Representatives of enterprises in EPZs-IPs participate in the conference. (Photo: SGGP) The Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) cooperated with the State Bank of Vietnam – HCMC Branch and some commercial banks to organize the conference to connect banks and enterprises with the theme "Accompanying enterprises - Effective financial solutions to support enterprises in EPZs-IPs in HCMC in 2022”. The conference aims to find solutions to support enterprises in EPZs and IPs to easily access financial sources with appropriate interest rates and loan terms to develop production and business activities. This activity has helped banks to better grasp the characteristics of enterprises in the field of industrial production, thereby studying shortening and simplifying the loan processes and procedures, actively approaching small and medium-sized enterprises to disburse loans according to the Government's preferential policies, especially industrial … [Read more...] about Enterprises in EPZs, IPs supported to access suitable credit sources
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Hanoi’s economy posts solid growth in first half of 2022
Hanoi's GRDP growth in the first half of this year shows the economic recovery with the development of many key industries. Hanoi's economy has posted solid growth in the first six months of 2022, director of the municipal statistics bureau Dau Ngoc Hung said at a press conference on June 30. The city's gross domestic product (GDP) has expanded by 7.79% compared to the same period last year, in which, growth in the first and second quarters was 6.02% and 9.49%, respectively, Hung said. He stressed that GRDP growth in the first half of this year is higher than that in the six-month periods in recent years, showing a clear trend of recovery and development quarter after quarter of key industries. In addition, the services sector in the first six months of the year increased by 9.05% year-on-year (with increases of 6.4% and 11.68% in the first and second quarters, respectively) and contributed 5.91 percentage points to the growth of GDP. Director of the Hanoi … [Read more...] about Hanoi’s economy posts solid growth in first half of 2022
MoF proposes reductions for four types of taxes on petroleum products
The high petrol prices have hindered economic recovery. (Photo: SGGP) Thus, along with the solution to cut the environmental protection tax rate for gasoline, oil, and grease products to the floor level in the tax bracket until December 31, 2022, and the solution to reduce the MFN tax rate, the MoF has continued to put forward more tax cuts to help lower gasoline and oil prices. Up to now, the MoF has proposed to reduce four types of taxes on this essential product. According to the MoF, it is crucial to slash the MFN tax rate to 12 percent for gasoline to diversify petroleum supply to avoid being passive by depending on import sources from South Korea and the ASEAN only. Besides, people and businesses will directly benefit from tax reductions on gasoline and oil products, thereby contributing to directly reducing consumers’ expenses as well as indirect costs from other consumer products. Previously, because petrol and oil prices have continuously climbed and are currently … [Read more...] about MoF proposes reductions for four types of taxes on petroleum products
Hundreds of businesses to receive support from USAID IPSC Project
On June 30, the project started to revise and select eligible and qualified businesses to receive support packages for the second intake of 2022, running from April 1 to June 30. The USAID IPSC, with a total budget of $36 million, is currently Vietnam's largest private-sector technical assistance project funded by the United States Agency for International Development (USAID). The project aims to support businesses to overcome the pandemic, improve their capacity in governance, technology, financial access, innovation, and market access, and promote a favourable business investment environment. USAID IPSC targets to support 5,000 small and growing businesses. USAID IPSC officially launched and opened registration on January 18. The applicants go through selection processes (the first in April, the second in July, and the third in November), to receive support packages. In 2022, USAID IPSC offers six different support packages for businesses based on overall project … [Read more...] about Hundreds of businesses to receive support from USAID IPSC Project