Intensified Deployment of Electronic Invoice Issuance for Each Petroleum Retail Sale

Intensified Deployment of Electronic Invoice Issuance for Each Petroleum Retail Sale

VCN - The Ministry of Finance states that the issuance of electronic invoices for each petroleum retail sale is fully supported by legal grounds. Alongside this, the Tax Department is escalating efforts in advocacy, leadership, directives, and the impleme
Transactions worth from 400 million VND to be reported to state bank

Transactions worth from 400 million VND to be reported to state bank

Transactions with a value of 400 million VND ($16,520)or more must be reported to the State Bank of Vietnam (SBV) from December 1, 2023, according to a new regulation.
Finance sector: Many solutions to promote anti-corruption

Finance sector: Many solutions to promote anti-corruption

VCN - According to the Ministry of Finance, through 10 months of 2023, the Ministry of Finance Inspectorate and units with specialized inspection functions under the Ministry have carried out more than 60,880 inspections and examinations, and discovered many violations in managing, using state capital and assets.
VAT reduction requires a combination of long-term solutions to support growth

VAT reduction requires a combination of long-term solutions to support growth

VCN - Responding to the opinions of National Assembly delegates on reducing value added tax (VAT), Minister of Finance Ho Duc Phoc said that this is only one of solutions and is effective in the short term, so it still needs long-term solutions for econom
Reducing VAT along with tax and fee supports helps stimulate demand, reduce costs, and increase profits

Reducing VAT along with tax and fee supports helps stimulate demand, reduce costs, and increase profits

VCN - According to the program of the 6th Session, Minister of Finance Ho Duc Phoc, authorized by the Prime Minister, presented a Proposal on reducing value added tax (VAT), with a proposal to continue implementing this policy in the first half of 2024.
Frozen IPO market makes it difficult to attract foreign capital

Frozen IPO market makes it difficult to attract foreign capital

The lack of initial public offerings (IPOs) from new market entrants makes it difficult for the securities market of Vietnam, which is dominated by banking stocks, to attract foreign capital.
Enhancing and streamlining of regular expenditure payment processes at the state treasury

Enhancing and streamlining of regular expenditure payment processes at the state treasury

VCN - The State Treasury, aspiring to transition from an Electronic Treasury to a Digital Treasury, continues to explore and implement innovations and improvements to further amplify the efficiency of its services.
Public-private partnership needed for sustainable rice farming

Public-private partnership needed for sustainable rice farming

Attracting investment and public-private partnership (PPP) plays an important role in implementing the project of sustainable development of 1 million ha of low-emission high-quality rice production in the Mekong Delta to 2030, said insiders.
Strengthen supervision to boost the insurance market

Strengthen supervision to boost the insurance market

VCN - Given by stricter regulations for insurance business activities, Mr. Ngo Viet Trung, Director of the Department of Insurance Management and Supervision (Ministry of Finance), said that this will help the insurance market develop sustainably.
State Treasury requires ensuring IT system to serve year-end settlement

State Treasury requires ensuring IT system to serve year-end settlement

VCN - The State Treasury (State Treasury) has just issued an official dispatch directing and guiding the State Treasury of provinces and centrally-run cities and the State Treasury Transaction Department to ensure the operation of the information technolo
The 30th APEC Finance Ministers

The 30th APEC Finance Ministers' Conference was a great success

VCN - As part of the 2023 APEC Finance Ministers' Process, the 30th APEC Finance Ministers' Conference was held in San Francisco, USA. Receiving the invitation of US Finance Minister Janet L. Yellen, Minister Ho Duc Phoc led the Vietnamese delegation of t
Repayment pressure on corporate bonds to peak next year

Repayment pressure on corporate bonds to peak next year

Total corporate bonds set to mature in 2024 will reach 329.5 trillion VND (13.5 billion USD), the highest in three years, according to a report by the Ho Chi Minh City Real Estate Association (HoREA).
Minister of Finance Ho Duc Phoc chaired the Investment Promotion Conference in the US

Minister of Finance Ho Duc Phoc chaired the Investment Promotion Conference in the US

VCN - Speaking at the opening of the conference, Minister of Finance Ho Duc Phoc stated the positive signs in the Vietnamese macroeconomy, the Government's development policies, and the implementation of the socio-economic development strategy.
Vietnam

Vietnam's M&A attractive to foreign investors

An influx of new capital from European and US firms into Vietnam has become noticeable, with the local mergers and acquisitions (M&A) market expected to maintain its attractiveness despite its relatively modest scale.
Enhancing the application of risk management in tax administration and preventing tax loss

Enhancing the application of risk management in tax administration and preventing tax loss

VCN - Recent developments show that some taxpayers, exploiting the leniency of mechanisms and policies, have established companies mainly for illegal activities such as buying and selling fake invoices.
Central bank ceases bill issue amid increasing interbank interest rates

Central bank ceases bill issue amid increasing interbank interest rates

The State Bank of Vietnam (SBV) has ceased bill issue after nearly two months of using the channel to withdraw cash out of the banking system.
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Efforts to remove obstacles to upgrade the stock market

Efforts to remove obstacles to upgrade the stock market

VCN - According to the sharing of Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC), in addition to completing the main criteria of international rating organizations in upgrading the stock market (TTCK), the State Securities Com
The State Treasury implements nine key tasks in 2024

The State Treasury implements nine key tasks in 2024

The deployment of key tasks plan in 2024 (refer to the Plan) of State Treasury was issued to focus resources on completing tasks during the year and following the proposed strategies.
SBV injects large amount of money to support capital for banks

SBV injects large amount of money to support capital for banks

The State Bank of Vietnam (SBV) on February 20 net injected more than 5 trillion VND (nearly 204 million USD) into the banking system through the open market operation (OMO) channel to support capital for commercial banks.
Vietnam Stock Exchange’s revenue down nearly 44% in 2023

Vietnam Stock Exchange’s revenue down nearly 44% in 2023

The Vietnam Stock Exchange (VNX) reported revenue of over 1.92 trillion VND (78.26 million USD) in 2023, down nearly 44% compared to the previous year.
Focusing on five tasks so that the securities industry continues to develop in the face of intertwined opportunities, challenges

Focusing on five tasks so that the securities industry continues to develop in the face of intertwined opportunities, challenges

VCN - Deputy Minister of Finance Nguyen Duc Chi raised five tasks that need to be focused in 2024 so that the securities industry continues to develop in the face of intertwined opportunities and challenges.
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