Therefore, in the short term, consumption demand stimulus will be effective with interventions in the price of goods and services. A subsidy policy will be able to do so directly or indirectly, but its focus of attention should be placed on food and foodstuff, since the need for safe, quality food is considerable among the three income groups mentioned above. Another thing to do is to boost the accessibility of commodity groups related to housing and home appliances. For example, help may come in the form of value added tax adjustments, or direct support for businesses. In case it is necessary to offset the VAT revenue deficit, the personal income tax rate bracket can be modified, reducing the number of taxable groups and putting up the tax rate for high-income earners. … [Read more...] about Demand stimulus: where to begin?
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Deputy Prime Minister Vũ Đức Đam spoke at the National Conference on Tourism Development in the central province of Quảng Nam on Saturday, stressing State agencies, businesses, travel agencies and residents should promote links and efficient co-operation to help the tourism industry overcome the most difficult time after the pandemic. … [Read more...] about Domestic market to help tourism sector in post-COVID-19-period
The Ministry of Culture, Sports and Tourism in co-ordination with the Quang Nam provincial People's Committee and the Private Economic Development Research Board launched the National Tourism Conference 2020 on November 28 with the theme of "Linking, Action and Development". In attendance at the event were hundreds of travel operators from across the country. Speaking at the conference, Deputy Prime Minister Vu Duc Dam emphasized that the local tourism industry has since established for 60 years and has development associated with several national historical periods. Overall, it has made plenty of positive contributions to boosting economic development, expanding diplomatic relations, and encouraging cultural and people-to-people exchanges between with other countries across the globe. The Deputy PM added that digital transformation in tourism development is vital, not only for the industry, but for all other economic sectors. The digital transformation and application of … [Read more...] about National Tourism Conference seeks solutions to save tourism industry