The proposal suggests extending the 2% VAT reduction from July 1, 2025, until the end of 2026 for goods and services currently taxed at 10%, lowering them to 8%.
Prime Minister Pham Minh Chinh signed an official dispatch on February 18, requesting ministries, sectors, and localities to speed up the allocation and disbursement of the public investment in 2025.
In a significant move to support businesses during challenging times, the Vietnamese government has extended and enhanced various tax relief programmes for 2025, with reductions and deferral measures aimed at stimulating economic growth.
The positive socio-economic results of 2024 lay a crucial foundation for Vietnam to enter 2025, when the economy is expected to accelerate and achieve the highest goals outlined in the 5-year socio-economic development plan for the 2021-2025 period, according to General Director of the General Statistics Office (GSO) Nguyen Thi Huong.
Vietnam’s economy has recovered and grown strongly in 2024, gradually regaining the growth momentum seen before the COVID-19 pandemic, with many positive signs, especially in exports and foreign direct investment (FDI) attraction, according to statistics from the Vietnam Chamber of Commerce and Industry (VCCI).
Given the 10-month performance, authorities believed Vietnam's economic growth is likely to surpass this year’s target, and more efforts are being taken to tackle bottlenecks to growth.
To enable the Mekong Delta to fully tap its potential, it is necessary to promote regional linkages in trade promotion and export-import activities, which would help consolidate and optimise local resources for sustainable development, according to Deputy Minister of Industry and Trade Phan Thi Thang.
Vietnam's logistics industry is witnessing significant changes and has become an attractive destination for businesses and investors, insiders said at a series of seminars held within the on-going Vietnam International Logistics Exhibition (VILOG) 2024 in Ho Chi Minh City.
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4% in the first half of this year.