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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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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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 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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March 8, 2011
Vietnam will cut import tarriffs on sugar to 15 percent The Finance Ministry will cut import duties on sugar to 15 percent, in April, in order to ensure sufficient supply for the local market. The current tariff on refined sugar is 40 percent while raw sugar is subject to a 25 percent tax. According to the Finance Ministry, [...]
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February 26, 2011
Vietnam raised prices of various oil products on Thursday The Finance Ministry said it may cut petrol retail prices and re-impose import tariffs in the second quarter if prices fall on the world market. Otherwise prices could go up again, the ministry said, noting that even after the latest increase, local petrol prices are still [...]
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January 28, 2011
A gas station in Ho Chi Minh City. Without the price stabilization fund, Vietnam would not have been able to keep fuel prices stable, an official said. The Finance Ministry will soon step up inspections to prevent fuel traders from further misusing the price stabilization fund, Nguyen Tien Thoa, head of the Department of Price [...]
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February 6, 2010
The Ministry of Transport has suggested higher prices for domestic fights in 2010 in an effort to support the carriers. In a note sent to the Ministry of Finance on Wednesday, the Transport Ministry proposed prices of US$37 for fights shorter than 300 km, $46.75 for flights from 300 km to under 500 km, $64 [...]
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Posted in News, Travel | Comments Off
