Us trade deficit chart

Nowadays online shopping becomes more popular than in-store shopping The new Law on Tax Administration which took effect in mid-2020 has added regulations on the responsibilities of relevant ministries including the Ministry of Industry and Trade, the Ministry of Information and Communications, the Ministry of Finance, and the State Bank of Vietnam in tax administration for e-commerce business activities. Plus, the Decree No. 126/2020 also details e-commerce business for individuals. Accordingly, if an organization does business with an individual, the individual does not directly declare tax, but the organization is responsible for declaring VAT on the entire revenue of business cooperation activities, regardless of the form of business cooperation results. At the same time, the organization declares and pays personal income tax on behalf of the individual. Accordingly, with this provision, local businesses which cooperate with a foreign party shall pay tax on behalf of the … [Read more...] about Vietnam to tighten management, increase supervision to prevent tax loss

The city is keen to avoid any Covid-19 impacts that could derail its plan for socio-economic recovery for this year. The Hanoi People's Committee has urged local agencies to remain vigilant against the Covid-19 pandemic and accelerate the disbursement of public funds, seen as a key task for socio-economic recovery for the rest of the year. Electronics production at Rhythm Precision Vietnam, Soc Son District, Hanoi. Photo: Pham Hung Among the key tasks, the city would focus on the Covid-19 vaccine roll-out by providing boosters for eligible people, including the completion of vaccination for children aged 5-12 before September 2022, noted the municipal People’s Committee in a directive. The city’s authorities reiterated public investment is a key task for economic development and considered pubic fund disbursement a key criterion to evaluate the performance of each agency, department, and unit by year-end, especially leaders and senior officials. “Efforts … [Read more...] about Hanoi boosts socio-economic growth, but remains vigilant against Covid-19

The city's authorities will continue focusing on boosting economic recovery while addressing the concerns of the business community. An agreement signing ceremony to support access to concessional loans between the Hanoi Investment Fund for Development, the city's commercial banks and the business community took place at a conference connecting stakeholders in Hanoi on 15 August. An overview of the signing ceremony. Photo: kinhtedothi.vn The municipal Department of Industry and Trade and the Investment Fund for Development also signed an agreement on cooperation and information exchange on the same day to promote the recovery of the city’s businesses in the post-pandemic period. Speaking at the conference, Acting Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan said: “The conference is expected to facilitate the connection between local banks and businesses to support those who need  concessional loans.” She called on the … [Read more...] about Hanoi helps businesses get loans

Vice Chairman of the municipal People’s Committee Vo Van Hoan delivers the remark at the celebration ceremony of Singapore’s 57th National Day on August 15. (Photo: SGGP) Hoan delivered the remark at a ceremony to celebrate Singapore’s 57th National Day hosted by the Singaporean Consulate General in HCMC. Congratulating Singapore on its National Day, Hoan said he was impressed by its robust development over nearly six decades. Singapore is now one of the world’s most developed countries and a role model with a pioneering approach – “dare to dream, look ahead and seek new solutions and opportunities.” Built on the foundation of the flourishing relations between the two countries, HCMC-Singapore ties have produced good results, he said, noting that because of geographical proximity and cultural similarities, HCMC and Singapore boast great potential to supplement each other in various fields. According to the official, Singapore has been HCMC’s largest investor and second … [Read more...] about Singapore’s 57th National Day marked in HCMC

Jero supplies electricity, gas, and heat, as well as conducts the development, mining, processing, trading, and transportation of energy resources. Dang Van Thanh, chairman of TTC Group, has confirmed that Jera had bought a 35.09 per cent stake in Gia Lai Electricity JSC, a listed entity under TTC Group. Jera paid an unknown sum to International Finance Corporation (under the World Bank Group) and Armstrong Asset Management of Singapore for the majority ownership in Gia Lai Electricity, making it the biggest foreign shareholder in the firm, cited Bloomberg . Accordingly, TTC Group and its subsidiary Gia Lai Electricity plan to invest $1 billion to further boost its renewables capacity to more than 2,000 MWG. Meanwhile, Jera is expected to provide international expertise and technology to aid in this endeavour. Moreover, it is projected that by the year 2025, wind power will account for almost two-thirds of that mix, up from the current 25 per cent. TTC Group said it and Gia … [Read more...] about Japan’s biggest power generator acquires 35 per cent of TTC Group’s subsidiary

In a group photo: Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh (6th from left) and Graham Stuart, Minister of State (Minister for Europe) at the Foreign, Commonwealth and Development Office (4th from right) and Minister of State in the Cabinet Office Nigel Adams (5th from left). (Photo: VNA) London (VNA) – A Party delegation, headed by Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh, paid a visit to the UK from August 10 – 15, aiming to fortify the countries’ strategic partnership, particularly in economy, trade, and investment. During the trip, the delegation met many UK officials, namely Graham Stuart, Minister of State (Minister for Europe) at the Foreign, Commonwealth and Development Office; Deputy Speaker of the House of Commons Nigel Evans; Minister of State in the Cabinet Office Nigel Adams; Economic Secretary to the Treasury Richard Fuller; and General Secretary of the Communist … [Read more...] about Party officials visit UK for improved strategic partnership

At the ceremony (Photo: VNA) Tokyo (VNA) - The Vietnam Embassy in Japan on August 16 chaired a ceremony celebrating the Association of Southeast Nations (ASEAN)'s 55th founding anniversary with the participation of ambassadors/chargé d'affaires of the bloc’s 10 member states. In his opening speech, Vietnamese Ambassador Vu Hong Nam, who is the current rotating Chair of the ASEAN Committee in Tokyo (ACT), said ASEAN is now one of the most dynamic and successful regional organisations in the world. According to the ambassador, with a population of nearly 700 million and GDP exceeding 3.2 trillion USD, ASEAN is the world's 5th biggest economy. The bloc’s trade has so far recovered to the pre-COVID-19 level and is forecast to grow 4.9% this year and 5.2% in 2023. The group’s cooperation with its foreign partners has been increasingly deepened toward effectiveness. The diplomat attributed such results to unceasing efforts made by ASEAN people. Vietnamese Ambassador Vu … [Read more...] about Vietnam chairs ceremony marking ASEAN’s 55th founding anniversary in Japan

The Vietnamese Directorate of Fisheries required its subordinates in Ho Chi Minh City to verify whether a recently-circulated video capturing the release of an arapaima gigas that allegedly took place at a wharf in the city is true or not. Captioned 'Releasing 90-kilogram (198 pounds) arapaima gigas,' the 30-second video showed about 10 people on a boat returning a large arapaima back to the water. The location of the boat was believed to be at a wharf in District 8, Ho Chi Minh City. Arapaima gigas, also known as pirarucu, is an air-breathing fish that is native to the rainforest rivers of South America’s Amazon Basin and nearby lakes and swamps, according to National Geographic . Among the largest freshwater fish species, it can grow up to 15 feet long and weigh up to 440 pounds, though fish that big have not been reported for many years. It preys mainly on smaller fish, but can eat many other creatures given its size. The species has been introduced to parts of East … [Read more...] about Vietnam fisheries watchdog orders inquiry into video of giant arapaima release

The European Union is working to boost its presence in the Pacific through economic ties and new security commitments as geostrategic competition in the region intensifies, the bloc's ambassador to Pacific Island nations said on Tuesday. Ambassador Sujiro Seam told Reuters in an interview during a visit to New Zealand the EU had long been seen as a development partner in the Pacific and that it wanted to be perceived as an economic and strategic partner as well. The EU's push comes as major powers are vying for influence in the region, with the United States and Australia ramping up engagement in the Pacific after China signed a security pact with the Solomon Islands this year. "The geostrategic importance of the Pacific is recognised by everyone, including the European Union," Seam said. The European Union has long had a presence in the Pacific, mostly via France's ties to French Polynesia. In 2021, the European Union set out a formal Indo-Pacific strategy and announced a … [Read more...] about European Union working to increase economic, security ties in Pacific

An overview of the conference. — VNA/VNS Photo More than 100 businesses and 43 investors of industrial clusters and nearly 20 commercial banks participated in a conference to connect local firms in Ha Noi with commercial banks and the Ha Noi Development Investment Fund (HANIF). The event, launched on August 15, was jointly held by the city's Department of Industry and Trade, the Ha Noi Branch of the State Bank of Vietnam, and the Ha Noi Association of Main Industrial Products (HAMI). Addressing the event, Tran Thi Lan Phuong, Acting Director of the Ha Noi Department of Industry and Trade, said that the conference aimed to provide a chance for banks and investment funds to introduce soft loans and support programmes to businesses, helping them overcome difficulties and develop. In order to launch infrastructure projects in industrial parks and clusters in the city, the Ha Noi Department of Industry and Trade suggested that businesses should coordinate closely with credit … [Read more...] about Ha Noi connects commercial banks with local businesses