Viet Nam News HCM CITY — The Việt Nam National University HCM City (VNU-HCM) has petitioned the National Assembly’s Finance and Budget Committee for more funds to expand and seek to achieve international standards. VNU-HCM, a centre for high-quality training, research and technology in various sectors, plays a vital role in the country’s tertiary system, Huỳnh Thành Đạt, its director, said. However, Government funding for its development has declined over the past three years, he told a meeting with a delegation of the Finance and Budget Committee on January 8. It fell from VNĐ1.18 trillion (US$50.97 million) in 2016 to VNĐ798 billion ($34.44 million) last year, he said. He also asked the committee for more funds for acquiring land for the VNU-HCM urban area project. The acquisition phase would have been completed by 2021 but a shortfall of VNĐ2 trillion ($86.42 million) has delayed progress, he said. Building … [Read more...] about Government approves to allocate funding for Việt Nam National University HCM City
Government approvals
Government approves licensing of Bamboo Airways
Government approves licensing of Bamboo AirwaysBy Le Anh Bamboo Airways’ test flight takes place successfully – PHOTO: BAMBOOAIRWAYS HCMC – The prime minister has approved the Ministry of Transport’s proposal to issue a business license for aviation transport to Bamboo Airways, a subsidiary of property developer FLC Group, according to Document 1566 dated November 8. A news release from Bamboo Airways stated that the decision was made after the Government’s regular meeting on November 8, chaired by Prime Minister Nguyen Xuan Phuc, on issuing Bamboo Airways an air transport business license. Accordingly, the licensing of the new carrier had won the approval of the relevant ministries, departments and agencies prior to the prime minister’s final say. The prime minister has assigned the Ministry of Transport to issue a license for the carrier. Earlier, the ministry had proposed the prime minister allow the ministry to grant a business license … [Read more...] about Government approves licensing of Bamboo Airways
Government approves double taxation avoidance pact with Macau
Illustrative image (Source: Investopedia) Hanoi (VNA) – The Government has approved an agreement between Vietnam and China’s Macau Special Administrative Region on the avoidance of double taxation and prevention of income tax evasion. The Government assigned the Ministry of Finance to chair and coordinate the two sides’ relevant agencies to implement the pact. The Ministry of Foreign Affairs is thereby responsible for completing external procedures, as well as making announcements of and keeping a legal copyright of the agreement as stipulated. –VNA … [Read more...] about Government approves double taxation avoidance pact with Macau
Vietnamese Government approves establishment of Bamboo Airways
FLC Group’s Chairman Trịnh Văn Quyết (left) and Airbus Executive Vice President and Chief of Sales and Marketing Eric Schulz (right) signed an agreement to purchase 24 A321NEO aircraft for Bamboo Airways, under the witness of General Secretary of the Communist Party of Việt Nam Nguyễn Phú Trọng and the President of France’s National Assembly François de Rugy in March 2018. — VNS PhotoViet Nam News HÀ NỘI — Deputy Prime Minister Trịnh Đình Dũng on Monday signed a decision to approve the establishment of Bamboo Airways, after receiving the proposal of the Ministry of Planning and Investment (MPI) and the consensus of relevant ministries. According to the MPI, Bamboo Airways has completed all necessary legal procedures for establishment. In addition, other Government agencies, namely the Ministry of Transport, Ministry of Finance, Ministry of Defence, Ministry of Public Security, … [Read more...] about Vietnamese Government approves establishment of Bamboo Airways
Vietnamese government approves fuel tax hike proposal in fight against pollution
Vietnam is looking to increase environmental taxes to the highest level permitted for fuels, according to a recent proposal by the Ministry of Finance already approved by the Prime Minister. Under the proposal, which is currently under review by the Standing Committee of the legislative National Assembly, petroleum tax will increase by 33 percent to VND4,000 per liter (17 cent) and diesel tax by 33 percent to VND2,000 per liter. Taxes are also being hiked for mazut and motor oil. If passed, the tax hike would go into effect starting from July 1. The proposed hike is expected to add VND14 billion ($610,000) to Vietnam’s national budget and the consumer price index from June to July would increase by 0.27-0.29 percent, according to government calculations. The governments hopes higher environmental taxes will encourage efficient energy usage and a switch to more environmentally friendly products, thus reducing emissions and air pollution. As Southeast Asia’s fastest-growing … [Read more...] about Vietnamese government approves fuel tax hike proposal in fight against pollution
RoK government approves constitutional revision proposal
President Moon Jae-in (Source: EPA) Seoul (VNA) – The Republic of Korea (RoK) government passed a constitutional revision proposal at a cabinet meeting on March 26 under the chair of Prime Minister Lee Nak-yon before sending the bill to the National Assembly for approval. President Moon Jae-in signed the proposal electronically from the United Arab Emirates, where he has been on a four-day visit since March 24. This is the first time since 1980 that a President of the RoK has proposed changes to the Constitution. If approved, the bill will be opened for a public referendum to be held at the same time with the country’s local election on June 13. The proposal centers on changing the current single five-year presidential term to a maximum of two successive four-year terms, while curtailing presidential powers and strengthening the rights of the prime minister and the National Assembly. The current five-year single term was introduced, along with a direct … [Read more...] about RoK government approves constitutional revision proposal
The Government’s regular meeting in January 2018
THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness No. 13/NQ-CP Ha Noi, February 08, 2018 RESOLUTION THE GOVERNMENT’S REGULAR MEETING – JANUARY 2018 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated June 19, 2015; Pursuant to the Government’s Decree No. 138/2016/ND-CP dated October 01, 2016 promulgating the working regulation of the Government; Based on the discussion of the Cabinet members and the conclusion of the Prime Minister at the Government’s January meeting, held on February 02, 2018 DECIDES 1. Regarding the draft Law amending and supplementing a number of articles of the Law on Education The Ministry of Education and Training shall assume the prime responsibility for, and coordinate with the Ministry of Justice, the Government Office and concerned ministries and agencies in collecting comments of the Government members and feedbacks of the Government Office to revise … [Read more...] about The Government’s regular meeting in January 2018
The Government’s regular meeting in December 2017
THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness No. 138/NQ-CP Ha Noi, December 31, 2017 RESOLUTION adopted following MEETING BETWEEN THE GOVERNMENT AND PROVINCES AND THE GOVERNMENT’S REGULAR MEETING – DECEMBER 2017 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated June 19, 2015; Pursuant to the Government’s Decree No. 138/2016/ND-CP dated October 01, 2016 promulgating the working regulation of the Government; Based on the discussion of the delegates attending the meeting, the Cabinet members and the conclusion of the Prime Minister at the Government’s meeting with provinces and the Government’s regular meeting, held on December 28 and 29, 2017 RESOLVES 1. Regarding the socio-economic situation in 2017, the implementation of the Government’s Resolution No. 01/NQ-CP dated January 1, 2017 on major tasks and solutions guiding implementation of the socio-economic development and … [Read more...] about The Government’s regular meeting in December 2017
ACV has yet to fix errors uncovered by Government Inspectorate
Over the three months since Government Inspectorate announced Conclusion No.2569/KL-TTCP related to asset and capital usage and management, equitisation, and divestment of ACV, the errors has not been fixed thoroughly.According to Report No.680/BGTVT-TTr of the Ministry of Transport (MoT), before the issue of Conclusion No.2569, ACV had retrieved an amount of VND704 billion ($31 million) to the state budget, added VND132.4 billion ($5.83 million) to ACV’s Investment and Development Fund.This company also recorded an increase of VND297 billion ($13.1 million) at E6 runway project and Danang International Airport. SASCO also returned VND12.9 billion ($0.57 million) to a fund of ACV, collected $902,000 to this company’s revenue, and returned VND4.5 billion ($0.2 million) of corporate income tax to the state budget.Besides, ACV has reduced projects’ value by VND3.56 billion ($0.16 million).MoT has collaborated with the Ministry of Finance and the Ministry of Defense to … [Read more...] about ACV has yet to fix errors uncovered by Government Inspectorate
Government approves restructuring of Vinachem
Deputy Prime Minister Vuong Dinh Hue has signed Decision No.16 approving the restructuring plan of the Vietnam National Chemical Group (Vinachem). The Ha Bac Nitrogenous Fertiliser & Chemicals Company Limited under Vinachem’s management in Bac Giang Province. - Photo nongnghiep.vn The decision, designated for 2018-2020, aims to improve Vinachem’s structure, capacity, production efficiency and business competitiveness.While signing the decision, the deputy prime minister stated the need for streamlined and compact business models after the equitisation process at Vinachem and its member companies.The key focus of Vinachem is State divestment from the mother company and a number of its subsidiaries.The mother company plans to become equitised in 2018-19, leaving only 50-65 per cent of its charter capital of some VND20 trillion (US$890 million) under State control.As for Vinachem’s member companies, it plans to retain more than 65 per cent of charter capital at … [Read more...] about Government approves restructuring of Vinachem