Central city lengthens priority list of foreign invested projects

Wed, 02/19/2003 - 15:31


Da Nang city, Feb. 19 (VNA) - The central coastal city of Da Nang is offering foreign investors incentives in 54 projects mostly in industries and tourism in an effort to woo an estimated 432 million USD for 2003-2010.

The list is to be announced at a conference scheduled for March 6-7 of which the agenda will focus the local preferencial taxes on land use rights and other favourable policies and administrative reforms.

Revised tax policy to meet ASEAN and WTO standards

Mon, 02/10/2003 - 16:15

REVISED TAX POLICY TO MEET ASEAN AND WTO STANDARDS


Ha Noi, Feb. 10 (VNA) -- This year will see a massive revision of the tax system, stressing transparency, in line with GATT/WTO principles, said Deputy Finance Minister Truong Tri Trung.

The senior tax policy maker said the revision would target seven major policies, including value added tax (VAT), the enterprises' revenue taxes, high income taxes, and import-export tariffs.

Poverty reduction program contributes to economic development

Mon, 02/10/2003 - 16:11


Ha Noi, Feb. 10 (VNA) -- The National Programme on Hunger Elimination and Poverty Reduction (Programme 135) has contributed to socio-economic development, markedly improving the living conditions of the poor in more than 2,300 poor communes.

In 2002, through the programme, more than 890 billion VND from the central budget were channelled to 2,233 communes with special difficulties and 51.6 billion VND from the local budget to 129 communes.

Mekong Delta set to double catfish farming

Thu, 02/06/2003 - 16:52


Ho Chi Minh City, Feb. 5 (VNA) -- Despite the on-going row between Viet Nam and the U.S. over catfish dumping, local farmers are pushing ahead on an investment plan to double the amount of catfish produced in the next five years in the provinces along the Cuu Long (Mekong) Delta.

The provinces have recently introduced a two-year master plan to boost tra and basa (the most popular varieties of Vietnamese catfish) production and consumption in the region, in order to meet the fishery sector's target of 3 billion USD in export turnover for 2005.

Viet Nam maintains high economic growth in January

Tue, 01/28/2003 - 11:21

Ha Noi, Jan. 28 (VNA) -- Viet Nam's socio-economic development in January is on the right track as it was in the last months of 2002, said Planning and Investment Minister Vo Hong Phuc at a monthly cabinet meeting in Ha Noi on Tuesday.

"In January, industrial production grew 14.9 percent year-on-year, of which the state-owned sector recorded an increase of 9.7 percent; the non-state sector, 21.5 percent and the foreign-invested sector, 16.3 percent," the minister told the cabinet.

Vietnamese goods present in 200 foreign markets

Tue, 01/14/2003 - 17:54

Ha Noi, Jan. 14 (VNA) -- Viet Nam has so far exported goods to more than 200 foreign markets.

The five leading staples - cruide oil, garments and textiles, aquatic products, footwear and rice - have contributed around 60 percent of the country's export value. Garments and textiles, aquatic products, and footwear annually fetch more than 1.5 billion USD each.

Viet Nam on the way to lower import taxes

Mon, 01/13/2003 - 17:19

Ha Noi, Jan. 13 (VNA) -- As the ASEAN Free Trade Area (AFTA) agreement nears, Viet Nam agreed to lower import taxes to beneath 5 percent on 97 percent of goods by 2005.

This means by 2005, Viet Nam will be using a system of tax rates for 10,800 commodities, whereas now there are 6,500 different tax rates in use.

And the Government will wait until July to implement the widespread tax cut on ASEAN imports.

Viet Nam hails Canadian verdict on dumping charge

Mon, 01/13/2003 - 16:30


Ha Noi, Jan. 13 (VNA) -- Viet Nam's foreign ministry spokeswoman has described as correct the Canadian International Trade Tribunal (CITT)'s verdict on the dumping charge against Viet Nam's exporters of water-proof footwear and footwear soles.

"This verdict has denied improper lawsuits filed by the Shoe Manufacturers' Association of Canada (SMAC) last March, and protected the legitimate interests of Vietnamese producers as well as shoe consumers, importers and distributors of Canada," spokeswoman Phan Thuy Thanh said.

Viet Nam determined to gain GDP growth over 7.5%

Wed, 01/08/2003 - 11:15

Ha Noi, Jan. 7 (VNA) -- Prime Minister Phan Van Khai has affirmed the Government's determination to achieve an economic growth rate of more than 7.5 percent set by the National Assembly in 2003.

Khai made the statement at the opening of a two-day meeting between the Government and 61 cities and provinces' leaders to discuss the implementation of national tasks set for 2003 by the 11th NA's second session.

Some statistics on economy in 2002 and projection for 2003

Fri, 01/03/2003 - 11:49

(Source: The Investment Review, December 30, 2002)

GDP growth
2002: 7% (projected 7%-7,3%)
2003: 7%-7,5% year-on-year

Industry growth
2002: 14,5% (projected 14%)
2003: 14%-14,5%

Agriculture-Forestry-Fishery growth
2002: 5,4% (projected 4,2%)
2003: 5%

Services growth
2002: 7% (as projected )
2003: 7%-7,2%

Exports growth
2002: 10% (đạt KH)
2003: 7,5%-8%

Total state budget revenue
2002: 6,5% higher than projected figure
2003: VND 123,700 billion

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