Energy crisis

Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, U.K. Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-U.K. Strategic Partnership, as well as great chances for both sides to bolster their ties from the U.K.-Vietnam Free Trade Agreement (UKVFTA). He underlined that both sides should optimize advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favorable conditions for enterprises of both sides to explore each other’s market and foster connection, thus striving for a trade value of over USD 10 billion by 2023. Thanh affirmed Vietnam's high political determination in realizing commitments made at the … [Read more...] about N.A. Chairman attends Vietnam-U.K. high-level forum on economy, trade

An overview of the forum (Photo: VNA) Hanoi (VNA) – National Assembly Chairman Vuong Dinh Hue attended the Vietnam-UK high-level forum on economy and trade in London on June 29 (local time), as part of the leader’s ongoing visit to the UK. Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, UK Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-UK Strategic Partnership , as well as great chances for both sides to bolster their ties from the UK-Vietnam Free Trade Agreement ( UKVFTA ). He underlined that both sides should optimise advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favourable … [Read more...] about NA Chairman attends Vietnam-UK high-level forum on economy, trade

NA Chairman Vuong Dinh Hue witnesses the exchange of co-operation agreements between businesses and localities of Viet Nam and the UK. — VNA/VNS Photo Doan Tan National Assembly Chairman Vuong Dinh Hue attended a Viet Nam-UK high-level forum on economy and trade in London on June 29 (local time), as part of his ongoing visit to the UK. With the aim of stronger economic, trade and investment partnerships between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, British Secretary of State for International Trade Anne Marie Trevelyan, Member of Parliament Graham Stuart (the Prime Minister's Trade Envoy to Vietnam), and a large number of Vietnamese and British businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Viet Nam-UK Strategic Partnership, as well as great chances for both sides to bolster their ties through the UK-Vietnam Free Trade Agreement (UKVFTA). He underlined that both sides should optimise the … [Read more...] about NA Chairman attends Viet Nam-UK forum in London

Illustrative photo Now more problems have arisen with rising gasoline and oil prices that have created bottlenecks in growth momentum along with high inflation. Need for solutions Recently the Ministry of Finance submitted a draft Resolution to the Standing Committee of the National Assembly on reducing the environmental protection tax rate for gasoline and oil. It is proposed in the Resolution to reduce environmental protection tax from VND 2,000 per liter to floor level of VND 1,000 per liter, in order to curb rising inflation. However, the Ministry of Finance still keeps the same rate for Special Consumption Tax (SCT) and Value Added Tax (VAT) for gasoline. While these two taxes are on a relative value, when the tax base is larger, then more tax is collected and forms a large component of the current gasoline selling price. Previously, many experts had suggested that authorities must consider reducing these two taxes. During one session, a member of the National … [Read more...] about Flexible adjustment needed in growth economy