The Hanoitimes - Southeast Asian governments invest more as a share of total government expenditures than member countries of the OECD. Much of that spending goes for infrastructure. The delivery of services – such as clean water, reliable public transport, schools and hospitals – through economic and social infrastructure is among the most important functions of government. Resources must be well spent to ensure quality. People everywhere want good infrastructure, such as smooth and safe roads and timely and reliable trains that move passengers and freight across a wide range of destinations. They want clean water, reliable sanitation, easy-access broadband internet connectivity and electricity available 24/7. Well-managed and functional airports and seaports enable connection with the rest of the world, while schools and hospitals ensure well-being, including a healthy and well-equipped workforce. The delivery of services through economic and social infrastructure is among … [Read more...] about It’s not just about the financing. Infrastructure needs to be well built
Government backed enterprise finance guarantee
The Hanoitimes - Hanoi is falling short of financial resources to build two back dikes in the Red river section through urban districts and relocated nearly one million inhabitants along the river. Three Vietnamese corporations are willing to cover the whole cost of the zoning plan of the riparian areas on both sides of the Red river crossing Hanoi, Zing.vn quoted Chairman of the municipal People's Committee Nguyen Duc Chung as saying at a meeting with voters in Hoan Kiem district on July 17. "The three conglomerates include Geleximco, Sun Group and Vingroup. They have shown interest in financing the zoning plan on both sides of the Red river. Some have already invited foreign experts to work on the plan," Chung said. Chairman of the municipal People's Committee Nguyen Duc Chung. Photo: Zing The zoning plan has been an issue of concern for Hanoi since the 2000s, Chung said, adding that the municipal government had invited South Korean designers and … [Read more...] about Three Vietnam companies keen on financing zoning plan for Red river: Hanoi mayor
The Hanoitimes - The COVID-19 pandemic has created opportunities for a fairer, more robust and more efficient tax revenue and spending system. Governments worldwide have responded to the COVID-19 crisis by ramping up public spending and rolling out emergency fiscal response measures in an effort to bolster healthcare systems, strengthen social protection, and boost the economy. By November 2020, more than $25 trillion in financial support was announced by Asian countries to combat the pandemic. At the same time, tax collections are declining everywhere. Even prior to the pandemic, tax revenues in many Asian developing countries were below the level needed to achieve the Sustainable Development Goals (SDGs). The COVID-19 pandemic has driven these revenues further down, and brought socio-economic hardship on a scale not seen before. This is expected to push tens of millions of people in the region into extreme poverty, sharpen pre-existing inequalities and roll back decades of … [Read more...] about How governments can use tax policy to speed economic recovery?
The Hanoitimes - So far, solar power in Vietnam accounts for 44% of total solar capacity in Southeast Asia. Environmentalists hope that success in developing solar power will persuade the government of Vietnam to scale back its ambitions for coal-fired plants, according to The Economist. By the end of 2019, the country counted with 5.5 gigawatts (GW) – more than Australia, with an economy almost six times the size – just two years after the government paid suppliers a generous US$0.09 per kWh produced by big solar farms. Photo: EVN Meanwhile, the Vietnamese economy has been growing by 5-7% a year for the past two decades. The government has plans to double power generation by 2030, but estimates that supply may run short as soon as next year. As a result, it needs to find new sources of power as soon as possible. Coal is the cornerstone of Vietnam’s energy supply. Under current plans, the fleet of coal-fired power plants will soon triple. But … [Read more...] about Solar success will persuade Vietnam to scale back coal-fired plants
Vietnam needs over US$128 billion for power investment next 10 years A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies. According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid. The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years. The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of … [Read more...] about VIETNAM BUSINESS NEWS FEB. 26