Budget revenues

An overview of the 15th National Assembly's third session. (Photo: VNA) Hanoi (VNA) – Continuing the working agenda of the 15th National Assembly (NA)’s third session, deputies on May 25 morning discussed in groups the supplementary assessment of the implementation of the socio-economic development plans and the state budget in 2021 and in the first months of 2022, the 2020 State budget balance, and the practice of thrift and wastefulness prevention in 2021. The implementation of the 14th NA’s Resolution 42/2017/QH14, dated June 21, 2017, on piloting the settlement of bad debts of credit institutions and the extension of the time limit for application of all provisions of this resolution were also tabled. In the afternoon, the National Assembly will listen to Minister of Health Nguyen Thanh Long’s report on the draft Law on Medical Examination and Treatment (amended), and a verification report on this draft law delivered by Chairwoman of the NA Committee for Social Affairs … [Read more...] about NA discusses amended draft laws on medical check-up and treatment, cinematography

Chris Yeo, who heads Grab's payments and rewards business and has been with the company for nearly six years, is leaving along with Jeffrey Goh, who leads the payments gateway business, the sources familiar with the matter told Reuters . Both Yeo and Goh worked at the Grab Financial Group's GrabFin unit, which provides digital payments, financing, insurance, rewards, and wealth management services, and is an important plank of Grab's regional growth strategy. The latest executive departures come as Grab's losses rose to $3.6 billion in 2021 from $2.7 billion a year earlier, while revenue rose 44 percent, with investors focusing on how the firm plans to stem losses. Grab narrowed its loss in the first quarter. Since listing on Nasdaq in December after a record $40 billion merger with a blank check firm, Grab's shares have shed three-quarters of their value against a backdrop of plunging tech stocks and its continued losses. "Many business groups within GrabFin have … [Read more...] about Two senior Grab executives quit as company rejigs unit to stem losses

The sum, approved Tuesday by provincial legislators, is half of the total cost needed for clearing that section. Stretching almost 54 kilometers (33 miles), Bien Hoa – Vung Tau Expressway will connect the southern industrial provinces of Dong Nai and Ba Ria-Vung Tau, which are home to several seaport logistics complexes. It will run 34.2 kilometers across Dong Nai. Ba Ria – Vung Tau, home to beach town Vung Tau, had previously agreed to pay VND670 billion, or half the cost to clear the provincial section site. The rest of the sum for site clearance will be extracted from the state budget. As approved, the expressway will cost around VND18 trillion of the public funds and be completed by 2025. In its first phase, the route will have four to six lanes and allow vehicles to travel at 100 kph. It is one of three expressways the government plans to build to meet the urgent transportation needs of the southern key economic region, which comprises Ho Chi Minh City and the … [Read more...] about Dong Nai contribute $111 mln to expressway linking with beach town Vung Tau

Illustrative photo. (Source: VNA) Hanoi (VNA) – Mekong Delta localities are enlarging areas for the cultivation of premium-quality and fragrant rice varieties highly favoured by major markets in an effort to sustainably boost exports. Soc Trang plans to raise the revenue of agricultural cultivation to over 250 million VND (10,770 USD) per hectare in average by 2025 and increase the share of specialty and premium-quality rice to more than 80 percent of the total output. To this end, the province is taking measures to improve the effectiveness of rice branding and upgrade the value chain of specialty rice products, including the widely-known ST24 and ST25. It will also promote clean and environmentally-friendly cultivation of rice to enhance the sustainability of the sector. Soc Trang has zoned off farming areas of specialty rice varieties for export, established production cooperatives, and accelerated use of advanced technology into cultivation. Last year, … [Read more...] about Mekong Delta eyes larger premium-quality rice areas to boost exports

A corner of Can Tho city (Photo: VNA) Can Tho (VNA) – Can Tho city expects to become the centre of trade and services in the Mekong Delta , with rapid and sustainable development. Under a plan on trade development in Can Tho by 2030 with a vision towards 2045 issued by the municipal People’s Committee, the city will serve as a firm launch pad to boost production, build Vietnamese brand names, and protect interests of consumers and businesses. Can Tho’s total retail sales of goods and services is projected to grow from 8-10 percent between 2021 and 2030, 10-12 percent in 2026-2030, and 12-13 percent in 2031-2045. The plan targets a strong goods distribution network, supply-demand balance, and e-commerce development with cutting-edge technologies and technical infrastructure. Revenue from e-commerce is set to rise by at least 10 percent during the 2021-2030 period, with 70 percent of transactions to be conducted online and half of small- and medium-sized enterprises … [Read more...] about Can Tho striving to become trade centre in Mekong Delta

A customer buys medicine at a Pharmacity store. (Photo: Pharmacity) Hanoi (VNS/VNA) - The pharmaceutical industry is growing steadily because input costs are stable compared to other industries and businesses are less affected in a high inflation environment. In the first quarter of 2022, according to the business results of the listed pharmaceutical companies, SSI Research Co estimated that the total pharmaceutical revenue of the country increased by 7 percent over the same period last year, in which the revenue from the pharmacy channel increased by 23 percent over year-on-year and the hospital channel decreased by 5 percent year-on-year. SSI Research assesses that the pharmaceutical industry will grow strongly in the future. Pharmaceutical demand will continue to increase until the end of 2022 when revenue from the hospital channel recovers strongly, especially in southern provinces, helping to increase the revenue reach of 13 percent of the figure in the second half of … [Read more...] about Pharmaceutical industry sees promising prospects

Facebook ads in Viet Nam will be subject to a 5 per cent value-added tax beginning from June 1. — Photo vtv.vn Facebook ads in Viet Nam will be subject to a 5 per cent value added tax (VAT) beginning from June 1. This affects advertisers who have set Viet Nam as their “Sold To” country on their business or personal address. In addition to Viet Nam, starting from April and September, Meta, Facebook's parent company, will also add VAT to advertising costs in Cambodia and Thailand, respectively. Not long ago, Facebook also charged a foreign currency conversion fee of 1-3 per cent for transactions in Vietnamese dong. Within the framework of Prime Minister Pham Minh Chinh's working visit to the US on May 20, representatives of the Public Policy Department of Meta had a meeting and discussed with the Prime Minister and the Ministry of Planning and Investment. Meta said that it would register, declare and pay foreign contractor tax in Viet Nam. Previously, Meta had a meeting … [Read more...] about Facebook ads in Viet Nam to be charged 5% VAT from June 1