Phu Quoc Airport allowed to apply VAT refund policy
14:27 | 23/03/2015 Finance - Banking
(VEN) - On behalf of the government, Deputy Prime Minister Vu Van Ninh agreed to add the Phu Quoc International Airport to the list of airports allowed to apply the policy of refunding the value added tax (VAT) imposed on goods which foreigners and overseas Vietnamese buy in Vietnam and carry with them when leaving the country.
Increasing preferential loan disbursement
16:38 | 18/03/2015 Finance - Banking
(VEN) - Creating links between banks and enterprises is one of the major programs being initiated by the banking system in 2015, particularly in Ho Chi Minh City. The plan is aimed at resolving difficulties for business seeking loans, as well as streamlining activities between banks and businesses, and ensuring sufficient capital for production and trade. Generally, this program is meant to enhance firms’ competitiveness, reduce production costs, and promote production and trade.
Lao Cai, a highlight in tax reform
15:30 | 17/03/2015 Finance - Banking
(VEN) - The Lao Cai Province Department of Taxation has recently publicized new regulations regarding its tax administrative procedures. Once these tax policies come into effect, they are expected to boost production and business activities, encouraging greater exports and investment.
Boosting state budget collection
17:01 | 16/03/2015 Finance - Banking
(VEN) - To effectively use the nation’s financial resources, restructure the state budget and ensure major socioeconomic policies, the Ministry of Finance’s State Budget Department has announced specific budget estimates which exceed the 2015 goals set by the National Assembly.
Markets fall on foreign sell-offs
14:03 | 12/03/2015 Finance - Banking
Foreign investors on March 11 remained the markets' top sellers for the fourth session in a row as they increased their net selling value by 166.17 percent over the previous day’s session to 83.8 billion VND (4 million USD), hurting both southern and northern bourses' performance.
Banks cut rates on the back of low CPI
09:50 | 10/03/2015 Finance - Banking
Deposit interest rates are set to fall across the board for the local banking sector, including a prediction that there should be a cut in a open-market operations interest rates to at least 4.5 % a year by the end of 2015.
WB helps Vietnam reduce poverty
15:53 | 09/03/2015 Finance - Banking
(VEN) - The World Bank (WB) recently approved US$100 million in additional financing for an ongoing project to help Vietnam improve the living standards of residents in the poorest areas of the country.