PM asks for measures to control state revenue loss
Newly-elected Prime Minister Nguyen Xuan Phuc had a working session with the Ministry of Finance (MoF) on April 21, focusing on measures to tackle state revenue loss and state budget woes.
Prime Minister Nguyen Xuan Phuc speaks at the working session (Source: VNA)
Hanoi (VNA) – Newly-elected Prime Minister Nguyen Xuan Phu𒆙c had a working session with the Ministry of Finance (MoF) on April 21, focusing on measures to tackle state revenue loss and state budget ꦐwoes.
He ordered the MoF to build specific and effective solutions to revenue loss, which were mostly caused by commercial fraud and tax-related violations.
Regulations asking all commercial shops, especially in big cities like Hanoi and Ho Chi Minh City, to have invoices, and making clear the customs duty charges were measures suggested by the Government leader to solve the problem which has been exacerbated by the recent cheap price of export oil.
The MoF was also requested to speed up the equitisation of State-owned enterprises, yet had to be careful to avoid asset losses and the appearance of interest groups.
The ministry – in charge of managing the State assets worth about 3.9 quadrillion VND (174.9 billion USD) and other financial funds – has to tighten its grip and report frequently to the Government over the use of State assets and its operations of those funds, he said.
According to economists, Vietnam’s gross domestic product (GDP) growth reached only 5.46 percent in the first quarter of 2016, down from that of the same period last year.
If no drastic measures are taken, the country will be difficult to reach the set yearly target of 6.7 percent.
The PM affirmed that the Government will not adjust the GDP growth rate for 2016.
Therefore, the MoF needs to double efforts to boost production and business, with the focus on administrative procedure reform, especially in taxation and customs, to attract more investment.
The ministry was also urged to work with the State Bank of Vietnam and the Ministry of Planning and Investment on measures to curb inflation, stabilise the macro economy, and perfect the institution to achieve sustainable growth.-VNA
Deputy Prime Minister Vu Van Ninh has asked the Finance Ministry to execute policies favourable for businesses, thereby improving national economic competitiveness, in light of plummeting oil prices.
About 14.7 percent of the State budget revenue, or 150 trillion VND (6.7 billion USD), will be spent on paying debt in 2016, the Ministry of Finance (MoF) revealed on March 22.
Budget revenues were estimated at 230.5 trillion VND (about 10 billion USD) in the first quarter of this year, up 0.3 percent year on year and meeting 22.7 percent of collection goals.
The Ministry of Finance will continue completing tariff policies and reforming tariff and customs administrative procedures to support production and business.
Prime Minister Nguyen Xuan Phuc has urged the Ministry of Planning and Investment (MPI) and other ministries and agencies to promptly reach consensus on solutions to the lingering problems.
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
Highlighting the transformative potential of the draft law in revitalising Vietnam’s railway industry, Hoang Van Cuong, a deputy of Hanoi, expressed his support for Article 39, which empowers the Prime Minister to issue a list of railway-related goods and services to be assigned or ordered from domestic enterprises for production.
According to the Ministry of Public Security, Hoan, formerly Deputy Minister of Labour, Invalids and Social Affairs, is under investigation for allegedly taking bribes in connection with a case involving the Hoang Long Construction and Manpower Supply JSC and related units.
Chairing a national conference on the organisation of the examination on June 18, the PM highlighted the historical significance of the examination, as the restructuring of provincial-level administrative units is underway and the two-tier local administration model is set to officially begin operations on July 1.
Right on the same day, the ministry issued its highest-level travel warning, urging Vietnamese citizens not to travel to Israel or Iran, and advised those already in these countries to swiftly consider evacuation or relocation plans.
From the struggles against colonialists and imperialists to the period of Doi moi (renewal) and international integration, the Vietnamese revolutionary press has always played a pioneering role on the ideological and cultural front, he said.
The Party leader's working session with the standing boards of the Party Committees of HCM City, Ba Ria – Vung Tau and Binh Duong, the VNA General Director's remarks on the occasion of the 19th OANA General Assembly, the launch of new NIC - Google initiatives aimed at bolstering AI entrepreneurship and digital literacy in Vietnam are among news highlights June 18.
Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
The Vietnamese representative also emphasised the shared responsibility of relevant parties to build trust, enhance cooperation, and jointly manage the risks of conflict, thus safeguarding long-term peace and stability in the East Sea.
The National Assembly on June 18 passed the law amending and supplementing a number of articles of the Law on Product and Goods Quality, with 408 out of 420 participating deputies voting in favour, accounting for 85.36% of the total.
The Party leader asked the new HCM City to embrace a multi-centre and integrated urban ecosystem where each development pole functions as a link complementary to and intelligently connected with each other in a harmonious whole.
The resolutions issued by the PM as well as ministries and ministry-level agencies reassign responsibility for 346 administrative procedures - 18 from district to provincial levels, 278 to commune level, and 50 eliminated.
Legislators are due to pass several amended laws, including the Law amending and supplementing several articles of the Law on Economical and Efficient Use of Energy, and the Law amending and supplementing several articles of the Law on Product and Goods Quality.
Vietnamese localities' readiness to implement the two-tier local administration model, the evacuation of 18 Vietnamese citizens from Iran, Petrovietnam's 11th ranking in the 2025 Fortune Southeast Asia 500 are among news highlights on June 17 evening.
The General Secretary underlined the resolve to achieve a growth rate of at least 8% in 2025, laying the groundwork for double-digit growth in the following period. He noted that these are mandatory targets, with no alternative path to success.
Restructuring and improving the quality of officials, civil servants, and public employees is no longer a choice, but an urgent requirement to transition from administrative management to governance in service of the people.
The Vietnamese Embassy in Israel has advised Vietnamese people living there to proactively prepare and seek ways to leave the country via land border crossings, especially toward Jordan or Egypt, when security and safety conditions allow.
Prime Minister Nguyen Xuan Phuc speaks at the working session (Source: VNA)
