The working group will also work on policies to give incentives to enterprises which make investment in manufacturing car parts. There will also be preferential credit packages for automobile supporting industries (car part manufacturing) and for buyers of domestically-made cars. … [Read more...] about When will taxes be lowered to reduce automobile prices?
Low middle income country
A businessman told VietNamNet that the explanation is ‘impractical’, and that it is common for enterprises to see their business results soar in Q4. This means that it is impossible for enterprises to estimate the profits of the whole year to calculate the amount of tax they have to advance. … [Read more...] about New regulation on temporary tax payments worries businesses
Mr. Nguyen Duc Hien, Deputy Head of the Central Economic Committee, said that over the past ten years, urbanization and urban development in Vietnam had seen rapid growth, promoting the country's economic development and achieving many set targets. The space and number of urban areas have increased rapidly from 33.5 percent in 2010 to nearly 39 percent in 2020. Urban areas were evenly distributed, creating a nuclear driving force for the process of socio-economic development. The urban economy is one of the three pillars of the economy, accounting for more than 7 percent of the country's gross domestic product (GDP). However, urbanization and urban development still show many shortcomings, such as the risk of imbalance in development between urban and rural areas, overloaded infrastructure, and asynchronous connection. Assessing the real estate market recently, Mr. Nguyen Van Sinh, Deputy Minister of Construction, said that the development of the real estate market is not sustainable. … [Read more...] about Urbanization spurs socio-economic development
Grandmothers also need acknowledgement for looking after children and performing secondary supporting roles within the family. Fortunately, Vietnamese honor family occasionally more deeply than in many Western cultures and the bond that often arises between the young and old here is quite strong. Many of my former students frequently named their grandparents, aunts, and uncles as their favorite people within their family, although this could also have a lot to do with mums and dads always pushing and demanding more from their kids as they grow up! … [Read more...] about Thank you, ladies!
HCM City (VNA) - Promoting exports to Singapore, which has open trade mechanisms and high-quality services, is viewed as a shortcut for Vietnamese small and medium-sized enterprises (SMEs) to send their products out to the world, according to industry insiders. At a conference held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) on October 7, centre deputy director Tran Phu Lu said Singapore plays an important role in Southeast Asia’s economy thanks to its strategic location and high-quality human resources. As the 37th-largest economy in the world, its per capita income stood at 59,590 USD in 2019, he said, adding that as its domestic consumption relies a great deal on imports, Vietnamese SMEs could penetrate into the market, especially in the context of formidable challenges posed by COVID-19. Vice President of the Vietnamese Chamber of Commerce Ltd (Vietcham) Singapore, Phan Phi Long, said that besides traditional distribution channels like FairPrice, … [Read more...] about Singapore an important market for SMEs to reach out to the world: Insiders