New york state budget

Minister of Finance Ho Duc Phoc speaks at the 15th NA's thỉd session on May 23 (Photo: VNA) Hanoi (VNA) – The State budget overspending in 2020 stood at over 216.4 trillion VND (9.3 million USD), equivalent to 3.44 percent of GDP, statistics showed. It was 18.39 trillion VND and 151.89 trillion VND lower than the initial estimate and the permissible level set by the National Assembly , respectively. Minister of Finance Ho Duc Phoc revealed the figures while reporting on the 2020 State budget balance to the 15th National Assembly at the third session that opened on May 23. It comprised nearly 213.09 trillion VND in the central budget overspending and 3.32 trillion VND in local budget overspending. Phoc added more than 1.51 quadrillion VND was collected for the State budget in 2020, down 1.9 percent from the target. Meanwhile, over 1.7 quadrillion VND was spent, equivalent to 96.4 percent of the estimate. During 2015 - 2020, the State budget revenue was … [Read more...] about State budget overspending equivalent to 3.44 percent of GDP in 2020

"The United States and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, or IPEF, Biden said at a press conference alongside Japanese Prime Minister Fumio Kishida. "This framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensuring economic competitiveness in the 21st century," he said. Biden was due to make a formal rollout of the framework later Monday. He did not say what countries had already signed up to IPEF, which the White House is billing as a framework for what will ultimately become a tight-knit group of trading nations. Unlike traditional trade blocs, there is no plan for IPEF members to negotiate tariffs and ease market access -- a tool that has become increasingly unpalatable to U.S. voters fearful of undermining homegrown manufacturing. Instead, the program foresees integrating partners through agreed standards in four main areas: the … [Read more...] about Biden says 13 countries to join new Asia-Pacific trade framework

Retail prices of petrol in Vietnam rose by nearly VND700 to more than VND30,000/litre on May 23, setting a new record in the domestic petrol market. Vietnam's petrol prices rise to an all-time high over almost 10 years. Illustrative photo by Dantri The latest price adjustments unveiled by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance saw common petrol RON95-III reach VND30,657 per litre, marking a VND669 increase compared to the previous adjustments 12 days ago. Similarly, petrol E5RON92 also rose VND674 to be capped at VND29,633 per litre. Meanwhile, diesel was traded at VND25,553 per litre, representing a decline of VND1,097. The price of kerosene stood at VND24,450 per litre, down nearly VND763, and mazut was also adjusted down by VND962 to VND20,598 per kg. Following the latest price changes, the two ministries decided to stop using the petrol price stabilisation fund to subsidise prices of E5RON92 and RON95. However, they … [Read more...] about Retail petrol prices keep rising, set new record

Deputy Prime Minister Le Minh Khai (first on the left) is investigating the construction site of Provincial Road No.910 in Can Tho City. (Photo: SGGP) The Transport Ministry reported that the land compensation step in the first stage of the mega North-South Expressway project has finished. However, some technical infrastructure has not been fully moved. The total expense for construction until now has reached VND20,087 billion ($867 million), accounting for 35.4 percent of the contract value, and 0.7 percent later than the planned one. The disbursement volume for the four projects to be completed this year is 53.4 percent of the contract value, which is 2.6 percent later than expected. In the Southern region, the 21-kilometer coastal road project from Rach Gia City to Hon Dat District of Kien Giang Province has the total investment of VND600 billion ($26 million), and is planned to complete two years after its commencement date of January 2020. Since the construction work is … [Read more...] about VN determinedly stops slow public investment projects

Deputy Prime Minister Le Van Thanh speaks at  the third session of the 15th National Assembly On the morning of May 23, at the opening session of the third session of the 15th National Assembly, Deputy Prime Minister Le Van Thanh delivered a report on an additional assessment of the results of the implementation of the socio-economic development plan and the state budget in 2021 and that in the first months of 2022. Regarding additional results in 2021, the Government stated that 5/12 targets failed to meet the set goal. For instance, the gross domestic product growth rate reached 2.58 percent compared to the target of about 6 percent. Plus, GDP per capita reached US$3,680 against the target of $3,700, the contribution of total factor productivity to growth is about 37 percent compared with the target of 45 percent-47 percent, and the percentage of poor households with a multidimensional approach decreased by 0.52 percentage points compared to the target of 1-1.5 percentage … [Read more...] about This year’s economic growth target of 6 percent-6.5 percent huge challenge

He said that the session is taking place following the success of the fifth session of the N.A. Standing Committee, focusing on many important issues in the socio-economic development, the building of the Party and political system to meet the demands of the country’s reform period. Over the past one year, the N.A. has worked hard to improve its operational efficiency, while approving three laws and 45 resolutions which included many unprecedented regulations to ease difficulties facing people and businesses and promote socio-economic development in both short and long terms, the official said. He noted that so far, the country has seen positive progress in socio-economic development after putting the COVID-19 pandemic under good control, with fast economic recovery and expansion, normal education, social, cultural, healthcare and sports activities, ensured social welfare, security, defense, and expanded external relations. The N.A. leader said that the success of the 31st … [Read more...] about Efforts made to ensure highest efficiency of N.A.’s third session: Top legislator

The third session of the NA opened on May 23 (Photo: VNA) Hanoi (VNA) – In order to ensure the highest efficiency of the 15th National Assembly (NA)'s third session, NA agencies and deputies had made careful preparations on discussion contents, aiming for the highest outcomes with shortest sitting time, said NA Chairman Vuong Dinh Hue while opening the session on May 23. He said that the session is taking place following the success of the fifth session of the NA Standing Committee , focusing on many important issues in the socio-economic development, the building of the Party and political system to meet the demands of the country’s reform period. Over the past one year, the NA has worked hard to improve its operational efficiency, while approving three laws and 45 resolutions which included many unprecedented regulations to ease difficulties facing people and businesses and promote socio-economic development in both short and long terms, the official said. He … [Read more...] about Efforts made to ensure highest efficiency of NA’s third session: Top legislator

This decree provides interest rate support for loans in Vietnamese dong arising from lending activities of commercial banks to enterprises, co-operatives and business households. — Photo thoibaotaichinhvietnam.vn The Government has officially issued Decree 31/2022/ND-CP on interest rate support from the State budget for loans of enterprises, co-operatives and business households. This decree provides interest rate support for loans in Vietnamese dong arising from lending activities of commercial banks to customers that are enterprises, co-operatives and business households according to Resolution 43/2022/QH15 dated January 11 of the National Assembly and Resolution 11/NQ-CP dated January 30 of the Government. The State budget shall fully and promptly allocate funds for interest rate support for commercial banks to provide interest rate support to customers. Commercial banks provide interest rate support to ensure compliance with regulations, creating favourable conditions for … [Read more...] about Decree on 2% interest rate support package officially issued

An overview of 15th National Assembly's third session (Photo: VNA) Hanoi (VNA) – The 15th-tenure National Assembly (NA) convened the third session in Hanoi on May 23. The opening session is broadcast live on Radio the Voice of Vietnam (VOV1), the Vietnam Television (VTV), and the NA's TV channel. Before the opening, leaders of the Party, State and Vietnam Fatherland Front and NA deputies laid wreaths in tribute to President Ho Chi Minh at his Mausoleum. During the 19-day session – the longest since the beginning of this tenure, the legislative body will consider and approve five draft laws and three draft resolutions, which are designed to continue implementing the policy of safe, flexible adaptation to and effective control of the COVID-19 pandemic so as to recover the economy and support people and labourers in the new normal. Leaders and formers leaders attend 15th National Assembly's third session (Photo: VNA) After the opening remarks delivered by NA … [Read more...] about National Assembly’s third session opens

Speakers at last week’s conference noted that dozens upon dozens of multinationals are interested in the healthcare PPP model in Vietnam. Photo: Chi Cuong At last week’s conference on the issue, hosted by VIR , Deputy Minister of Planning and Investment Tran Duy Dong said that Vietnam’s healthcare sector is facing a number of big issues, including rising infectious and non-communicable disease figures, hospital overload, and an ageing population. The pandemic has also revealed some weaknesses in the sector. “To further improve healthcare service quality and meet demand, mobilising financial resources for new development of infrastructure and medical equipment is a key requirement,” he noted. For the past five years, the government has looked to strengthen the implementation of a model for public-private partnerships (PPPs) for the public sector, including in healthcare services. However, according to VIR’s editor-in-chief Le Trong Minh, the picture of such investment in … [Read more...] about More favourable rule system urged for healthcare PPPs