If business households are forced to become enterprises, they will bear pressure because of the strict requirements on accountancy regime, books, invoices and vouchers. If so, they may ‘go underground’, try to evade tax, and escape the state’s control. Meanwhile, other business households are small and do seasonal business. … [Read more...] about What should be done to help Vietnamese businesses grow?
Why is vietnam economy growing
Kien Giang (VNA) - Growing Tac Cau pineapple, a specialty fruit in southern Kien Giang province, under Vietnamese good agricultural practices (VietGAP), has offered high profits for farmers in Chau Thanh district’s Binh An commune. Ho Van Dao, who has grown the fruit under the VietGAP standards for one year, said he had harvested 6,000 pineapples per hectare per year compared to 4,500 pineapples per hectare a year in the previous years. VietGAP pineapples are bought at a higher price because they look better, he said. They sell for 7,000 -12,000 VND (0.3-0.52 USD) a fruit, which is 1,000-2,000 VND higher than pineapples planted under traditional farming methods. Farmers growing pineapples under the VietGAP standards earn a profit of nearly 50 million VND (2,160 USD) per hectare a year. Organic fertiliser, which improves soil fertility, helps to reduce labour costs spent for tending the fruit. Tac Cau pineapples have been planted in the Mekong Delta province for more than 70 … [Read more...] about Farmers earn high incomes from VietGAP pineapples
Quang Nam (VNS/VNA) - Sitting on the banks of the Thu Bon River, Dai Binh village used to be known for its bumper fruit harvests in the central province of Quang Nam, but now it has been transformed into a sustainable community-based farm tourism destination. Just 20km from the My Son Sanctuary, the village with a population of 1,200 earned a living for three centuries from growing fruits, but now it's day-trippers who are bringing in the cash. The village was established in 1778 during the country’s southward border expansion journey under Lord Nguyen Hoang. The emigration settled the village on the banks of the Thu Bon River, and the first villagers began growing fruits to make a living. Fruit zone In 1920, local herbalist Huynh Chau brought seeds of fruit species from affluent farms in the south of Vietnam. Nguyen Thanh Tuyen, Director of the Dai Binh Cooperative, said around 100 tropical fruit species such as jackfruit, citrus, grapefruit and langsat were … [Read more...] about Fruit farms offer rural life experience for tourists
Bangkok (VNA) – Thailand’s Government has approved incentives to spur private investment of 110 billion THB (about 3.56 billion USD) and add 0.25 percent to economic growth in 2020. The measures include a corporate income tax deduction of 2.5 times expenditure on machinery, a one-year tax exemption for importing new machinery, and special-rate loans offered by the Export-Import Bank of Thailand for exporters to alter their machinery for export. The tax measures apply to new machinery purchased from Jan 1 to Dec 31, 2020. The 2.5-time tax deduction is not applicable to leased machinery. The measures are estimated to cost the government 8.6 billion THB in forgone tax revenue, said Narumon Pinyosinwat, a government spokeswoman. According to Narumon, the cabinet has approved a 350-million-THB budget to compensate Exim Thailand for the special interest rates. The Thai Finance Ministry said the fresh measures are essential to stimulate private investment and the local … [Read more...] about Thai government approves measures to stimulate private investment
HCM City (VNA) – The leather – footwear industry of Vietnam now has big opportunities thanks to free trade agreements (FTAs), but to make full use of those deals, it needs to remove bottlenecks relevant to the supporting industry, heard a forum on December 13. The Supporting Industry Forum 2019 was held in Ho Chi Minh City by the Industry Agency of the Ministry of Industry and Trade and the Nhan dan newspaper. It focused on the leather – footwear industry amidst opportunities created by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union – Vietnam FTA (EVFTA). Deputy Minister of Industry and Trade Do Thang Hai said leather-footwear is one of the key exporting industries of Vietnam. With an annual export growth rate of over 10 percent, the industry earned the country approximated 20 billion USD in 2018 and over 10 billion USD in the first half of 2019. The Vietnam Leather, Footwear and Handbag Association … [Read more...] about Footwear sector needs to remove bottlenecks to capitalise on FTAs