The 14th National Assembly adopted a resolution on the State budget estimate for 2017 during the ongoing second session in Hanoi on November 11 with 79.31 percent of votes.
Hanoi (VNA) – The 14th National Assembly🀅 adopted a resolution on the State budget estimate for 2017 during the ongoing second session in Hanoi on November 11 with 79.31 percent of votes.
Accordingly, the total State budget collection is estimated at more than 1,200 trillion VND (54.5 billion USD) while the total spending will be over 1,390 trillion VND (63.1 billion USD), making the budget deficit account for 3.5 percent of the gross domestic product (GDP).
The resolution requires the Government to carry out a tight fiscal policy which combines with monetary policy to stabilise the macro-economy, curb inflation and fuel economic growth.
From 2017, toll and maritime fees will be used to maintain roads and ensure maritime safety. Special consumption tax on petroleum from Nghi Son oil refinery and 72 percent of its profit will be channeled into the State budget, with the remaining being invested into the Vietnam National Oil and Gas Group in line with the law.
The government will instruct localities to use revenues from lottery business for the priority fields of education, vocational training, health care, new rural construction and climate change response.
The fund for food safety in localities will be equivalent to the amount of fines for relevant violations.
The government bonds of at least five-year maturity will account for 70 percent of the total. Regular spending in ministries, agencies and localities will be cut down, including those for conferences, seminars, foreign trips and vehicle purchase.
Ministries, agencies and localities must abide by the law on thrift practice and wastefulness prevention, and the law on anti-corruption.
From July 1, 2017, the base salary will be increased from 1.21 million VND to 1.3 million VND per month.
Next year, 50 trillion VND (2.25 billion USD) worth of government bonds will be used for key works and projects in the medium-term public investment plan.
The government will take positive measures to reduce overspending while enhancing inspection over the use of loans to ensure that the public, government and sovereign debts are within limits.
During the session, the NA also passed a resolution on amendments and supplements to several articles of Resolution No.55/2010/QH12 on waiving and reducing agricultural land use taxes.-VNA
Legislators approved a resolution on the five-year financial plan with 86.64 percent of “yes” votes during the ongoing second meeting of the 14th National Assembly on November 9.
A friendship meeting was held in Hanoi on November 9 on the occasion of the visit by Permanent Politburo member and Chairman of the Standing Committee of the National People’s Congress (NPC) of China
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vice Chairman of the municipal People’s Committee Nguyen Manh Cuong highlighted ASEAN’s nearly six decades of development, during which the region transformed from division to harmony, from confrontation to cooperation, and from poverty to dynamic growth, becoming a global bright spot for regional cooperation.
Thirty years ago, on July 28, 1995, Vietnam’s accession to ASEAN marked a historic strategic decision, opening a new chapter in the country’s integration process and beginning its strong rise.
Ambassador Vu Le Thai Hoang has outlined specific priorities and proposals for cooperation with the UNODA in preparation for the upcoming 11th Review Conference of the Non-Proliferation of Nuclear Weapons (NPT).
The Vietnamese Party leader's visit is therefore expected to mark a new stage in the development of the Comprehensive Strategic Partnership between the two countries, with a focus on such areas as digital transformation, supply chains, semiconductors, clean energy, and maritime security, Choe assessed.
At their meeting, which took place in the Angolan capital of Luanda on August 7 as part of State President Luong Cuong’s ongoing state visit to the African nation, the two officials also agreed to make full use of existing cooperation mechanisms, particularly the Vietnam – Angola Intergovernmental Committee, and step up exchanges of delegations at all levels.
President Luong Cuong's talks with his Angolan counterrpart João Manuel Gonçalves Lourenço, Vietnamese leader's receptions for a delegation from the Japan – Vietnam Parliamentary Friendship Alliance, and the Government's regular meeting for July are among news highlights on August 7 evening.
Illustrative image (Source: VNA)
