further sct tweaks seem imperative

​Further SCT tweaks seem imperative

Amendments and supplements to the Law on Special Consumption Tax took effect from January 1, 2016. Nguyen Thi Cuc, chairwoman of Vietnam Tax Consultants’ Association, however, stresses the importance of further tax revision to facilitate actual development requirements and protect taxpayers’ rights.
bond issuances put pressure on bank interest rates

Bond issuances put pressure on bank interest rates

Bank mobilisation and lending rates are predicted to rise. Nguyen Ngoc Hoa, a member of National Assembly’s Economic Committee and also deputy director of Ho Chi Minh City Department of Industry and Trade, sheds light on its impact on business performance as well as the inflation situation.
boosting soe equitisation efficiency

Boosting SOE equitisation efficiency

Vietnam’s socioeconomic development plan for 2016-2020 was approved by the National Assembly on April 12. 
putting lending restrictions on oda capital

Putting lending restrictions on ODA capital

Accelerating capital disbursement is vital to scoring higher economic growth. Increased investment, however, could drive up budget overspending and public debt as well as ring the bell for a possible return of inflation in the wake of less effective investment. Tran Hoang Ngan, a member of the National Assembly’s Economic Committee, highlights the need to apply a lending interest rate payment on official development assistance capital to bolster usage efficiency.
science and technology development crucial to avoid lagging behind

Science and technology development crucial to avoid lagging behind

The Political Report of the 12th Party Congress has set targets to increase the total factor productivity contribution to 25-30 per cent of the economy’s growth and increase labour productivity by 4-5 per cent per year in the upcoming period. Le Bo Linh, Deputy Chairman of the Committee for Science, Technology and Environment under the National Assembly, highlights the importance of spurring science and technology development by making concrete goals to fill the gap in development between Vietnam and regional peers.
improving the states role the focus of reforms

Improving the state’s role - the focus of reforms

Nguyen Dinh Cung, head of the Central Institute for Economic Management, sheds light on the key messages from the 12th National Party Congress documents which will usher in more radical institutional reforms this year to underpin sustainable development for the country.
effort to educate firms ratchets up a notch ahead of tpp launch

Effort to educate firms ratchets up a notch ahead of TPP launch

After years of negotiations between member countries, the contents of the Trans-Pacific Partnership have finally been made public knowledge. Vu Nhu Thang, head of the International Co-operation Department, offered VIR’s Manh Bon his take on when the partnership will come into effect, and what its impact will be.
identifying obstacles to equitisation

Identifying obstacles to equitisation

Dang Quyet Tien, deputy head of the Ministry of Finance’s Corporate Finance Department, talks about the progress and major challenges facing the government’s equitisation plan.
scic seeking to boost state capital divestiture efficiency

SCIC seeking to boost state capital divestiture efficiency

Further measures are proposed to assist the State Capital Investment Corporation (SCIC) to reach its target of finalising the state capital divestment plan on time, as assigned by the government.
expert sharing view on power hike effect on the gdp

Expert sharing view on power hike effect on the GDP

Power prices have increased by 7.5 per cent since March 16. Nguyen Bich Lam, chief of the General Statistics Office under the Ministry of Planning and Investment shares with VIR’s Manh Bon his take on the possible impacts higher power prices can have on the economy.
vietnamese labourers remain competitive in asean

Vietnamese labourers remain competitive in ASEAN

The ASEAN Economic Community is expected to shape up late this year, allowing regional labourers to find jobs wherever they want within the region. Deputy Chairman of the National Assembly’s Social Affairs Committee Bui Sy Loi explains why this would not be a concern for local labourers.
expert suggests revising petroleum taxes

Expert suggests revising petroleum taxes

Head of the World Economic Department under the Ministry of Planning and Investment’s National Centre for Socio-Economic Information and Forecast Luong Van Khoi explains why now is the right time to adjust import duty on petroleum products to bolster economic stability.
efforts for simpler tax payment from 2015

Efforts for simpler tax payment from 2015

Nguyen Thi Hanh, head of the General Department of Taxation’s Personal Income Tax Management Division, shares with VIR’s Manh Bon some new points in tax payment implemented from January 1, 2015.
expert explains outcome of advertising cap lift

Expert explains outcome of advertising cap lift

On January 1, 2015 the cap on advertising and promotion costs will be lifted. Deputy Minister of Finance Do Hoang Anh Tuan shines further light on this long-awaited decision.
2015 minimum wage plan requires sacrifice for long term benefit

2015 minimum wage plan requires sacrifice for long-term benefit

Starting January 1 next year, the minimum monthly wage will rise by between VND250,000 ($11.7) and VND400,000 ($18.8) while net income may not increase much, or could even fall. Firms and workers have to accept this in order to ensure social security over the long-term, Bui Sy Loi, deputy chairman of the National Assembly Committee for Social Issues told VIR’s Manh Bon.