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NA Committee turns spotlight on financial support for COVID-19 affected businesses and people

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The National Assembly Standing Committee met on Thursday to discuss ways to support companies and people disrupted by the pandemic. VNA/ Photo

HÀ NỘI – The National Assembly Standing Committee yesterday continued discussions about the best ways to support businesses and people affected by the COVID-19 pandemic.

Minister of Finance Hồ Đức Phớc said many solutions have already been implemented. The total amount of tax and budget revenue that had been extended, exempted and reduced according to the policies issued in 2020, has reached about VNĐ129 trillion (US$5.64 billion).

In 2021, the Government submitted to the National Assembly Standing Committee plans to continue the implementation of four solutions for those affected by the pandemic. It includes continuously extending the deadline for paying tax and land rent in 2021; reducing environmental protection tax on jet fuel in 2021; reducing import tax rates for many groups of goods; and decreasing the collection of 30 types of fees for the whole year.

These solutions would be expected to support businesses and people with a total value of around VNĐ118 trillion ($5.16 billion). Of that, the extended amount of tax and land rent would be roughly VNĐ115 trillion ($5.02 billion) and the rest would be from exempted or reduced taxes and fees.

In addition, the State budget has spent more than VNĐ26 trillion ($1.13 billion) for different supportive policies.

However, due to the complicated developments of the pandemic, which has heavily affected businesses and people, especially small and medium-sized enterprises, more solutions would be needed this year, the Minister said.

Chairman of the National Assembly’s Finance and Budget Committee Nguyễn Phú Cường presented a verification report, saying that the standing committee agreed with the policy of a 30 per cent reduction in profit tax for businesses with a total revenue for this year that did not exceed VNĐ200 billion ($8.74 million).

He suggested, however, that one more condition should be added to clarify that only businesses whose total revenue decreased this year compared to last year would be eligible for the supportive policies.

However, some deputies said that the additional condition should be removed as businesses that made a profit during the pandemic did so through extreme efforts and should be supported to overcome other financial difficulties as well.

Others members said the authorities should compare the total revenue of 2021 of businesses with their total revenue of 2019 before the pandemic began. Others proposed that the reduction of profit tax must be based on four criteria, which are affected region, affected period of time, affected industry, and damage levels.

Based on those points, businesses could claim profit tax reductions of 30 per cent, 50 per cent, and 100 per cent, depending on their individual circumstances.

Regarding tax reduction and exemption for business households and individuals in the third and fourth quarters of this year, the majority of the members agreed as most households and individuals have had to suspend their business activities since the COVID-19 pandemic became complicated.

Many committee members approved the reduction of value-added tax for businesses in a number of areas such as transport and warehousing services to stimulate consumption and reduce input costs.

The committee agreed with the Government’s suggestion to exclude businesses operating in online publishing activities and goods and services supply through online platforms from the affected list.

National Assembly Chairman Vương Đình Huệ asked the Ministry of Finance to clarify the beneficiaries.

He said there are areas and fields that receive benefits that have seen better growth during the pandemic such as the production of masks, medical equipment and supplies, e-commerce, and online companies.

Huệ said the tax authorities would supervise businesses who register for the assistance.

He suggested continuing to review the interest rate credit policy for a number of affected industries and fields that are not yet on the priority list such as aviation, freight and passenger transport, travel agencies, and hotels. Businesses in these fields were facing a lot of difficulties in cash flow, he said.

Also at the meeting, National Assembly Vice Chairman Nguyễn Đức Hải confirmed the National Assembly Standing Committee agreed with the proposed supportive policies.

He said the reduction of profit tax for businesses whose total revenue in 2021 did not exceed VNĐ200 billion and total revenue in 2021 reduced compared to that of 2019, would be the benchmark for comparison and policy resolutions in the long term.

Regarding the reduction of value added tax this year, he suggested Government review the areas proposed and make sure online software publishing companies and online goods and services suppliers would not be in the priority list.

On the same day, the National Assembly Standing Committee discussed piloting a number mechanisms and policies for the development of Thanh Hóa Province.

The committee agreed that the annual additional fund for Thanh Hóa Province from the central budget would not exceed 70 per cent of the increase in revenue from import and export activities through Nghi Sơn seaport.

This is to help infrastructure, evacuation and resettlement in Nghi Sơn Economic Zone in order to attract investment in key projects in the Nghi Sơn Economic Zone.

Source: https://vietnamnews.vn/politics-laws/1032897/na-committee-turns-spotlight-on-financial-support-for-covid-19-affected-businesses-and-people.html

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Vietnam’s field hospital in South Sudan awarded with UN peacekeeping medals

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The 63 staff members of Vietnam’s Level-2 Field Hospital Rotation 4 operating at the United Nations Mission in South Sudan (UNMISS) have been honored with the UN Peacekeeping Medals for their dedication and outstanding contributions to UN missions.

The award ceremony was held in Bentiu, South Sudan, on Wednesday, marking an important milestone for the field hospital after nearly a year of duty in South Sudan.

Attending in the event were Lieutenant General Mohan Subramanian, Force Commander of the UNMISS; Jane Lanyero Kony, acting head of the UN Peacekeeping mission’s Field Office in Bentiu; Iqbal Mohd, UNMISS Chief Medical Officer; Lieutenant Colonel Nguyen Kim Tinh, Commander of the UN peacekeeping forces of Vietnam in South Sudan; and Lieutenant Colonel Vu Minh Duong, director of the hospital, among other participants.

With the duty of providing medical care for UN staff working at the mission, the hospital has always strived to successfully complete its duties, contributing to the promotion of the beautiful images of the country and people of Vietnam.

Addressing the ceremony, Lieutenant General Subramanian and Kony praised the dedication and professionalism of the hospital’s staff members, and emphasized that the medals are the UN’s recognition for their great efforts during their missions in South Sudan.

The awards also serve as a demonstration for Vietnam’s contributions to peace and stability in the world, they added.

On behalf of the hospital staff, Lieutenant Colonel Duong pledged that they will continue devoting all their ability to provide the best possible healthcare and treatment services for UN staff as well as local people.

Vietnam has so far hosted four field hospitals in South Sudan.

The first field hospital was opened in October 2018 and the second and third were launched in November 2019 and March 2021, respectively.

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The 63 staff members of Vietnam’s Level-2 Field Hospital Rotation 4 operating at the United Nations Mission in South Sudan (UNMISS) have been honored with the UN Peacekeeping Medals for their dedication and outstanding contributions to UN missions.

The award ceremony was held in Bentiu, South Sudan, on Wednesday, marking an important milestone for the field hospital after nearly a year of duty in South Sudan.

Attending in the event were Lieutenant General Mohan Subramanian, Force Commander of the UNMISS; Jane Lanyero Kony, acting head of the UN Peacekeeping mission’s Field Office in Bentiu; Iqbal Mohd, UNMISS Chief Medical Officer; Lieutenant Colonel Nguyen Kim Tinh, Commander of the UN peacekeeping forces of Vietnam in South Sudan; and Lieutenant Colonel Vu Minh Duong, director of the hospital, among other participants.

With the duty of providing medical care for UN staff working at the mission, the hospital has always strived to successfully complete its duties, contributing to the promotion of the beautiful images of the country and people of Vietnam.

Addressing the ceremony, Lieutenant General Subramanian and Kony praised the dedication and professionalism of the hospital’s staff members, and emphasized that the medals are the UN’s recognition for their great efforts during their missions in South Sudan.

The awards also serve as a demonstration for Vietnam’s contributions to peace and stability in the world, they added.

On behalf of the hospital staff, Lieutenant Colonel Duong pledged that they will continue devoting all their ability to provide the best possible healthcare and treatment services for UN staff as well as local people.

Vietnam has so far hosted four field hospitals in South Sudan.

The first field hospital was opened in October 2018 and the second and third were launched in November 2019 and March 2021, respectively.

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Source: https://tuoitrenews.vn/news/politics/20230324/vietnams-field-hospital-in-south-sudan-awarded-with-un-peacekeeping-medals/72250.html

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US human rights report incorrect: Vietnam foreign ministry

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The U.S. Department of State’s annual human rights report contains inaccurate information about Vietnam, Vietnam’s Ministry of Foreign Affairs has said, adding the Southeast Asian nation is ready to discuss the discrepancies with the U.S. 

Deputy spokeswoman of the foreign ministry Pham Thu Hang spoke at a press conference in Hanoi on Thursday in response to the U.S. State Department’s March 20 announcement of the 2022 Country Reports on Human Rights Practices – the Human Rights Report – which stated that some Asian countries, including Vietnam, had “seriously and systematically violated human rights.”

“Vietnam regrets that the Human Rights Report has released biased statements based on inaccurate information about Vietnam,” Hang said.

It is Vietnam’s consistent policy to protect and promote human rights, the deputy spokeswoman emphasized.  

Considering its citizens as the central and driving force of the country’s renovation and development process, Vietnam strives to improve living standards and rights, leaving no one behind, Hang told the conference.

“Basic human freedoms are enshrined in the Constitution of Vietnam. They are protected and promoted by legal documents as well as enforced in practice,” the representative of the foreign ministry stated.

She stressed that Vietnam is always willing to have frank and open discussions in a constructive spirit with the U.S. about issues of differences to promote mutual understanding and contribute to the development of the two countries’ comprehensive partnership.

Vietnam and the U.S. established diplomatic relations in 1995 and upgraded their ties to a comprehensive partnership in 2013.

“We look forward and are ready to work with the administration of U.S. President Joe Biden to further promote the two countries’ relations effectively and sustainably, for peace, stability, cooperation, and development in the region and the world,” Hang told the media when asked about the potential of upgrading of ties between the two countries. 

The U.S. has also repeatedly affirmed its support for a strong, independent, and prosperous Vietnam, the diplomat said.

In October last year, Vietnam was elected again to the United Nations Human Rights Council for the 2023-25 term, after its first membership in 2013.

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The U.S. Department of State’s annual human rights report contains inaccurate information about Vietnam, Vietnam’s Ministry of Foreign Affairs has said, adding the Southeast Asian nation is ready to discuss the discrepancies with the U.S. 

Deputy spokeswoman of the foreign ministry Pham Thu Hang spoke at a press conference in Hanoi on Thursday in response to the U.S. State Department’s March 20 announcement of the 2022 Country Reports on Human Rights Practices – the Human Rights Report – which stated that some Asian countries, including Vietnam, had “seriously and systematically violated human rights.”

“Vietnam regrets that the Human Rights Report has released biased statements based on inaccurate information about Vietnam,” Hang said.

It is Vietnam’s consistent policy to protect and promote human rights, the deputy spokeswoman emphasized.  

Considering its citizens as the central and driving force of the country’s renovation and development process, Vietnam strives to improve living standards and rights, leaving no one behind, Hang told the conference.

“Basic human freedoms are enshrined in the Constitution of Vietnam. They are protected and promoted by legal documents as well as enforced in practice,” the representative of the foreign ministry stated.

She stressed that Vietnam is always willing to have frank and open discussions in a constructive spirit with the U.S. about issues of differences to promote mutual understanding and contribute to the development of the two countries’ comprehensive partnership.

Vietnam and the U.S. established diplomatic relations in 1995 and upgraded their ties to a comprehensive partnership in 2013.

“We look forward and are ready to work with the administration of U.S. President Joe Biden to further promote the two countries’ relations effectively and sustainably, for peace, stability, cooperation, and development in the region and the world,” Hang told the media when asked about the potential of upgrading of ties between the two countries. 

The U.S. has also repeatedly affirmed its support for a strong, independent, and prosperous Vietnam, the diplomat said.

In October last year, Vietnam was elected again to the United Nations Human Rights Council for the 2023-25 term, after its first membership in 2013.

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Source: https://tuoitrenews.vn/news/politics/20230324/us-human-rights-report-incorrect-vietnam-foreign-ministry/72247.html

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Vietnamese Prime Minister receives delegation of the US-ASEAN Business Council

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Vietnamese Prime Minister Pham Minh Chinh met the U.S.-ASEAN Business Council (USABC) delegation at the Government Headquarters on March 22.

The attendees were leaders of the Government Office and the ministries of Planning and Investment, Industry and Trade, Foreign Affairs, Finance, Transport, Information and Communication, Health, Agriculture and Rural Development, Culture – Sports and Tourism.

Also in attendance were the State Bank of Vietnam, the U.S.-ASEAN Business Council President and CEO Ted Osius, the U.S. Ambassador in Vietnam Marc E. Knapper.

The leaders of more than 50 leading enterprises in the U.S. and the world were there too, including AES, Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, and FedEx Express. 

The Prime Minister welcomed the USABC and the U.S. business delegation to Vietnam, and the delegation members joined a frank, sincere and effective working session with Vietnamese agencies.

This is a continuation of previous working sessions and exchanges between the Vietnamese Government, the Prime Minister, ministries, branches and localities and the USABC and the U.S. businesses to remove difficulties, overcome challenges and develop together.

The Prime Minister thanked the U.S. Government for supporting Vietnam in COVID-19 prevention and control. 

Thanks to USABC and the U.S. businesses for accompanying Vietnam in overcoming difficulties, recovering and developing during the past years; he said the Government of Vietnam is always open and ready to listen to the thoughts, aspirations and opinions of the U.S. business community.

The Prime Minister said that Vietnam considers the U.S. one of its most important partners and welcomes the U.S. to support a strong, independent, prosperous Vietnam. 

Vietnam wishes to promote the Vietnam-U.S. Comprehensive Partnership relation to becoming more substantive, stable, and intensive based on respect for independence, sovereignty, territorial integrity and political institutions of each other.

The head of Government praised the production and business investment activities and high sense of responsibility of the U.S. business community in Vietnam, affirming that the Government is always open and ready to listen to the thoughts, aspirations and opinions of the U.S. business community.

The Prime Minister said that the Government always protects the legitimate rights and interests of investors and respects, encourages and is ready to create favourable conditions for this sector to develop in the long term, cooperate and compete healthily with other economic sectors in the spirit of “harmonious benefits, shared risks”.

The Representatives of the U.S.-ASEAN Business Council and U.S. businesses express their trust in Vietnam’s economic growth prospects, undertaking to place long-term investment in Vietnam, especially in the fields of green transformation, digital transformation, energy transformation, finance, manufacturing, automobile industry, entertainment industry, healthcare, life sciences, logistics, speeding up planning, and approving a few specific projects.

The U.S. businesses give the Government, ministries and branches of Vietnam a few suggestions to create more favourable conditions such as a legal framework on e-commerce; information network security and information accessibility; policy of tax; capital market reformation to promote investment; less cumbersome visa granting policy.

Energy continues to be the main topic of discussion with the goal of promoting the development of multi-billion U.S.-dollar energy projects in Vietnam.

A representative from AES Vietnam who joined the delegation said, “AES is the largest U.S. investor in Vietnam’s energy sector and plays active role in energy cooperation between the two countries, with our current projects Son My LNG terminal and Son My 2 power plant. Progress on these large- scale projects by AES and other member companies will help move Vietnam forward”.

After leaders of ministries and branches communicated and answered the comments and suggestions given by the USABC and the U.S. businesses, Prime Minister Pham Minh Chinh acknowledged the comments and answered suggestions given by the USABC and the U.S. businesses.

He also directed the ministries and branches of Vietnam to continue processing the issues according to the opinions and suggestions of the U.S. businesses, thereby continuing to promote economic cooperation, contributing to promoting Vietnam-U.S. Comprehensive Partnership relation become a substantive, effective, equal and mutually beneficial relationship.

The Prime Minister says that the Government of Vietnam continues to create favourable conditions for U.S. businesses to expand investment in Vietnam while creating conditions for Vietnamese enterprises to participate more deeply in the production value chain of the U.S. businesses.

He suggests that the two sides continue to discuss removing the barriers in production and business and improving the business investment environment.

The Prime Minister also informs about a few specific industries and fields that the USABC and the U.S. businesses are interested in, such as the digital economy and creative industries, healthcare, energy, agriculture, and aviation.

The Head of the Government of Vietnam suggests that USABC businesses should continue to act as a bridge between the US Government and businesses and the Government of Vietnam.

This will support to promote the cooperation channels between the two countries; strengthen the substantive and effective cooperation with Vietnam based on optimising the potentiality in the framework of Vietnam-U.S. Comprehensive Partnership relation, especially in the field of the economy-trade-investment; urge the U.S. Government to strengthen the economic and trade activities with ASEAN, to contribute to maintaining peace, stability, cooperation and development in Southeast Asia in particular and Asia-Pacific in general.

The Prime Minister suggests the USABC expand its investment business in Vietnam, focusing on the fields where Vietnam needs, and the USABC’s businesses have their strengths. The cooperation between business associations, industry associations and businesses of the two countries should be strengthened to create conditions for Vietnamese businesses to participate more deeply in the global supply chain and value.

The USABC cooperates with Vietnam in researching and developing specific policies to be able to approach and attract investment from the U.S. multinational companies in the two options: carrying out the big, high-tech projects, creating favourable conditions for the corporations to build the R&D centres, technology incubators associated with human resource training, modern management.

The council strengthens its cooperation, procurement and technology transfer to Vietnamese businesses, especially in the fields of vaccine production, therapeutic drugs, medical equipment, high technology, digital agriculture, and clean, smart agriculture to adapt to climate change.

The Prime Minister affirms that Vietnam is ready to import machines, equipment, tools and spare parts from the U.S. to improve the Vietnam-U.S. trade balance.

He suggests that U.S. businesses research and develop cooperation with Vietnam in this option and supports the Government of Vietnam’s cooperation with the U.S. Government in forming a bilateral cooperation mechanism on investment promotion to assess the potential, demand and investment cooperation opportunities between the two countries and increase two-way investment flows.

The Prime Minister believes that the USABC and the U.S. businesses will make effective contributions to the promotion of the Vietnam-U.S. Comprehensive Partnership relation more and more substantive and intensive based on mutual benefits, bringing growth and jobs for the people of both countries, contributing to the maintenance of the peace, stability, cooperation and development in the region and the world.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vietnamese Prime Minister Pham Minh Chinh met the U.S.-ASEAN Business Council (USABC) delegation at the Government Headquarters on March 22.

The attendees were leaders of the Government Office and the ministries of Planning and Investment, Industry and Trade, Foreign Affairs, Finance, Transport, Information and Communication, Health, Agriculture and Rural Development, Culture – Sports and Tourism.

Also in attendance were the State Bank of Vietnam, the U.S.-ASEAN Business Council President and CEO Ted Osius, the U.S. Ambassador in Vietnam Marc E. Knapper.

The leaders of more than 50 leading enterprises in the U.S. and the world were there too, including AES, Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, and FedEx Express. 

The Prime Minister welcomed the USABC and the U.S. business delegation to Vietnam, and the delegation members joined a frank, sincere and effective working session with Vietnamese agencies.

This is a continuation of previous working sessions and exchanges between the Vietnamese Government, the Prime Minister, ministries, branches and localities and the USABC and the U.S. businesses to remove difficulties, overcome challenges and develop together.

The Prime Minister thanked the U.S. Government for supporting Vietnam in COVID-19 prevention and control. 

Thanks to USABC and the U.S. businesses for accompanying Vietnam in overcoming difficulties, recovering and developing during the past years; he said the Government of Vietnam is always open and ready to listen to the thoughts, aspirations and opinions of the U.S. business community.

The Prime Minister said that Vietnam considers the U.S. one of its most important partners and welcomes the U.S. to support a strong, independent, prosperous Vietnam. 

Vietnam wishes to promote the Vietnam-U.S. Comprehensive Partnership relation to becoming more substantive, stable, and intensive based on respect for independence, sovereignty, territorial integrity and political institutions of each other.

The head of Government praised the production and business investment activities and high sense of responsibility of the U.S. business community in Vietnam, affirming that the Government is always open and ready to listen to the thoughts, aspirations and opinions of the U.S. business community.

The Prime Minister said that the Government always protects the legitimate rights and interests of investors and respects, encourages and is ready to create favourable conditions for this sector to develop in the long term, cooperate and compete healthily with other economic sectors in the spirit of “harmonious benefits, shared risks”.

The Representatives of the U.S.-ASEAN Business Council and U.S. businesses express their trust in Vietnam’s economic growth prospects, undertaking to place long-term investment in Vietnam, especially in the fields of green transformation, digital transformation, energy transformation, finance, manufacturing, automobile industry, entertainment industry, healthcare, life sciences, logistics, speeding up planning, and approving a few specific projects.

The U.S. businesses give the Government, ministries and branches of Vietnam a few suggestions to create more favourable conditions such as a legal framework on e-commerce; information network security and information accessibility; policy of tax; capital market reformation to promote investment; less cumbersome visa granting policy.

Energy continues to be the main topic of discussion with the goal of promoting the development of multi-billion U.S.-dollar energy projects in Vietnam.

A representative from AES Vietnam who joined the delegation said, “AES is the largest U.S. investor in Vietnam’s energy sector and plays active role in energy cooperation between the two countries, with our current projects Son My LNG terminal and Son My 2 power plant. Progress on these large- scale projects by AES and other member companies will help move Vietnam forward”.

After leaders of ministries and branches communicated and answered the comments and suggestions given by the USABC and the U.S. businesses, Prime Minister Pham Minh Chinh acknowledged the comments and answered suggestions given by the USABC and the U.S. businesses.

He also directed the ministries and branches of Vietnam to continue processing the issues according to the opinions and suggestions of the U.S. businesses, thereby continuing to promote economic cooperation, contributing to promoting Vietnam-U.S. Comprehensive Partnership relation become a substantive, effective, equal and mutually beneficial relationship.

The Prime Minister says that the Government of Vietnam continues to create favourable conditions for U.S. businesses to expand investment in Vietnam while creating conditions for Vietnamese enterprises to participate more deeply in the production value chain of the U.S. businesses.

He suggests that the two sides continue to discuss removing the barriers in production and business and improving the business investment environment.

The Prime Minister also informs about a few specific industries and fields that the USABC and the U.S. businesses are interested in, such as the digital economy and creative industries, healthcare, energy, agriculture, and aviation.

The Head of the Government of Vietnam suggests that USABC businesses should continue to act as a bridge between the US Government and businesses and the Government of Vietnam.

This will support to promote the cooperation channels between the two countries; strengthen the substantive and effective cooperation with Vietnam based on optimising the potentiality in the framework of Vietnam-U.S. Comprehensive Partnership relation, especially in the field of the economy-trade-investment; urge the U.S. Government to strengthen the economic and trade activities with ASEAN, to contribute to maintaining peace, stability, cooperation and development in Southeast Asia in particular and Asia-Pacific in general.

The Prime Minister suggests the USABC expand its investment business in Vietnam, focusing on the fields where Vietnam needs, and the USABC’s businesses have their strengths. The cooperation between business associations, industry associations and businesses of the two countries should be strengthened to create conditions for Vietnamese businesses to participate more deeply in the global supply chain and value.

The USABC cooperates with Vietnam in researching and developing specific policies to be able to approach and attract investment from the U.S. multinational companies in the two options: carrying out the big, high-tech projects, creating favourable conditions for the corporations to build the R&D centres, technology incubators associated with human resource training, modern management.

The council strengthens its cooperation, procurement and technology transfer to Vietnamese businesses, especially in the fields of vaccine production, therapeutic drugs, medical equipment, high technology, digital agriculture, and clean, smart agriculture to adapt to climate change.

The Prime Minister affirms that Vietnam is ready to import machines, equipment, tools and spare parts from the U.S. to improve the Vietnam-U.S. trade balance.

He suggests that U.S. businesses research and develop cooperation with Vietnam in this option and supports the Government of Vietnam’s cooperation with the U.S. Government in forming a bilateral cooperation mechanism on investment promotion to assess the potential, demand and investment cooperation opportunities between the two countries and increase two-way investment flows.

The Prime Minister believes that the USABC and the U.S. businesses will make effective contributions to the promotion of the Vietnam-U.S. Comprehensive Partnership relation more and more substantive and intensive based on mutual benefits, bringing growth and jobs for the people of both countries, contributing to the maintenance of the peace, stability, cooperation and development in the region and the world.

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Source: https://tuoitrenews.vn/news/politics/20230324/vietnamese-prime-minister-receives-delegation-of-the-usasean-business-council/72237.html

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