State budget collections in HCM City in the first four months were estimated at over 117 trillion VND (5 billion USD), 28.9 percent of the estimate and down 12.4 percent year-on-year, the city’s Statistics Office reported.
HCM City (VNA)൩ -State budget collections in HCM City in the first four months were estimated atover 117 trillion VND (5 billion USD), 28.9 percent of the estimate and down12.4 percent year-on-year, the city’s Statistics Office reported.
It attributed the declineto the COVID-19 outbreak. Domestic budgetcollections fell 11 percent year-on-year to 78.9 trillion VND. Revenue fromcrude oil topped 5.5 trillion VND, down 26.2 percent, while that from exportsand imports fell 13 percent annually to 32.7 trillion VND Revenue from State-owned enterprisesaccounted for 9.7 percent of domestic collections, down 13.6 percent year-on-year.Revenue from private enterprises fell 21.1 percent to 20.7 trillion VND whilethat from foreign-invested enterprises was over 21.5 trillion VND down 5.6percent. Revenue for local budget wasover 19.7 trillion VND, down 13.2 percent against the same period last year. The city’s total expenditure during thefour months stood at more than 18 trillion VND, up 11.3 percent year-on-year. Nearly5 trillion VND was for development, up 14.2 percent annually. The city is adopting a number ofmeasures to support residents and businesses hit by COVID-19. It has assignedthe Taxation Department to establish a set of criteria for those eligible fortax breaks and exemptions and will offer land lease payment extensions inaccordance with Government Decree No. 41/2020/ND-CP dated April 8, 2020. It has also worked with authorities in24 districts to review a list of business households that suspendedoperations and had annual revenues of less than 100 million VND which will beoffered support./.
The Ho Chi Minh City Power Corporation (EVN HCMC) on April 28 said it has resumed a number of electricity projects after the southern city ceased social distancing measures.
The HCM City administration has ordered the city Steering Committee for Disaster Prevention and Rescue and local authorities to assess 300 sites that face a high risk of landslides and floods in case of heavy rains and storms.
Vietnam attracted 12.33 billion USD in foreign direct investment (FDI) in the first four months of 2020, a year-on-year decrease of 15.5 percent due to the impact of the COVID-19 pandemic, according the Ministry of Planning and Investment’s Foreign Investment Agency.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA) 
