Tax support measures amount to 191 trillion VND in 2024
Measures to alleviate difficulties for enterprises and citizens in 2024 proposed by the Ministry of Finance including tax and fee reduction and exemption represented an estimated value of 191 trillion VND (7.49 billion USD), the ministry reported on December 31.
A state budget collection point at a Vietcombank office. (Illustrative photo: VNA)
Hanoi (VNA) 🌠– Measures to alleviate difficulties for enterprises and citizens in 2024 proposed by the Ministry of Finance including tax and fee reduction and exemption represented an estimated value of 191 trillion VND (7.49 billion USD), the ministry reported on December 31.
The national economy has seen strong recovery and balances are in check, as reported at the ministry’s December 31 conference to review the 2024 financial and state budget performance and deploy tasks for 2025.
In 2024, the economic growth rate reached approximately 7%, exceeding the National Assembly's target of 6-6.5%, positioning Vietnam among the few countries achieving high growth rates in the region and the world.
The total state budget revenue exceeded 2.025 quadrillion VND, up by 19.1% from the year’s projection and 15.5% from 2023. By year-end, public debt accounted for 36-37% of GDP and government debt 33-34%, well below the ceiling approved by the legislative body.
The ministry implemented an action programme to advance the safe and sustainable development of the securities market development to 2030.
Between January and December, the stock market fluctuated, but showed an overall recovery trend compared to the previous year. On December 27, the VN-Index stood at 1,275.14 points, a 12.9% increase from the end of 2023. Stock market capitalisation approached 7.2 quadrillion VND, and the average transaction value hit 21.1 trillion VND per session, up 21.2% and 19.9% year-on-year.
Notably, the bond market experienced a strong rebound, with 96 enterprises issuing private bonds totaling 396.7 trillion VND, an annual rise of 33.6%./.
As 2024 draws to a close, Vietnam’s economy is nearing the finish line of its annual targets, and continued efforts are needed to secure the best possible outcomes.
Prime Minister Pham Minh Chinh has issued a dispatch asking for concerted efforts to promote economic development in 2025 with an aim for a gross domestic product (GDP) growth rate of at least 8% in the year.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
