FDI Shows Positive Contributions
Nhandan July 4, 1999 - According to tax statistics, during the first six months of the year, the foreign direct invested (FDI) businesses have contributed some VND 5,907 billion to the state budget, accounting for 42.7% of the annual plan. This means 92% in comparison with that of the same period last year. FDI businesses have shown great efforts in the implementation of tax laws.
FDI businesses, except crude oil ones, have contributed some VND 1,887 billion, reaching 52.4% of the annual plan and being equivalent to 83.3% of the first six months of 1998. Decline in revenue was partly due to preferential treatments given by the states and localities to foreign investment such as lowering land rents rates and cutting investment costs.
