Vietnam national oil and gas group

Representative from PetroVietnam Camau Fertilizer JSC receives insignia as one of top 50 listed firms in Vietnam in 2022. Hanoi (VNA) – Four member companies of the Vietnam Oil and Gas Group (PetroVietnam) have been named in the list of the top 50 listed firms in Vietnam in 2022 compiled by Forbes Vietnam . They are Petrovietnam Gas Corporation (PV Gas), PetroVietnam General Service Joint Stock Corporation (Petrosetco), PetroVietnam Fertilizer and Chemicals Joint Stock Corporation (PVFCCo), and PetroVietnam  Camau Fertilizer JSC. PV Gas is at the ninth place in the list this year. This is the 10th consecutive year that the company has been honoured in the list. The company posted record revenue and profit in the first six months this year, with net turnover at 54.342 trillion VND (2.32 billion USD at current exchange rate), up 35% year on year and after-tax profit at 8.637 trillion VND, up 98% year on year. In the period, PV Gas produced and supplied more than 1 billion … [Read more...] about Four subsidiaries of PetroVietnam named in Forbes Vietnam’s list of top 50 listed firms

After Vietnam's tax authorities enhanced the collection of taxes from traders on digital platforms, including social networks and e-commerce sites, many traders are seeking ways to avoid paying them or pass the buck to buyers. Shopping on websites, e-commerce platforms, and social networks is a national trend. E-commerce has boomed in Vietnam with revenue of some US$13.7 billion in 2021. The figure is forecast to reach $39 billion by 2025. However, the tax revenue from this sector has not risen commensurately its growth. Multiple tricks to avoid taxes Minh Thu, living in Thu Duc City, a district-level city in Ho Chi Minh City, said after ordering a pair of shoes from an online trader on Facebook, she was surprised as the trader announced that from August 1, customers must make payments in advance and the trader will not offer the cash-on-delivery (COD) service as earlier. Money transfer descriptions must not include the words 'buy' or 'sell,' but Facebook or Zalo … [Read more...] about In Vietnam, online vendors seek ways to avoid taxes

A Petrolimex petrol station (Photo: VNA) Hanoi (VNA) – The Vietnam National Petroleum Group (Petrolimex) is adopting a range of solutions in order to complete production and business targets of the third quarter and the entire year of 2022 in the context of unforeseeable fluctuations in petrol prices. One of the solutions is to modernise inventory management while engaging in negotiations with major petrol distributors to ensure supply to meet social demand for petrol. At the same time, the group has taken steps to cut costs in all production and business activities through several projects on centralized fleet management, asset management and customer relationship management. Petrolimex has also worked to increase non-cash payment in retail sales and researched the possibility of building truck stops to provide better services for customers. Under its own plan on digital transformation, the immediate focus is to automate the network of petrol warehouse and retail outlets, … [Read more...] about Petrolimex applies solutions to cope with big fluctuations in petrol prices

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 8. - Prime Minister Pham Minh Chinh on August 8 described digital transformation as an important tool for the building of an independent and self-reliant economy and the extensive and effective integration into the world. He made the remark while chairing the third meeting of the National Committee on Digital Transformation in Hanoi. Read full story - Issues in the areas of public security and culture, sports and tourism will be the focus of the upcoming question-and-answer session of the 15th National Assembly (NA)’s 14th session on August 10, according to a freshly-released plan of the NA Standing Committee. Read full story - A delegation of the Royal Cambodian Armed Forces (RCAF) led by Lt. Gen. Hun Manet, Deputy Commander-in-Chief of the RCAF and Commander of the Royal Cambodian Army, is making an official visit to Vietnam. Following an official welcome … [Read more...] about ☕ Afternoon briefing on August 8

Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

Minister of Foreign Affairs Bui Thanh Son (Photo: VNA) Hanoi (VNA) - Minister of Foreign Affairs Bui Thanh Son wrote an article entitled ’55 years of ASEAN: One Vision, One Identity, One Community’ on the 55th anniversary of the Association of Southeast Asian Nations (ASEAN) (August 8, 1967-2022). Following is the full text of the article: “On August 8, 1967, the Association of Southeast Asian Nations (ASEAN) was established, initiating the process of extensive integration for the sake of peace, stability, and development in Southeast Asia and the region. From a group of Southeast Asian nations divided by wars, after 55 years of growth, ASEAN is today one of the most important, reputable, and successful regional organisations in the world, a ‘common home’ for 650 million people in 10 Southeast Asian countries with diverse culture, the fifth largest economic community in the world, and an important and reliable partner of many countries in the world, and an organisation that … [Read more...] about 55 years of ASEAN: One Vision, One Identity, One Community

Ly Son Island, a popular destination of Quang Ngai. Illustration. (Photo: tuoitre.vn) Quang Ngai (VNA) – Revenue from travel among Hanoi , Ho Chi Minh City and the five Central Key Economic Zone city and provinces exceeded 63.07 trillion VND (over 2.69 billion USD), heard at a conference on August 8. The conference was held in the district of Tu Nghia, the south-central province of Quang Ngai, to review the two-year cooperation for tourism development among the two metropolises and the central localities of Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh. The review was expected to lay ground for the continued implementation of initiatives to boost intra-bloc partnership in tourism development post-pandemic. Reports showed that intra-bloc tourist arrivals totalled more than 17,68 million last year, given that the sector was badly hit by COVID-19. Vice Chairman of the Quang Ngai provincial People’s Committee Tran Hoang Tuan addresses the … [Read more...] about Hanoi, HCM City boost tourism linkages with Central Key Economic Zone

Foreign Minister Bui Thanh Son addresses the ceremony (Photo: VNA) Hanoi (VNA) – Foreign Minister Bui Thanh Son made a speech at the ASEAN flag-hoisting ceremony in Hanoi on August 8 on the occasion of the 55th anniversary of the regional grouping. Following is the full text of his speech. Excellencies, Ladies and gentlemen, It is my great pleasure to welcome all of you to the ASEAN Flag-Hoisting Ceremony today to mark the 55th founding anniversary of ASEAN. I am also happy to see all of you, healthy and safe after two years of COVID-19 outbreak. The ceremony this morning brings me back to the solemn moment as the ASEAN Flag was hoisted high amidst the stirring ASEAN Anthem at the very successful 55th ASEAN Foreign Ministers’ Meeting in Phnom Penh last week. Standing before the ASEAN Flag, we are truly proud of what we all have achieved in pursuing the aspirations of nearly 700 million Southeast Asian people for an ASEAN Community of peace, solidarity, resilience and … [Read more...] about FM Bui Thanh Son’s remarks at ASEAN flag-hoisting ceremony

Hanoi is committed to working closely and effectively with Ho Chi Minh City and the Central Key Economic Zone in tourism. The link between Hanoi, Ho Chi Minh City, and the Central Key Economic Zone [comprising five localities of Thua Thien - Hue, Danang, Quang Nam, Quang Ngai, and Binh Dinh] is very important in the tourism development of those localities and the whole country. Nguyen Hong Minh, Deputy Director of the Hanoi Department of Tourism, emphasized the need for closer connection at the preliminary conference on tourism development linkage between Hanoi, Ho Chi Minh City, and the five localities for 2021-2025 on August 8 in Quang Ngai Province. tourism in Hanoi and six cities and provinces have had positive results in the past time. Photo: Sun Group After two years of implementation, despite difficulties due to the Covid-19 pandemic, the city along with other provinces and cities has actively exchanged information, built new orientations in local … [Read more...] about Hanoi strengthens tourism cooperation with Central Key Economic Zone

It has also become the fifth largest economic community in the world, a reliable and important partner of countries, and played a central role in dialogues, important cooperation and connectivity in the region. In an article in celebration of ASEAN’s 55th birth anniversary (August 8, 1967 - 2022), Vietnamese Foreign Minister Bui Thanh Son recalled that the birth of ASEAN on August 8, 1967 was the start of the process of an intensive connectivity for peace, stability, and development in Southeast Asia and the region. Building an ASEAN Community with common vision and identities The grouping gathered countries divided by war. Its inception reflected the common aspirations of many countries in the region for peace, stability, friendship, and win-win cooperation. According to FM Son, Vietnam’s admission to ASEAN in 1995 paved the way for the building of an ASEAN common house connecting 10 Southeast Asian countries. In 1997, ASEAN, for the first time, approved the ASEAN Vision … [Read more...] about 55 years of ASEAN – One vision, One identity, One community