Why alternative minimum tax

Printer production at Canon Vietnam (Photo: hanoimoi.com.vn) Hanoi (VNA) – Amid the slowing down of the global investment flows, experts held that improving both quality and number of foreign investment projects is a heavy task for Vietnam, requiring great efforts from the Vietnamese Government to fulfil the “dual targets”. According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), as of May 20, Vietnam had drawn 10.86 billion USD of foreign direct investment (FDI), down 7.3% year on year, including 5.26 billion USD of newly-registered capital, up 27.8%. Do Nhat Hoang, Director of the agency said that the increase in the amount of newly-registered capital in five months was higher than the 11% recorded in the first four months of this year. Meanwhile, the number of new projects in the five-month period also surged 66.4% year on year to 962 projects, showing foreign investors’ strong confidence in the investment environment of Vietnam … [Read more...] about Improving FDI quality, quantity crucial for Vietnam: Insiders

Inside a warehouse of JFE Shoji Steel Hai Phong Company in Hai Phong Province. — VNA/VNS Photo Canada Border Service Agency (CBSA) updated the timeline for auditing the anti-dumping tax on corrosion-resistant steel (COR) of Viet Nam and Turkey, according to the Trade Remedies Authorities of Vietnam. Particularly, CBSA will stop gathering information on June 15, and the parties will submit their arguments on June 22. The deadline for submitting information is June 29, and CBSA will announce the result on July 17. Previously, CBSA proposed anti-dumping and anti-subsidy investigations against COR steel imported from Turkey, the United Arab Emirates (UAE), and Viet Nam in November 2019. Viet Nam’s anti-dumping tax rate is ranging from 2.3 per cent to 71.1 per cent and is not subject to anti-subsidy tax because the subsidy level is only from 0.1 per cent to 0.2 per cent. However, the export turnover of Viet Nam's taxed products still increased strongly in 2020 and 2022, … [Read more...] about Canada to review duty taxes on Viet Nam’s corrosion-resistant steel

Latest figures from the central bank show that in late February the on-balance sheet non-performing ratio of the banking system stood at 2.91 per cent, an increase compared to 2.46 per cent in late 2016, 1.49 per cent in late 2021 and most recently, 2 per cent in late 2022. However, according to a State Bank of Vietnam (SBV) assessment, several sorts of debts have the potential to be turned into bad debts in the future, such as investment into corporate bonds for debt restructuring, hard-to-collect receivables, among others. “If such debts were considered, the non-performing loans (NPLs) ratio of the system might reach 5 per cent of total outstanding balances,” said SBV Governor Nguyen Thi Hong. One positive point is that credit institutions have been taking practical measures to ensure operational safety through boosting their loan loss reserve (LLR) funds for their bad debts . Accordingly, credit institutions have maintained a fairly high LLR ratio approximating … [Read more...] about How bad debts influence lending rates

At the same time, the flight frequency on the Ho Chi Minh City - Singapore route is kept at three flights a day for weekdays. On this occasion, the national flag carrier is offering a special incentive program for passengers buying tickets on all of its sales channels from agents, websites, and mobile apps. Specifically, a round-trip ticket between Hanoi and Singapore is from 5.799 million VND (246.9 USD) (including taxes and fees); and that on the Ho Chi Minh City - Singapore route is from 4.971 trillion VND (including taxes and fees). The offer is applied to passengers who buy tickets from now until December 31, 2023, and depart from June 15 to December 31. In addition, Vietnam Airlines offers one free baggage allowance for each passenger who buys an Economy Flex or Economy class ticket from now until July 31, 2023, applicable for the period of departure from June 15 to July 31, 2023. Vietnam Airlines is continuing to promote international flight routes, including opening new … [Read more...] about Vietnam Airlines increases flight frequency to Singapore

An overview of the NA's fifth session. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) deputies will continue their ongoing fifth session on May 30 discussing important matters, including a draft Law on Electronic Transactions (revised) and a draft resolution on pilot special policies for the development of Ho Chi Minh City. The draft Law on Electronic Transactions (revised) has seven chapters and 54 articles. Compared to the current version, the bill has 31 new and nine amended articles, while erasing a number of regulations in five and eliminating three articles. During the morning discussion, NA deputies will decide the investment policy for the project to construct road from National Highway 27C to Road 656 in Khanh Hoa province which links to Lam Dong and Ninh Thuan provinces, as well as the adjustment of the investment policy for Ka Pet reservoir in Ham Thuan Nam district of Binh Thuan province. In the afternoon, they are scheduled to listen to a proposal and a … [Read more...] about NA deputies continue to discuss draft laws, resolutions on May 30

Speakers at a meeting in HCM City on Monday to discuss ways for the city to attract remittances and investment. — Photo danviet.vn HCM City will improve its business climate and create favourable conditions to attract remittances and investment, said a city official. Speaking at a meeting on Monday, Nguyen Duc Lenh, deputy director of the State Bank of Viet Nam (SBV) HCM City branch, said the city planned to enhance monetary and foreign exchange policies and remittance services. Options for remittances include money transfers, cheques, bank transfers, prepaid cards and several other ways of sending money without a bank account. "Besides foreign investment (FDI), remittances are a major source that helps ensure the foreign currency supply and stabilise the national foreign exchange reserves," he said. Financial and banking expert Nguyen Tri Hieu said Viet Nam should ensure stable macroeconomic policies to increase the confidence of overseas Vietnamese to send back money for … [Read more...] about HCM City seeks to attract remittances, investment

HCM City seeks ways to attract more remittances. (Photo: VNA) HCM City (VNA) – The southern largest economic hub of Ho Chi Minh City is striving to achieve an annual growth rate of at least 10% in the inflow of remittances during the 2023-2025 period and maintains this rate in 2025-2030. The information was heard at a seminar held in the city on May 29 by the State Committee for Overseas Vietnamese Affairs of HCM City, in coordination with the State Bank of Vietnam (SBV) Branch in HCM City to seek comments and solutions of overseas Vietnamese intellectuals to effectively attract and optimise remittance resources in the city. Remittances to Ho Chi Minh City have always maintained a relatively high growth rate and play a crucial role in the city’s socio-economic development. (Photo: VNA) According to Nguyen Duc Lenh, Deputy Director of the SBV Branch in HCM City, remittances to the city have always maintained a relatively high growth rate and play a crucial role in … [Read more...] about HCM City seeks ways to attract more remittances