Vietnam’s State budget collection in the first ten months of this year stood at 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of the estimate, and down 9.2% year-on-year, the Ministry of Finance reported.
Hanoi (VNA) – Vietnam’s State budget collection in the first ten months of this year stoodat 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of theestimate, and down 9.2% year-on-year, the Ministry of Finance reported.
Domestic revenue dropped 5.9% from the same period last year to 1.16 quadrillion VND. Notably,the collection from crude oil reached some 51.4 trillion VND, exceeding theestimate by 22.4% and down 19.8% year-on-year.
♐ According to theministry, 24 localities across the country posted domestic revenue over 86% oftheir estimate, seven localities had higher revenue compared to the same periodlast year, and up to 56 localities saw a reduction in budget collection.
Minister of Finance HoDuc Phoc said that the financial sector will strive to complete the financialand budget tasks in the two remaining months of this year.
🍌 Besides solutions toincrease budget revenue, the ministry will continue to support businesses toboost production and business, which will contribute to promoting economicgrowth, thereby generating sustainable revenues for the State coffer./.
The tax sector collected more than 1,048 trillion VND (nearly 43 billion USD) for the State budget in the first nine months of 2023, equivalent to 76.3% of the estimate for the whole year and 94.9% compared to the figure in the same period last year, the General Department of Taxation reported on October 4.
The General Department of Customs on October 4 reported that its state budget collection stood at 268.69 trillion VND (10.99 billion USD) between January and September, decreasing by 18.6% compared to the same period last year.
Amidst global headwinds, Vietnam has worked to step up disbursement of public capital to bolster the economy as Prime Minister Pham Minh Chinh has reiterated the significance of public investment disbursement as a motive to fuel economic growth in short term as well as put in place uniform and modern infrastructure to lure more investment for sustainable development.
The 15th National Assembly is scheduled to approve a salary reform policy in its ongoing sixth plenary session which will hold historical significance and bring about joy for officials and public servants, according to Minister of Home Affairs Pham Thi Thanh Tra.
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 photo (Photo: VNA) 
