December 26, 2011
Vietnam raised electricity prices by 5 percent last Tuesday The Ministry of Finance said prices of electricity, coal, fuel products and public services, which are heavily subsidized by the government, will be determined by the market no later than 2013. Prices of these essentials will gradually be “given back to the market,” the ministry said [...]
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December 22, 2011
A Petrolimex gas station in Hanoi The Finance Ministry has found that major Vietnamese importers of oil products made smaller losses than they previously reported. Petrolimex, the largest fuel trader with a market share of around 60 percent, had reported losses of VND1.8 trillion (US$85.7 million) in the first six months. However, the actual loss [...]
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December 14, 2011
The Vietnamese Finance Ministry has approved a 20 percent price rise for domestic flights from December 15. After the ministry issued the decision on December 6, national carrier Vietnam Airlines announced it will start raising airfares by 15-20 percent next Thursday. Other airlines – Air Mekong, Jetstar Pacific and VietJet Air – have confirmed [...]
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November 14, 2011
Workers at a ship yard of the Vietnam Shipbuilding Industry Group, or Vinashin. Many in Vietnam hope the government will pursue reforms that are broad enough and deep enough to fix debt-ridden state banks and rein in inefficient state enterprises (SOEs) such as Vinashin, which embarrassingly defaulted last year. After four years of economic instability, [...]
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October 15, 2011
Vietnam’s new cabinet makes a strong start with several “smart technocrats”, but economic woes and lack of transparency pose hurdles, according to analysts Residents fishing next to Han River bridge in central coastal city of Da Nang. New Transport Minister Dinh La Thang last week took the unusual step of firing the manager of [...]
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August 15, 2011
Gasoline prices have been kept unchanged The Finance Ministry has issued a statement standing by its decision to keep prices of petroleum products unchanged, saying a price cut is only an option after import taxes are raised. The statement, jointly issued with the Ministry of Industry and Trade, came amidst public disappointment over the news [...]
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July 17, 2011
Expectations that lower global prices would benefit consumers have been belied A worker pumps petrol to a motorcycle at a gas station in Hanoi. Vietnam raised retail fuel prices in late March and has left them unchanged since. When the government decided in March that local petroleum prices will be adjusted in line with [...]
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June 26, 2011
A car carrying a diplomatic number plate in Vietnam About 1,200 cars left behind by foreign diplomats when their office terms in Vietnam ended will be taxed under a finance ministry proposal, the Saigon Tiep Thi newspaper reported Tuesday. Â The cars, brought into Vietnam between 1988 and 2009 by foreign diplomats, have either not [...]
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June 19, 2011
The finance ministry plans to propose a tax exemption for taxpayers with a monthly income of VND5 million Vietnam’s Ministry of Finance is expected to propose a series of new polices to ease tax burdens in July, Tuoi Tre newspaper reported Thursday. A personal income tax exemption for taxpayers with a monthly income of VND5 [...]
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June 11, 2011
Sixteen former Vinashin officials and three government ministries implicated in the company’s financial debacle A ship assembled by the Vietnam Shipbuilding Industry Group (Vinashin)’s Ha Long Ship Building Company in the northern Quang Ninh Province. Three government ministries and 16 former Vinashin officials have been implicated by a team of government inspectors in the [...]
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