return icon

Finance ministry acts to improve business climate

The Ministry of Finance plans to hasten tax and customs administrative reforms this year to improve the business climate.


Staffs of Quang Binh Province Department of Customs were handling procedures via the customs automated system. The Ministry of Finance would hasten tax and customs administrative reforms this year as a bold effort to improve the business climate.



This was a highlight of Minister Dinh Tien Dung's recent decision for an action programme to implement a National Assembly resolution about solutions to improve the business climate and national competitiveness.

Accordingly, the finance ministry hopes to move up 7-10 spots in the World Bank’s ranking of paying taxes and social insurance and up 5-10 spots in trading across borders.

The ministry hopes to accelerate tax and customs administrative reforms, shorten procedures, modernise and use information technology in management to reduce the time spent conducting administrative procedures while ensuring transparency.

The ministry aims to provide at least 30 per cent of its public services online at level four, the highest level of online public services.

To gain a higher ranking in paying tax, the ministry plans to review the tax legal document system, including regulations about tax exemptions for agricultural land as well as issuing detailed regulations about freezing tax debts, remission of fines for late payment and overdue payables of payers no longer able to pay taxes.

In 2019, the ministry removed 49 administrative procedures, amended 23 and issued 38 new procedures.

Viet Nam's paying tax indicator jumped 22 spots from 131st to 109th out of 190 countries in the World Bank’s ranking announced on October 24, 2019.

The satisfaction of businesses about tax reforms also increased. A report by the Viet Nam Chamber of Commerce and Industry announced in November 2019 showed 78 per cent of surveyed firms said they were satisfied with tax reforms, three percentage points higher than the 2016 survey.

The Ministry of Finance was always top of Government agencies in administrative reforms. The Ministry of Finance ranked second in the Public Administrative Reform Index released in May 2019 and topped the Vietnam ICT Index for the seven consecutive years among Government ministries and ministerial-level agencies with public services. — VNS


A look at VN fashion through “Taste of Heritage”

After three years of suspension due to the Covid-19 pandemic, the Vietnam International Fashion Week Fall/Winter 2022 returned to Hanoi in late November with eye-catching collections in the spirit of 'Taste of heritage'.

Vietnamese interested in metaverse and fintech

According to a recent report by Meta and Bain & Company, Vietnam is among the top 3 countries besides Indonesia and the Philippines to adopt new technologies such as fintech and metaverse.

The opportunity for a chip-making industry in Vietnam

Chip production will fuel Vietnam's aspiration to become a prominent manufacturing hub in the region.

R&B legend Babyface, 2022 Masked Singer Vietnam’s winner to be on stage together

The much-awaited item of the 2022 “Ho Do" International Music Festival in HCMC will be a duet performance of R&B superstar Babyface and singer Ngoc Mai who won the Masked Singer Vietnam 2022, said Director of the festival, musician Huy Tuan.

HCM City to launch overnight cruises along Saigon River

Ho Chi Minh City’s tourism authority plans to launch overnight cruises with ships accommodating hundreds of people along the Saigon River starting next year.

Value of Vietnamese national football team hits record high

The total market value of the Vietnamese national football team has skyrocketed to EUR7.6 million, equal to US$8.01 million, marking a record high, according to the renowned German football site Transfermarkt.

Ministry announces 218 firms as prestigious exporters of Vietnam

As many as 218 companies have won the “Prestigious Export Business” title for 2021, according to the list unveiled by the Ministry of Industry and Trade (MoIT) on December 5.

Vietnam, RoK agree to upgrade ties to comprehensive strategic partnership

Vietnam and the Republic of Korea (RoK) have agreed to upgrade their ties to a comprehensive strategic partnership, President Nguyen Xuan Phuc told the press following his talks with RoK President Yoon Suk-yeol in Seoul on December 5.

Tourists flock to Sa Pa to see clouds

The number of tourists to Sapa (Lao Cai Province) has rocketed in recent days to admire the amazing clouds.

Fried squid paste in Halong Bay

As one of the largest seafood regions in Vietnam, Quang Ninh has the tastiest seafood dishes that one cannot forget. Among them, fried squid paste in Halong Bay will leave a lasting impression on diners thanks to its unforgettable taste.

Experience Hanoi in its autumn glory

Thanks to its geographical location, the Vietnamese capital city of Hanoi witnesses contrastingly different weather conditions during the four seasons of the year.


HCYU’s 7th National Congress to be held next week

Korean President hosts State-level welcoming ceremony for Vietnamese counterpart

President Nguyen Xuan Phuc was welcomed in Seoul with a 21-gun salute which is given to a foreign head of state during a State-level visit to the Republic of Korea (RoK).


2022 ASEAN Postal Business Meeting to be held in Binh Dinh

Ministry considering EVN’s proposal for electricity price hikes

The Ministry of Industry and Trade is reviewing Vietnam Electricity's (EVN) proposal to increase electricity prices as rising input cost was weighing on the largest power company with record loss anticipated for this year.