Prime minister rajiv gandhi

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

The National Assembly (NA) will discuss the VAT reduction from the existing 10 per cent rate to 8 per cent on June 1 before receiving an approval from NA deputies in a resolution slated for June 24, the last day of the ongoing fifth session. The VAT cut proposed by the government is set to be applied from July 1 to the end of 2023 for all types of goods and services currently subject to a 10 per cent VAT rate. The initiative is part of Resolution No.43/2022/QH15 released early last year on fiscal and monetary policies supporting the Programme on Socioeconomic Recovery and Development. Consumers of many types can benefit from VAT cuts, photo Le Toan Under Resolution 43, the 2 per cent cut was applied last year for goods and services subject to a 10 per cent rate, except for various goods and services such as telecommunications, IT, financial and banking activities, securities and insurance, trading of real estate, metal and precast metal products, mining products … [Read more...] about Support to continue in form of VAT cut

The government last week reported that under its latest calculations, the state budget revenue last year hit about VND1.815 quadrillion ($78.93 billion), which is VND201.4 trillion ($8.75 billion) or 12.5 per cent higher than a previously reported figure. “The revenue has sufficiently met all tasks on expenditures for development investment, social security, salary reform, and other necessary tasks,” the government stated. Budget estimate shortcomings require modern fix Such a revenue increase was thanks to a rise in many items, with enterprises performing relatively well despite massive difficulties. For example, the economy’s most updated export turnover last year reached $371.3 billion, higher than the $368 billion earlier reported to the National Assembly – with the exact trade surplus of more than $12.4 billion, far higher than the only $1 billion earlier reported to the legislative body. However, the National Assembly Economic Committee (NAEC) found that the … [Read more...] about Budget estimate shortcomings require modern fix

At the signing ceremony (Photo: VNA) HCM City, (VNA) – The Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City and Cadence Design Systems , a multinational computational software company of the US, on May 30 signed a memorandum of understanding on cooperation in developing electronic design manpower and promoting the semiconductor industry in Vietnam. Under this partnership, Cadence, a world leading company in electronic design, can provide integrated circuit (IC) design software tools and related training programmes for universities in HCM City via its academic network. Nguyen Anh Thi, head of the SHTP management board, said the cooperation with Cadence will give local students a chance to access the latest technologies and methodologies in IC and system design, and acquire practical experience that will help them succeed in the high-tech industry. It will also help strengthen the capability of the SHTP Chip Design Centre, thus contributing to the local semiconductor … [Read more...] about Saigon Hi-Tech Park partners with US firm to improve IC design capability

Customs officials checks the transportation of goods at Huu Nghi International Border Gate via a digital border gate platform. — VNA/VNS Photo Anh Tuan Smart border gate control should be launched to prevent congestion and facilitate cross-border trade in farm products between Viet Nam and China. The proposal was raised at the working session between Viet Nam Ministry of Agriculture and Rural Development and China’s Guangxi Province on Tuesday on measures to promote the trade exchange of farm produce between the two countries. Guangxi was the largest gateway for agricultural exports from Viet Nam to China. Statistics of the China Customs showed that around US$350.4 million worth of agricultural products was imported to China via border gates with Guangxi Province in the first four months of this year, accounting for 19.7 per cent of Viet Nam’s total agricultural exports to China. According to Nanning Customs, the peak harvest seasons for fruits such as durian and mango are … [Read more...] about Smart border gate control proposed to facilitate trade of farm produce with China