Finance ministry proposes extending environmental tax cut on fuel products in 2025

16:47 | 05/11/2024 Policy Follow Ven.vn on

The Ministry of Finance has proposed to continue 50 percent reduction in environmental tax on gasoline (excluding ethanol), oil, and lubricants until the end of 2025 to spur economic growth.

Finance ministry proposes extending environmental tax cut on fuel products in 2025

The proposal will be submitted to the National Assembly for consideration and approval.

The proposal is the continuation of already-in-effect tax cut policy, which imposes a tax rate of VND2,000 per liter for gasoline, VND600 for kerosene, and VND1,000 for diesel, fuel oil, lubricant, and aeroplane fuel.

The current policy shall expire on December 31, 2024, the tax rates will go back to the previous level at VND4,000 per liter for gasoline, VND1,000 for kerosene, VND2,000 for diesel, fuel oil, lubricant, and VND3,000 for aeroplane fuel.

If approved by the National Assembly, the new proposal shall take effect from January 1 to December 31, 2025. The State budget will likely see a drop in environmental tax of VND44,222 billion./.

Source: VGP

See more news

PM urges combating group interest during apparatus restructuring

10:47 | 13/12/2024 Policy

Prime Minister Pham Minh Chinh on December 12 highlighted the need to counteract group interests and personal gains during the restructuring process of the organisational apparatus, and develop appropriate policies to safeguard officials and public servants’ legitimate rights and interests.

Vietnam viewed as a priority in India's Act East policy

15:20 | 12/12/2024 Policy

The Secretary (East) at the Indian Ministry of External Affairs has highlighted Vietnam as one of the first countries with which India has engaged in a multi-dimensional manner as part of the South Asian nation’s Act East policy.

Australia shows interest in Việt Nam's vision of a 'rising era'

16:54 | 08/12/2024 Policy

Việt Nam and Australia shared a vision of a peaceful, stable, and prosperous region and the relationship between Việt Nam and Australia have been growing fruitfully in all sectors.

Plan to streamline Government's organisational apparatus finalised

09:38 | 06/12/2024 Policy

According to Minister of Home Affairs Phạm Thị Thanh Trà, the government's restructuring extends beyond ministerial consolidation, and the number of units under ministries and ministerial-level organisations will be cut by 15-20 per cent

Vietnam slashes government apparatus, with 9 minitries, agencies cut

10:25 | 04/12/2024 Policy

Hanoi – Nine ministries and agencies under the Government will be consolidated under a resolution on streamlining and optimising the political system, Minister of Home Affairs Pham Thi Thanh Tra told the Vietnam News Agency.

Specific plans announced to restructure Party apparatus

16:46 | 03/12/2024 Policy

The plan will reduce at least four Party organisations, 25 Party delegations and 16 Party groups merged into others and add two more Party Committees under central management.

Streamlining political system: Time does not wait

15:40 | 02/12/2024 Policy

Achieving strategic goals not only requires extraordinary efforts and exceptional commitment but also does not allow any delay or slackening, with a revolution to build a truly elite and streamlined political system promptly carried out, the Party leader underscored.

Gov't urges stronger efforts in thrift practice, wastefulness prevention

15:14 | 02/12/2024 Policy

HÀ NỘI – Prime Minister Phạm Minh Chính on Sunday signed an official dispatch demanding ministries, sectors, and localities to promote thrift practice and wastefulness combat.

2-per-cent VAT reduction extended to the end of June

14:48 | 02/12/2024 Policy

HÀ NỘI — The National Assembly has approved an extended reduction of value added tax (VAT) from 10 per cent to 8 per cent until the end of June.

Ministries, state agencies to undergo mergers in national apparatus overhaul

08:51 | 02/12/2024 Policy

HÀ NỘI — According to proposals announced at a national conference held on Sunday, five ministries and two government agencies will be included in mergers to streamline and optimise the political system.

Latest Most Read

Cashless payment requires biometric data updating from January 1, 2025

10:30 | 24/12/2024 Finance-Banking

From January 1, 2025, customers will not be able to perform any digital transactions on mobile if they have not completed the biometric information update.

BCC eyes leader in applying biotechnology in comprehensive healthcare

10:22 | 24/12/2024 Vietnamese Brands

(VEN) - Vietnam Biochemical Technology Joint Stock Company - BCC Group operates in the field of research and production of products based on the application of biotechnology. BCC Pharma, a member of the BBC Group, is the brand representing BCC in supplying pharmaceuticals and health foods.

Kien Giang sets goals for industrial, export breakthroughs in 2025

09:07 | 24/12/2024 Trade

(VEN) - In 2025, Kien Giang Province sets a target to achieve the industrial production value of more than VND62.821 trillion, an increase of 10% compared to 2024 and export revenue of 1.07 billion USD, a year on year increase of 7%.

Party chief receives outgoing Australian ambassador

08:43 | 24/12/2024 News and Events

Party General Secretary To Lam hosted a reception for outgoing Australian Ambassador Andrew Goledzinowski in Hanoi on December 23.

HGS affirms ground service quality in aviation sector

17:19 | 23/12/2024 Companies

(VEN) - During the 17-year establishment and development period, the Hanoi Ground Services Joint Stock Company (HGS) has affirmed its name and solid position in providing ground services for the Vietnamese aviation sector.

11 rare monkeys released back into wild in Nghe An

09:27 | 18/12/2024 Environment

Eleven rare monkeys were released into the Pu Huong Nature Reserve in the central province of Nghe An on December 17.

Investors wait for a boost in the IPO market

09:27 | 18/12/2024 Economy

A new chapter is expected to unfold in Vietnam's financial market, as companies across various sectors gear up for their initial public offerings (IPOs), signalling a notable shift in the country's investment landscape.

Directive issued to ensure merry Tet for all

09:30 | 18/12/2024 Society

The Party Central Committee’s Secretariat has issued a directive on the organisation of the Lunar New Year (Tet) to ensure safe, healthy, and economical celebrations of the New Year, creating new momentum for realising the tasks for 2025.

Construction industry expands at the highest rate since 2020: ministry

09:38 | 18/12/2024 Industry

The construction industry is estimated to expand at around 7.8- 8.2% this year, the highest rate since 2020, according to a Ministry of Construction report.

Six hospitals to be upgraded to meet international standards

09:53 | 18/12/2024 Society

Six hospitals will be prioritised for investment and upgrades to meet international standards, part of the Government's decision approving the implementation of the master plan for the healthcare network for the period of 2021-2030, with a vision to 2050.

Multimedia

Video Longform Infographic Photo

Glorious tradition of the Vietnam People's Army

08:30 | 22/12/2024 Infographic

The Vietnam People’s Army (VPA) celebrate its 80th founding anniversary on December 22, 2024, a milestone in the army’s glorious history of serving and defending the nation. After 80 years of construction and development, the VPA has truly proven its revolutionary nature as an army “born from the people, fighting for the people, and serving the people”.

Total FDI registered in Vietnam hits 31.4 billion USD in January-November

09:02 | 17/12/2024 Infographic

As of November 30, 2024, the total newly registered capital, adjusted capital, and capital contributions or share purchases by foreign investors in Vietnam reached nearly 31.4 billion USD, up 1% increase compared to the same period last year.

First 11 months of 2024: Import-export turnover increases 15.4%

10:55 | 16/12/2024 Infographic

In the first 11 months of this year, Vietnam’s total import-export turnover reached 715.55 billion USD, up 15.4% against the same period last year, of which exports rose by 14.4% and imports up 16.4%. In the reviewed period, Vietnam enjoyed a trade surplus of 24.31 billion USD.

11-month agro-forestry-fishery exports exceed yearly target

19:55 | 15/12/2024 Infographic

Vietnam’s total export turnover of agro-forestry-fishery products in the first 11 months of 2024 reached 56.74 billion USD, an increase of 19% over the same period in 2023. The sector has exceeded the set target of 54-55 billion USD for the whole year, and is confidently aiming for a new record of 60 billion USD.

Hanoi achieves or exceeds 23/24 socio-economic targets for 2024

08:57 | 13/12/2024 Infographic

Hanoi achieves rather comprehensive results in its socio-economic development in 2024, with 23/24 targets completed or exceeded.

Policy

Amended Electricity Law proves MoIT’s institutional improvement success

17:06 | 23/12/2024 Policy

Ministry proposes extending agricultural land tax exemption through 2030

15:06 | 23/12/2024 Policy

Gov't targets to gradually make English second language at schools by 2030

15:45 | 21/12/2024 Policy

The Government has approved a plan for international cooperation in the field of education and training until 2030 in order to improve the quality of workforce for socio-economic development.

Nine newly-adopted laws made public

16:42 | 20/12/2024 Policy

The Presidential Office on December 20 announced the President’s order to make public nine new laws that were passed by the 15th National Assembly at its eighth session.

Industry & Trade

Success story behind 500kV Circuit-3 transmission line project

16:43 | 23/12/2024 Energy

(VEN) - After over-seven-month construction, the 500kV Circuit-3 Quang Trach - Pho Noi power transmission line project, with its enormous workload, was completed on schedule, marking a milestone of the Vietnamese electricity sector in 2024.

Ministry proposes incentives for renewable energy projects

16:17 | 20/12/2024 Energy

The Ministry of Industry and Trade has proposed incentives to attract investments in renewable energy projects in a draft decree on implementing the Law on Electricity, which has recently been made public for comments.

The Era of Advancement for Vietnam Industrial Park

17:15 | 19/12/2024 Industry

(VEN) - The Vietnam Industrial Park Forum 2024, themed “The Era of Advancement for Vietnam Industrial Park”, is officially held in Ho Chi Minh City.

Vietnamese coffee sector working to meet EU Deforestation Regulation

16:38 | 18/12/2024 Industry

The Vietnamese Ministry of Agriculture and Rural Development (MARD) and the Sustainable Trade Initiative (IDH) organisation of the Netherlands on December 17 co-organised the handover ceremony of the pilot results for the database system for forests and coffee-growing areas in compliance with the EU Deforestation Regulation (EUDR).

Investment

Nghe An Southeast Economic Zone aims to attract 1 billion USD in FDI in 2025

12:33 | 21/12/2024 Investment

The Southeast Economic Zone of Nghe An Province targets attracting around 1 billion USD in foreign direct investment (FDI) in 2025, heard at a conference held by the Nghe An Southeast Economic Zone Management Board in Vinh City on December 20.

Boeing aims to expand investment and cooperation in Vietnam’s defense sector

17:00 | 19/12/2024 Investment

Mr. Dale McDowall, Executive Leader, Defense and Aerospace, Singapore and Southeast Asia at Boeing's Defense, Space & Security, announced that Boeing aims to invest in Vietnam and expand cooperation in the defense sector.

Can Tho attracts non-state investment

10:21 | 17/12/2024 Investment

Can Tho has been planned as a nuclear urban centre of the Mekong Delta region and received central government attention after the National Assembly issued a resolution on piloting special mechanisms for Can Tho’s development.

FDI remains vital contributor to boost economic growth

09:06 | 13/12/2024 Investment

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

Finance-Banking

Cashless payment requires biometric data updating from January 1, 2025

10:30 | 24/12/2024 Finance-Banking

From January 1, 2025, customers will not be able to perform any digital transactions on mobile if they have not completed the biometric information update.

Banking sector: Capital flows with no congestion

17:13 | 23/12/2024 Finance-Banking

(VEN) - So far, despite the difficulties in capital sources, the Vietnamese banking sector continued to maintain stability. Capital injection into the economy has been more favorable, with no congestion like in previous years. That is a great achievement of the sector in 2024.

Year-end surge in property bond issuance amid financial challenges

09:39 | 20/12/2024 Finance-Banking

As 2024 draws to a close, Vietnam's real estate industry is witnessing a notable surge in corporate bond issuances.

Vietcombank named most valuable brand in Vietnam

16:43 | 18/12/2024 Finance-Banking

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has become the most valuable brand in Vietnam in 2024, according to a recently released report of Forbes Vietnam.

Environment

Vietnam likely to face continued turbulent weather systems in 2025

14:26 | 19/12/2024 Environment

Global temperatures are expected to rise next year, posing a significant risk of extreme and prolonged heat waves in Vietnam, Mai Van Khiem, Director of the National Centre for Hydro-Meteorological Forecasting (NCHMF), has predicted.

Nature-based projects help Mekong Delta fight climate change

16:31 | 18/12/2024 Environment

Nature-based projects implemented by the World Wildlife Fund (WWF) Vietnam in the Mekong Delta region have helped support local residents to adapt to climate change, heard at a workshop which is part of The Mekong Connect Forum 2024 held in Mekong Delta province of An Giang on December 17.

11 rare monkeys released back into wild in Nghe An

09:27 | 18/12/2024 Environment

Eleven rare monkeys were released into the Pu Huong Nature Reserve in the central province of Nghe An on December 17.

Master Plan on Sustainable Exploitation and Use of Coastal Resources announced

11:26 | 16/12/2024 Environment

(VEN) - The Master Plan on Sustainable Exploitation and Use of Coastal Resources for the 2021-2030 period, with a vision to 2050, was announced by the Ministry of Natural Resources and Environment on December 15 at a conference in Khanh Hoa Province.

Science - Technology

Contracts worth 286.3 million USD inked at Vietnam Int’l Defence Expo 2024

17:02 | 22/12/2024 Science - Technology

Sixteen contracts worth 286.3 million USD in total, and 17 cooperation agreements between Vietnam’s defence industry units and businesses from various countries such as the US, India, France and Belgium were signed at the Vietnam International Defence Expo 2024 held in Hanoi from December 19-22.

Vietnam can partner with UK in developing nuclear power: Expert

12:43 | 21/12/2024 Science - Technology

Vietnam should research the feasibility of applying small modular nuclear reactor technology that the UK is currently working on, according to Dr. Dao Duc Cuong from the mechanical, engineering and energy faculty of the University of Bradford of the UK.

Vinaphone launches fastest 5G service in Vietnam

12:38 | 21/12/2024 Science - Technology

Vinaphone, the mobile network operator under the Vietnam Posts and Telecommunications Group (VNPT), has launched its official 5G service offering ultra-fast speed and unparalleled experience for both individual users and businesses alike.

Vietnam cooperates with Google to launch “Official Government Apps" feature

17:13 | 20/12/2024 Science - Technology

The Authority of Information Security (AIS) under the Ministry of Information and Communications, in collaboration with Google, launched the "Official Government Apps" feature on December 20 to enhance user protection against fraudulent activities and ensure online safety in Vietnam.

Society

30-day free rides on 17 bus routes connected to Metro Line 1

16:14 | 23/12/2024 Society

(VEN) - There will be 200 train trips to transport passengers, and all passengers using the 17 electric bus routes will enjoy free travel for one month from the launch date of Ben Thanh - Suoi Tien Metro Line (Metro Line 1).

Bac Ninh: 28 additional 4-star-rated OCOP products

23:24 | 22/12/2024 Society

(VEN) - Bac Ninh province recently organized the second assessment and classification of OCOP products in 2024. Accordingly, 28 more OCOP products have been rated as 4-star. Thus, so far, the province has more than 100 OCOP 3-star- and 4-star-rated products.

HCM City’s first metro line launched after years of delay

16:47 | 22/12/2024 Society

Ho Chi Minh City marked a significant milestone in its long-awaited mass transit development on December 22, with the official launch of its first metro line after years of delay.

Aviation sector strengthens smuggling, commercial fraud and counterfeit goods control

09:49 | 22/12/2024 Society

(VEN) - On the afternoon of December 20, the Civil Aviation Authority of Vietnam (CAAV) issued a document to relevant units regarding the implementation of a plan to combat smuggling, commercial fraud, and counterfeit goods before, during, and after the Lunar New Year (Tet) of 2025.

Vietnamese Brands

BCC eyes leader in applying biotechnology in comprehensive healthcare

10:22 | 24/12/2024 Vietnamese Brands

VAECO contributes to elevating Vietnamese aviation brand

17:11 | 23/12/2024 Vietnamese Brands

(VEN) - A subsidiary of Vietnam Airlines, the Vietnam Airlines Engineering Company Limited (VAECO), currently provides maintenance, repair and overhaul (MRO) services for the entire Vietnam Airlines fleet and over 80 other commercial airlines worldwide.

Petrovietnam keeping national “energy flame” ever burning

16:17 | 23/12/2024 Vietnamese Brands

(VEN) - On November 27, in Hanoi, the Vietnam Oil and Gas Group (Petrovietnam) held a meeting to celebrate the 63rd anniversary of the Traditional Day of the Vietnamese oil and gas sector (November 27, 1961 - November 27, 2024). At the event, the Group praised outstanding member units for exceeding financial targets and implementing corporate culture in the first 11 months of 2024.

Vietnamese products crave out a niche in UK market: Official

15:26 | 23/12/2024 Vietnamese Brands

Vietnamese goods have steadily established a strong presence in the UK, with exports to this demanding market continously growing since 2021, said Hoang Le Hang, First Secretary of the Vietnam Trade Office in the UK.

Culture

Fireworks to light up sky over Hanoi on New Year celebration

15:13 | 23/12/2024 Culture

The capital city of Hanoi is set to welcome the New Year 2025 with spectacular firework displays at five locations and 30 venues for the Lunar New Year (Tet) Festival.

Vietnam’s high-end fashion targets Chinese market

10:04 | 22/12/2024 Culture

An increasing number of Chinese celebrities are choosing high-end Vietnamese fashion, creating new opportunities for Vietnamese designers to make their mark in the 1.4 billion-strong market.

Enduring tradition of Ha Nhi ethnic minority group's costumes

13:14 | 21/12/2024 Culture

Nestled in the rugged landscapes of northern mountainous Dien Bien province, Ha Nhi ethnic minority group in Sin Thau, Sen Thuong, Leng Su Sin and Chung Chai communes of Muong Nhe district have preserved their traditional costumes through generations, ensuring that its significance remains as vital today as it was in the past.

Legendary band Boney M to thrill Vietnamese audiences this Christmas

14:49 | 17/12/2024 Culture

World renowned disco band Boney M are set to enliven the Central Highland province of Lam Dong alongside celebrated singers and bands from the 1970s and 1980s, including Joy and Samantha Fox, during the Da Lat spring concert which will be held on December 21.

Tourism

Vietnam a green, attractive destination

16:30 | 23/12/2024 Tourism

(VEN) - Vietnam is seeking to turn tourism into a spearhead economic sector, and has chosen green, sustainable tourism development as an important solution to reach this target.

Mekong Delta tourism continues to surge

15:21 | 23/12/2024 Tourism

The Mekong Delta, one of Vietnam's key tourism regions, has worked hard in developing new products and promoting its offerings this year, achieving impressive results in visitor numbers and revenue from tourism and related services.

Ben Thanh-Suoi Tien metro line - catalyst for HCM City's tourism development

15:17 | 23/12/2024 Tourism

The official launch of the first metro line in Ho Chi Minh City, which connects Ben Thanh Market in district 1 with Suoi Tien Theme Park in Thu Duc city, not only marks a significant milestone in its urban transport system but add a catalyst for the city’s stronger tourism development.

Overseas tourism promotion: Breakthrough in market connectivity

14:46 | 23/12/2024 Tourism

(VEN) - In 2024, overseas tourism promotion activities achieved groundbreaking effectiveness in connecting tourist markets.

Finance ministry proposes extending environmental tax cut on fuel products in 2025

See also

See more news

Multimedia