Economic development tax credits

Jakarta (VNA) - Indonesia’s economy is predicted to grow by only 2.5 percent this year, the lowest over the last four years and a 50-percent decline compared to 2019's growth rate. According to the Asian Development Outlook 2020 published recently by the Asian Development Bank (ADB), the COVID-19 pandemic that comes with falling commodity prices and financial market turmoil will cause serious impact on the Indonesian economy, as well as the world's this year. … [Read more...] about ADB projects Indonesia’s economic growth at 2.5 percent

At the same time, they must exert the utmost effort to achieve socio-economic development goals for 2020 set by the Party Central Committee and in resolutions of the National Assembly, the Government, and city and provincial party congresses and people’s councils. … [Read more...] about Localities asked to review impact of COVID-19 on development

It donated VNĐ1.2 billion (US$51,207) in cash to support urgent public needs and those on the frontlines. Of this, it gave VNĐ800 million ($34,158) to the Việt Nam Fatherland Front (VFF) – HCM City and VNĐ200 million to the VFF – Đà Nẵng City while the remaining VNĐ200 million was contributed by its employees and trade unions to the Central Committee of the VFF. … [Read more...] about Latest covid-19 news in Vietnam and Southeast Asia on April 7 (updated hourly)

Associate Professor Doctor Nguyen Thi Thuy Duong, lecturer at the National Economics University, said that in order to cover all businesses hit by COVID-19, the Ministry of Finance should stipulate businesses which were damaged by the pandemic would be supported from the package, and not distinguish specific industries. … [Read more...] about 16,000 businesses still need Ministry of Finance rescue

Hanoi (VNA) – The State Bank of Vietnam (SBV)’s net purchase of foreign currencies exceeded 11 billion USD in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately 63.5 billion USD. The figures were announced by SBV Governor Le Minh Hung at an online conference between the Government and localities held in Hanoi on July 2. He said the SBV has carried out a flexible currency policy to stabilise the average interest rate. The average lending interest rate was reduced by 0.5 percent over the January-June period. Meanwhile, credit grew approximately 6.9 percent from 2017, with its structure occupied mainly by those lent to the processing-manufacturing sector (16.3 percent) and rural agriculture (21 percent), as well as small- and medium-sized businesses (nearly 7.1 percent). Hung stressed that the credit structure has been shifting towards supporting the development of special production areas like export, rural farming, and the … [Read more...] about Foreign exchange reserves hit 63.5 billion USD