Gov’t still wants to mobilise idle gold, dollar

NDO - Minister and Chairman of the Government Office Mai Tien Dung stated that enterprises have to spend 28.6 million working days and a total VND14.3 trillion (US$629.2 million) to complete procedures related to specialised inspections of 100,000 types of goods. Minister Dung made the remarks on August 21, while leading the Prime Minister Working Group to work with 11 ministries and sectors related to the specialised inspections of import and export goods. According to the Chairman of the Government Office approximately 30-35% of import-export goods are subject to specialised inspections, which should be reduced to 15%. He also conveyed the Prime Minister's requirement to cut official and unofficial costs related to enterprises. Dung also pointed out the overlapping procedures while carrying out the specialised inspections of goods, which are therefore increasing costs for enterprises He also noted that there remains a monopoly in the assessment of imports and exports, resulting in higher transportation costs and other unnecessary costs for enterprises. Dung emphasised that the PM asked all of the related ministries to promote administrative reforms in order to facilitate import-export enterprises, as the specialised inspections of goods now accounts for 50% of the customs clearance time. He also told the ministries to rapidly review the 5,917 current procedures of specialised inspections at border gates, to ease the burden on enterprises. ... [read more]

VietNamNet Bridge – Vietnamese Prime Minister Nguyen Xuan Phuc and a high-ranking delegation paid an official visit to Thailand from August 17-19 at the invitation of Prime Minister of the Kingdom of Thailand Prayut Chan-o-cha. During the visit, the two sides issued a joint statement. Following is the full text of the joint statement: 1. His Excellency Mr. Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Vietnam, and his wife paid an official visit to Thailand from August 17-19, 2017 at the invitation of His Excellency General (Ret.) Prayut Chan-ocha, Prime Minister of the Kingdom of Thailand. 2. Prime Minister Phuc’s delegation included His Excellency Mai Tien Dung, Minister – Chairman of the Government Office; His Excellency Mr. Tran Tuan Anh, Minister of Industry and Trade; His Excellency Mr. Chu Ngoc Anh, Minister of Science and Technology; His Excellency Mr. Nguyen Xuan Cuong, Minister of Agriculture and Rural Development; His Excellency Mr. Truong Minh Tuan, Minister of Information and Communications, His Excellency Mr. Le Minh Hung, Governor of the State Bank of Vietnam, as well as other distinguished representatives from various ministries and agencies. 3. During the visit, Prime Minister Phuc was accorded a ceremonial welcome and had a bilateral meeting with Prime Minister Prayut, who hosted dinner in Prime Minister Phuc’s honour. Prime Minister Phuc paid courtesy calls on President of Legislative Committee; President of Privy Council General Prem Tinsulanonda and met with Chairman of Thailand – Vietnam Friendship Association, Mr. Prachuab Chaiyasan; CEO of leading Thai…... [read more]

Vietnam has 3 high-tech agricultural zones in Hau Giang, Phu Yen, and Bac Lieu. The Ministry of Agriculture and Rural Development has licensed 26 high-tech agricultural enterprises. The government issued Decree 30 in March to allocate a credit package of US$4.4 million to loan high-tech enterprises. The State Bank of Vietnam launched a loan program for high-tech enterprises with interest rates of 0.5% to 1.5%. Nguyen Thi Hong, Vice Governor of the State Bank, said the number of high-tech enterprises is small and the incentive loan program has not been widely implemented.  “Enterprises are still studying the program and have not yet submitted loan applications. They need to study the criteria of high-tech and clean agriculture according to the government decree. Commercial banks say they are preparing documents to instruct local branches to launch the program.”, noted Ms Hong.  Enterprises say one problem is that their property and assets are not acceptable collateral for bank loans. Minister of Natural Resources and the Environment Tran Hong Ha said “High-tech enterprises have to invest large sums in their facilities. The Ministry has drafted a circular to acknowledge their asset values and will consult other ministries to finalize it.” Minister and Head of the Government Office Mai Tien Dung said some localities have proposed incentives for local businesses.  “The government has received proposals from the provincial Party Committees of Ha Nam and Thai Binh to allow them to rent land from farmers and lend…... [read more]

Hanoi, August 17 (VNA) - Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently.  This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister – Chairman of the Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Vietnam (ACV), in Hanoi on August 16.  The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM.  In the message, PM Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue.  “Whatever the circumstances, we will not let danger occur,” said Dung, who also mentioned problems related to air traffic management recently at Cat Bi Airport in the northern city of Hai Phong.  The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight, or even one minute per flight.  Dung also questioned the plan to double the annual capacity of Tan Son Nhat International Airport from its current capacity of…... [read more]

Minister-head of Government Office Mai Tien D​ung reports the Prime Minister’s requirements to Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Viet Nam. (Photo:gov.com.vn ) Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently. This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister – Chairman of the Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Vietnam (ACV), in Hanoi on August 16. The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM. In the message, PM Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue. “Whatever the circumstances, we will not let danger occur,” said Dung, who also mentioned problems related to air traffic management recently at Cat Bi Airport in the northern city of Hai Phong. The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight, or…... [read more]

NDO/VNA – Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently. This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister cum Head of the Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Vietnam (ACV), in Hanoi on August 16. The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM. In the message, PM Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue. The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight, or even one minute per flight. Dung also questioned the plan to double the annual capacity of Tan Son Nhat International Airport from its current capacity of 25 million passengers when the airport has not been expanded and Long Thanh Airport, designed to be the country’s largest airport in the southern province of Dong Nai and about 40km far from HCM City, is yet to be constructed. …... [read more]

Hanoi, August 16 (VNA) - The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 percent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their costs.  Speaking at a press conference in Hanoi on August 15, Pham Dinh Thi, head of the finance ministry’s Tax Policy Department, said pickups mainly have engine displacement of between 2,000 and 3,000cc, so if the tax on the car with nine seats and less is currently 55 percent of the car value, the tax on the pickups should be 33 percent.  The proposal was made after the Prime Minister required the ministry to study and check the tax on pickups in the region. The ministry found that regional countries usually levy special consumption tax on pickups lower than that of autos with nine seats or less.  According to the Law on Special Consumption Tax regulations, a special consumption tax of 15 percent is levied on pickup trucks with engine displacement of 2,500cc or less, 20 percent for those with over 2,500cc-3,000cc and 25 percent for those with over 3,000cc.  In recent years, the number of pickups has sharply increased in Vietnam, the majority imported. In 2012, 3,291 units were sold, of which 3,252 were imported and 39 units were locally-assembled. In 2016, sales soared to 28,233 units, of which 27,265 units were imported and 968…... [read more]

The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 per cent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their cost. Speaking at a press conference in Ha Noi on Tuesday, Pham Dinh Thi, head of the finance ministry’s Tax Policy Department, said pickups mainly have engine displacement of between 2,000 and 3,000cc, so if the tax on the car with nine seats and less is currently 55 per cent of the car value, the tax on the pickups should be 33 per cent. The proposal was made after the Prime Minister required the ministry to study and check the tax on pickups in the region. The ministry found that regional countries usually levy special consumption tax on pickups lower than that of autos with nine seats or less. According to the Law on Special Consumption Tax regulations, a special consumption tax of 15 per cent is levied on pickup trucks with engine displacement of 2,500cc or less, 20 per cent for those with over 2,500cc-3,000cc and 25 per cent for those with over 3,000cc. In recent years, the number of pickups has sharply increased in Viet Nam, the majority imported. In 2012, 3,291 units were sold, of which 3,252 were imported and 39 units were locally-assembled. In 2016, sales soared to 28,233 units, of which 27,265 units were imported and 968 units were locally-assembled. Thi…... [read more]

An automobile assembly line at Xuan Kien Automobile Joint Stock Company in Ha Noi. The Ministry of Finance has proposed applying a special consumption tax on pickup trucks. — VNA/VNS Photo Huy Hung The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 per cent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their cost. Speaking at a press conference in Ha Noi on Tuesday, Pham Dinh Thi, head of the finance ministry’s Tax Policy Department, said pickups mainly have engine displacement of between 2,000 and 3,000cc, so if the tax on the car with nine seats and less is currently 55 per cent of the car value, the tax on the pickups should be 33 per cent. The proposal was made after the Prime Minister required the ministry to study and check the tax on pickups in the region. The ministry found that regional countries usually levy special consumption tax on pickups lower than that of autos with nine seats or less. According to the Law on Special Consumption Tax regulations, a special consumption tax of 15 per cent is levied on pickup trucks with engine displacement of 2,500cc or less, 20 per cent for those with over 2,500cc-3,000cc and 25 per cent for those with over 3,000cc. In recent years, the number of pickups has…... [read more]

Speaking at a press conference in Hanoi on August 15, Pham Dinh Thi, head of the finance ministry’s Tax Policy Department, said pickups mainly have engine displacement of between 2,000 and 3,000cc, so if the tax on the car with nine seats and less is currently 55 per cent of the car value, the tax on the pickups should be 33 per cent. The proposal was made after the Prime Minister required the ministry to study and check the tax on pickups in the region. The ministry found that regional countries usually levy special consumption tax on pickups lower than that of autos with nine seats or less. According to the Law on Special Consumption Tax regulations, a special consumption tax of 15 per cent is levied on pickup trucks with engine displacement of 2,500cc or less, 20 per cent for those with over 2,500cc-3,000cc and 25 per cent for those with over 3,000cc. In recent years, the number of pickups has sharply increased in Việt Nam, the majority imported. In 2012, 3,291 units were sold, of which 3,252 were imported and 39 units were locally-assembled. In 2016, sales soared to 28,233 units, of which 27,265 units were imported and 968 units were locally-assembled. Thi said the five-seat pickups had for many years enjoyed special consumption tax lower than that of vehicles with the same number of seats (lower than SUV models, with engine displacement from over 2,500cc to…... [read more]




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