Vietnam striving to promote sustainable marine aquaculture development Vietnam striving to promote sustainable marine aquaculture development hinh anh 1 A shrimp farming area in Phu Yen province Vietnam is to have 280,000 ha of marine aquaculture area and 10.5 million cubic metres of farming cages by 2025, according to the Ministry of Agriculture and Rural Development (MARD). Annual marine aquaculture output and export turnover are expected to reach 850,000 tonnes and between 800 million and 1 billion USD, the ministry said. The MARD has taken a series of measures to promote sustainable marine aquaculture in coastal areas nationwide, towards turning the sector into a key part of the country’s maritime economy by 2045. Deputy Minister of Agriculture and Rural Development Phung Duc Tien said agencies have coordinated with coastal localities to review and build a plan for aquaculture development in Vietnam to 2030 with a vision to 2045. The plan will focus on improving the output, quality, and economic efficiency of marine aquaculture, protecting the environment and adapting to climate change, restructuring production activities, and building value chains for each group of products, with industrial marine aquaculture to play a key role. Incentive policies will be available to offshore industrial aquaculture enterprises, to encourage them to invest. Attention will be paid to creating business communities in offshore aquaculture in major coastal cities and provinces, including Quang Ninh, Hai Phong, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Ba Ria - Vung Tau, Ca Mau, and Kien Giang, as well as others with substantial potential. Marine aquaculture and aquatic processing centres, logistics services, and fisheries infrastructure will be developed in north-central and central coastal localities from Thanh Hoa to Binh Thuan. Priority will be given to developing models of multi-species farming and in supporting establishments …
Income tax proposals
Consistency in legal documents needed to develop science and technology: expert
Việt Nam needs to ensure consistency in legal documents on science and technology development to tap its potentials. — VNA/VNS Photo Anh Tuấn With great potential amid the ever-growing importance of science and technology, Việt Nam has promoted investment in this field by offering tax incentives and resources. Former Minister of Science and Technology Nguyễn Quân talks to Khoa học và Phát triển (Science and Development) online newspaper about the limitations in legal documents that regulate science-technology investment in Việt Nam and recommendations for the country to unlock its potential in this field. Early this year, the Finance Ministry issued Circular 03/2021/TT-BTC on Corporate Income Tax (CIT) exemption and reduction policies for science-technology enterprises. What is new in this circular? Similar tax incentives on science-technology companies were stipulated in two decrees in 2007 and 2010 respectively and another circular. This new document is expected to make tax procedures easier for science-technology businesses. However, there are some limitations in Circular 03. For example, previous legal documents regulated that science-technology businesses are entitled to the same tax incentives applied for high technology (hi-tech) companies or those investing in hi-tech parks. This means that they enjoy tax rate of 10 per cent for 15 years or during the life span of the project. However, Circular 03 doesn’t specify CIT rates to which science-technology companies are entitled, so there is a chance that they may be entitled to CIT exemption and reduction for a total of just 13 years. This will make investing in science and technology less attractive and put science-technology companies at a disadvantage compared to hi-tech companies, companies investing in hi-tech zones or companies that have hi-tech projects. What is more, Circular 03 is about preferential tax policies while previous documents regulated other issues like human resources, …
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Vietnam to declare national coronavirus epidemic, stops public transport
The Hanoitimes - Prime Minister Nguyen Xuan Phuc asked citizens to stay home and limit travel. Vietnam’s Prime Minister Nguyen Xuan Phuc on March 30 agreed to the Ministry of Health’s proposal on declaring Covid-19 a national epidemic given the fast and wide spread of the coronavirus in the country. Vietnam’s Prime Minister Nguyen Xuan Phuc. Photo: VGP Accordingly, the PM required local authorities to suspend public transportation and limit private vehicles. He asked people nationwide to stay at home, practice social distancing of at least two meters, and notably, to not to travel to other places in the context that people in big cities have been moving to the countryside for shelter against the pandemic. State agencies and businesses are required to allow employees to work from home except for special units and manufacturing facilities. The PM said this is a decisive time for the fight against the epidemic that requires all forces to participate in. Further action At the meeting, Phuc asked Deputy Prime Minister Trinh Dinh Dung to take charge of the supply of medical equipment, especially ventilators. Meanwhile, he asked related ministries to ensure sufficient supply of essential goods and food without price hikes. The PM said that the government will have a gathering on April 1 to discuss support to very low-income earners who face difficulties due to anti-pandemic measures. He also agreed with the National Steering Committee on Covid-19 Prevention and Control to ask insurance companies to stop launching coronavirus-related insurance packages. Earlier, at the PM’s order, Vietnam has closed non-essential services from March 28 until April 15. In early February, Vietnam declared the national epidemic after the country found six infected cases, including one under human-to-human transmission. According to media reports on March 8, the Hanoi city government asked for the Ministry of Health for a green light to declare …
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