Samunnati value chain finance

At a press conference on April 5, the MoF reported that total state budget revenue reached VND 381 trillion (over USD 16.4 billion) during the last three months, equivalent to 27 percent of the targeted figure for this year – higher than the 23 percent of annual targeted revenue achieved during the same period last year. That sum included VND 315.4 trillion gained from domestic sources, up 13.8 percent year-on-year, the ministry said, adding that 49 of the 63 provinces and centrally-run cities had revenues from domestic sources equivalent to over 24 percent of their estimates for this year. Fifty-four localities reported year-on-year increases in their Q1 revenues. Photo: baohoabinh.com.vn. Meanwhile, the state budget spending during the period surpassed VND 315 trillion, equivalent to 19.3 percent of this year’s spending estimate. The MoF said spending tasks have been performed in line with the set plans, ensuring social security. As the spending demand … [Read more...] about State budget surplus recorded in Q1: Finance Ministry

Thai Prime Minister Prayut Chan-o-cha In his speech delivered at the CLMVT forum in Bangkok on June 24, the PM said despite the CLMVT region becoming a main player in the global value chain, the region faces threats from rapid technological development and geopolitics. These new technologies will render the existing production network, he said. According to Prayut, contract manufacturing and production will slowly decline as new production networks in different regions, which embrace the modern value chain, take their place. In terms of geopolitical threats, countries in the region must have effective risk management in place to cope with the changes in the global market, he added. The sectors most vulnerable to disruption are agribusinesses, textiles, automobile, and electronics, all traditional strengths of the CLMVT region, he said, adding the service industry within the CLMVT region will also be affected by these trends. He urged the governments to work together to support … [Read more...] about Thailand calls for regional countries’ modernization to increase competitiveness

Visitors check information on products at the fair (Photo: VNA)   Hanoi (VNA) - As many as 76 specialties from the northern mountainous province of Lao Cai are being displayed at the Lao Cai agricultural and OCOP products exhibition which began on December 6 at the Big C Thang Long supermarket in Hanoi. The three-day event is part of efforts made by the province and Big C, Central Group Vietnam, to introduce safe and high-quality products from other regions to the capital city’s citizens, as well as helping promote “One Community One Product” (OCOP) programme and grow local businesses and farmers. On display are 45 OCOP products certified with three to five stars such as Seng Cu rice, Tham Duong glutinous rice, sausages, dried pork, smoked buffalo meat, cabbages, chayote, kohlrabi, mushrooms, Muong Khuong chili sauce, dried bamboo shoots, medicinal herbs, tea, wine, vermicelli and smoke salmon. According to Nguyen Xuan Nhan, Deputy Director of the … [Read more...] about Capital gets to taste Lao Cai province’s local specialties

A customs official checks goods at Ben Luc Customs Sub-Department in the southern province of Long An. — VNA/VNS Photo Hoang Hung Simplified tax and customs procedures would attract more foreign investors to Viet Nam, said South Korean Ambassador Kim Do-huyn at a conference in Ha Noi on September 17. Ambassador Kim said Viet Nam needed to create a more transparent and fairer tax environment for businesses. South Korea is the largest direct investment partner in Viet Nam. According to statistics, South Korea has 6,760 projects with total registered capital of US$59 billion. Speaking at the meeting, which was held by Viet Nam’s Ministry of Finance and the South Korean Embassy in Viet Nam, Deputy Minister of Finance Vu Thi Mai said that administrative procedures, tax policies and customs were always a top concern. “The finance ministry is ready to listen to comments from enterprises to solve difficulties related to administrative procedures, tax and customs policies, … [Read more...] about VN and South Korea discuss tax policies