Permanent Deputy PM Truong Hoa Binh presented a report on seven tasks and solutions on socio-economic development by late 2019 on May 20. Permanent Deputy PM Truong Hoa Binh The report was presented at the seventh working session of the 14th National Assembly that opened the same day. Consolidating macro-economic foundation Specifically, the Government tasked all sectors and agencies to consolidate the macro-foundation; ensure big balances of the economy; and spur growth. The Government will focus on raising the forecast and analyzing quality; consolidating statistical, information, and report system on domestic and international circumstances in favor of management; conducting the monetary policy in a flexible and active manner; harmonizing fiscal policies with other macro-economic policies; and ensuring credit growth. The Government will continue to tighten financial and State budget disciplines; management of State budget spending and collection; provide tax … [Read more...] about Government sets seven socio-economic development tasks
Economic development tax credits
Gov’t sets seven socio-economic development tasks
Permanent Deputy PM Truong Hoa Binh The report was presented at the seventh working session of the 14th National Assembly that opened the same day. Consolidating macro-economic foundation Specifically, the Government tasked all sectors and agencies to consolidate the macro-foundation; ensure big balances of the economy; and spur growth. The Government will focus on raising the forecast and analyzing quality; consolidating statistical, information, and report system on domestic and international circumstances in favor of management; conducting the monetary policy in a flexible and active manner; harmonizing fiscal policies with other macro-economic policies; and ensuring credit growth. The Government will continue to tighten financial and State budget disciplines; management of State budget spending and collection; provide tax incentives for SMEs; prevent tax loss and invasion; and promote the use of e-invoices. Transforming growth modal The … [Read more...] about Gov’t sets seven socio-economic development tasks
NA adopts resolution on socioeconomic development plan for next year
NA adopts resolution on socioeconomic development plan for next yearThe Saigon Times Daily Shipping containers are being loaded onto a vessel at Cai Mep-Thi Vai Port in Ba Ria-Vung Tau Province. The National Assembly has approved a resolution on the socioeconomic development plan for next year - PHOTO: LE ANH HCMC – The National Assembly (NA) today, November 8, passed a resolution on the socioeconomic development plan for next year, including a gross domestic product (GDP) growth rate of 6.6%-6.8% and inflation of some 4%, which are considered prudent, reported news site VnEconomy. According to the resolution, the overall goals of the resolution are to maintain macroeconomic stability, control inflation and enhance the autonomy and competitiveness of the local economy. Before the resolution was approved, some NA deputies had proposed raising the GDP growth target for 2019 to 6.8%-7%, while some others suggested the rate should be kept unchanged from the estimate for this … [Read more...] about NA adopts resolution on socioeconomic development plan for next year
WEF hails Vietnam’s economic development
Peter Vanham, Media Lead at the US and Industries of the World Economic Forum (WEF) has hailed Vietnam's impressive economic development in an article posted recently on its website. A woman reads a newspaper while selling flowers in a Hanoi market November 14, 2006. Photo by Reuters In the article titled "The story of Vietnam's economic miracle" published September 11 on the WEF's website, the writer said he felt "boundless energy everywhere" in Hanoi. "Vietnam is young, growing, and anything feels possible," the article said. The article showed how has Vietnam grown to become a middle-income country from one of the poorest in the world when the 20-year American War ended in 1975. Under the government’s subsequent five-year central plans after the war, per capita GDP was stuck between $200 and $300 By the mid-1980s. But then something changed. In 1986, the government introduced Đổi Mới, a series of economic and political reforms, and steered … [Read more...] about WEF hails Vietnam’s economic development
Thai Nguyen Province working to develop ICs
(VEN) - The Department of Industry and Trade of Thai Nguyen Province has proposed solutions to avoid overlap and create more favorable conditions for the development of industrial clusters (ICs). Difficulties According to the master plan for Thai Nguyen’s IC development by 2020, with a vision to 2030, the province will have 35 ICs with total area of 1,259ha. As of date, some 18 ICs have come into operation. However management and development of ICs in the province still face many difficulties, one being the low occupancy rate that averages 39.32 percent. Other hurdles include a limited budget for investment in IC infrastructure, which depends mainly on businesses, many of which lack significant financial capacity. Investment attraction in ICs is also uneven. Districts with favorable conditions for economic development have attracted many projects. Dinh Hoa District, for example, has three ICs, but no projects have been registered. On top of it all, the efficiency of state … [Read more...] about Thai Nguyen Province working to develop ICs