Financial plan for Metro Line No. 1 company gets nod
HCMC – The Ministry of Finance has written to the Prime Minister presenting its plan to increase the charter capital of the HCMC Urban Railway No. 1 One-member Limited Liability Company (HURC1) after receiving a petition made by the HCMC People’s Committee. The ministry has approved the plan to
Public feedback sought for draft revisions of Land Law
HCMC – Lawmakers have decided to introduce draft revisions of the Land Law to the public to get feedback. At its 18th session on December 13, the National Assembly Standing Committee reached a consensus to gather public feedback on the draft of the revised Land Law and issues relating to the
Hanoi’s 2022 budget revenue to surpass estimate
HCMC – The total budget revenue of Hanoi City this year is expected to hit VND300,000 billion, or 107.9% of the year’s target, according to the city’s tax department. The budget revenue of the city this year saw a slight rise of 2.4% over 2021. According to Mai Son, director of the Hanoi Tax
Binh Thuan Province vice chair arrested over alleged land violations
HCMC – Irregularities in the allocation of three land lots have led to a vice chairman of Binh Thuan Province and six others being detained. Ministry of Public Security (MPS) investigators yesterday, December 13, prosecutors from the Supreme People’s Procuracy and local law enforcement jointly
Business tax debts up 3% in Jan-Nov
HCMC – Total tax debt owed by businesses had amounted to an estimated VND126.64 trillion in the year to November 30, up 3% year-on-year, according to the General Department of Taxation. This debt was 10.1% higher than late last year. The department attributed the strong rise to the Covid-19
Some business models eligible for e-invoices generated from cash registers
HCMC – The General Department of Taxation is building a roadmap to deploy e-invoices with tax codes generated from cash registers as a subsequent step in the digital transformation of the tax sector. According to the General Department of Taxation, eight business models will be entitled to apply
Contractors for North-South Expy’s second phase to be chosen before December 25
HCMC – The North-South Expressway project’s second phase has entered the final stage of the contractor selection process, so the contractors for the first 12 bidding packages will be chosen before December 25, according to the Ministry of Transport. The bid openings for those 12 packages with a
Finance Ministry proposes delaying Decree 65 until 2024
HCMC – The Ministry of Finance has released a draft decree amending Decree 65 on bond trading, proposing a one-year delay of putting the said decree into force. In its proposal, the ministry suggested that Decree 65 should take effect from January 1, 2024, as the bond market is in a liquidity
Commercial banks told to send weekly reports on interest rates
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, has written to commercial banks ordering them to report on interest rate movements on a weekly basis. The SBV said banks would have to send reports on deposit and lending rates to the Monetary Policy Department prior to 11 a.m.
PM calls for measures to stabilize volatile bond market
HCMC – Prime Minister Pham Minh Chinh has signed an official dispatch ordering the Ministry of Finance to take prompt action to stabilize the volatile corporate bond market. The market for corporate bonds, especially those issued via private placement, is in a crisis and there seems to be no way
VNA resumes air service to Hong Kong
HCMC – Vietnam Airlines (VNA) has reopened regular flights between the capital city of Hanoi and Hong Kong to meet the high travel demand. The national flag carrier will operate two weekly flights on the Hanoi-Hong Kong route on Wednesdays and Sundays. The frequency will be increased to three
HCMC’s foreign trade exceeds US$100 billion in Jan-Nov
HCMC – HCMC’s foreign trade in the year to November had totaled US$101.6 billion, according to the General Department of Vietnam Customs. The gross regional domestic product of HCMC is expected to grow 9.03% over 2021, way above the target ranging between 6% to 6.5%. The city’s trade performance
