In its draft decree on land use fee reduction, the ministry said economic woes caused by a tight monetary policy, the Russia-Ukraine military conflict and a demand slump are expected to continue plaguing land-intensive industries such as property, agriculture and mining.

It suggested that fiscal aid be maintained this year to ease their burden.

Last year, Vietnam slashed land use fees by 30% for those affected by Covid-19 to accelerate the economic recovery. The aid amounted to VND3,500 billion.

Source: SGT