Consumers choose vegetables at a local supermarket. The consumer price index in January increases 6.43% year-on-year - PHOTO: VNA HCMC - Vietnam’s consumer price index (CPI) in January soars 1.23% against the previous month and 6.43% over January last year, the highest growth rate for January over the past seven years. … [Read more...] about CPI growth in January highest in seven years
E commerce growth 2018
If business households are forced to become enterprises, they will bear pressure because of the strict requirements on accountancy regime, books, invoices and vouchers. If so, they may ‘go underground’, try to evade tax, and escape the state’s control. Meanwhile, other business households are small and do seasonal business. … [Read more...] about What should be done to help Vietnamese businesses grow?
Bangkok (VNA) – Thailand’s Government has approved incentives to spur private investment of 110 billion THB (about 3.56 billion USD) and add 0.25 percent to economic growth in 2020. The measures include a corporate income tax deduction of 2.5 times expenditure on machinery, a one-year tax exemption for importing new machinery, and special-rate loans offered by the Export-Import Bank of Thailand for exporters to alter their machinery for export. The tax measures apply to new machinery purchased from Jan 1 to Dec 31, 2020. The 2.5-time tax deduction is not applicable to leased machinery. The measures are estimated to cost the government 8.6 billion THB in forgone tax revenue, said Narumon Pinyosinwat, a government spokeswoman. According to Narumon, the cabinet has approved a 350-million-THB budget to compensate Exim Thailand for the special interest rates. The Thai Finance Ministry said the fresh measures are essential to stimulate private investment and the local … [Read more...] about Thai government approves measures to stimulate private investment
HCM City (VNA) – The leather – footwear industry of Vietnam now has big opportunities thanks to free trade agreements (FTAs), but to make full use of those deals, it needs to remove bottlenecks relevant to the supporting industry, heard a forum on December 13. The Supporting Industry Forum 2019 was held in Ho Chi Minh City by the Industry Agency of the Ministry of Industry and Trade and the Nhan dan newspaper. It focused on the leather – footwear industry amidst opportunities created by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union – Vietnam FTA (EVFTA). Deputy Minister of Industry and Trade Do Thang Hai said leather-footwear is one of the key exporting industries of Vietnam. With an annual export growth rate of over 10 percent, the industry earned the country approximated 20 billion USD in 2018 and over 10 billion USD in the first half of 2019. The Vietnam Leather, Footwear and Handbag Association … [Read more...] about Footwear sector needs to remove bottlenecks to capitalise on FTAs
Cao Bang (VNA) - The Pac Bo festival 2019, the first of its kind, kicked off in the northern mountainous province of Cao Bang on March 6, attracting crowds of locals and visitors. The festival is designed to raise public awareness about the country’s revolutionary cause and history, as well as honour traditional cultural values and promote local tourism. It includes an array of activities, including a water procession and offering rituals at a temple dedicated to President Ho Chi Minh, folk art performances, a cake making contest and traditional sport competitions, among others. The event is hoped to help local people restore and conserve traditional cultural values, promote images of the UNESCO-recognised Non Nuoc Cao Bang Geopark, thereby fostering the province’s tourism. The Pac Bo historical relic is closely connected to revolutionary activities of President Ho Chi Minh, particularly when he returned home from abroad through Truong Ha commune of Ha Quang … [Read more...] about First Pac Po festival opens in Cao Bang province