến from Vĩnh Phúc Province. … [Read more...] about Deputies fear State will miss budget targets

The second shift is accelerating Industry 4.0 adoption within organisations. Industry 4.0 refers to the set of practices and technologies that can rapidly transform the way organisations perform. Việt Nam could start by exploring the use of data at scale, analytics and business intelligence, development of human-machine interactions (for example collaborative robots) and advanced production methods. Educating and reskilling the workforce to prepare for this transition is key. Put together, these elements could massively enhance the productivity of any industry – in ASEAN countries, it can potentially increase productivity by 30-50 per cent in industries such as electronics, chemicals or pharmaceuticals. … [Read more...] about The right structural adjustments help Việt Nam achieve long-term growth aspirations

Fitch Solutions believes that this will add another push to the ongoing wave of manufacturing relocation to Vietnam, which will in turn boost the domestic economy and drive trade volumes higher. The global vaccine rollout should also bode well for sustained strong external demand in 2021 for Vietnamese exports, with external demand also supported by trade pacts such as the EU-Vietnam Free Trade Agreement (FTA), the UK-Vietnam FTA, and the Regional Comprehensive Economic Partnership. … [Read more...] about Vietnam budget deficit forecast at 3.6% of GDP in 2021

Total revenue of 19 Stated-owned enterprises reached over 767 trillion VND (33.26 billion USD), equivalent to 87.36 percent of the yearly target and 85.72 percent of the result in 2019. Their pre-tax profit was estimated at over 21 trillion VND, while the State budget payment of 17 out of the 19 enterprises hit over 56 trillion VND, equivalent to 112 percent of the goal for 2020 and 79.3 percent compared to that in 2019. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 13