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Update news MoF

Where has SCIC invested the state’s money?

VietNamNet Bridge - The State Capital Investment Corporation (SCIC), a powerful conglomerate which is often compared with Singapore’s Temasek and Malaysia’s Khazanah, is bogged down with many investment projects.

Public debt increasing rapidly, Vietnam under repayment pressure

VietNamNet Bridge - If Vietnam becomes insolvent, this will have serious implications for the national economy, not just for several years, but for a few decades, economists have warned. 

Vietnam has high tax on dairy products, low tax on beer & liquor

VietNamNet Bridge - Experts have pointed out that it is unreasonable to impose low tax on discouraged products such as beer while imposing high taxes on milk. 

Finance Ministry prepares for $3 billion international bond-issuance campaign

VietNamNet Bridge - Two weeks ago, the Ministry of Finance (MOF) organized a non-deal roadshow for the Vietnam’s $3 billion international bond issuance campaign, scheduled to be launched in 2016.

Finance Ministry attempts to raise taxes as budget face shortfall

VietNamNet Bridge - The receipts from tax collection are increasing steadily year after year, but are never enough to cover expenses. Experts have warned that higher taxes and fees will burden people and businesses.

Government asked to stop giving preferences to oil & gas companies

After asking for the government’s help to ensure sales for oil refineries, the national oil & gas group PetroVietnam has once again sought the government’s support for the sale of Polyester Dinh Vu’s (PV Tex) products.

Will revenue from oil be reserved for descendants?

VietNamNet Bridge - Government officials say it’s the right time to seriously think about putting aside revenue from oil for descendants. 

Government rushes to borrow money for spending

VietNamNet Bridge - The government plans to borrow VND116 trillion this year to cover ispending, as a report to the National Assembly shows a budget deficit.

Guarantees for loans to be shouldered by banks, not government

VietNamNet Bridge - The government plans to transfer its burden of acting as a guarantor for loans to commercial banks in an effort to better control public debt.

“Flappy Bird is still a life achievement to me”: Nguyen Ha Dong

VietNamNet Bridge - Two years have elapsed since Nguyen Ha Dong roused the world gamer community with his Flappy Bird. But the name Nguyen Ha Dong has always been hot.

Poor provinces request more ODA

About $15.5 billion worth of preferential loans within the framework of official development assistance (ODA) have been allocated to localities in the last 10 years. 

What can Vietnam expect from Toyota’s localization program?

Experts said that Vietnam can take full advantage of Japanese auto manufacturers’ support and Vietnamese businesses could, as a result, become second-class car part suppliers to Toyota and other foreign-invested enterprises (FIEs).

University management tightened after long period of expansion

VietNamNet Bridge - The network of universities in Vietnam, which has expanded in recent years, will shrink as the Ministry of Education and Training (MOET) has decided to tighten control over the establishment of universities.

Ship owners: kings into beggars

“In the old days, ship owners were kings. Now, they are beggars,” a representative of VISABA (Vietnam Ship Agent and Brokers Association) said, speaking about the plunge in bulk sea transport charges.

Vietnamese are spending less on laptops

VietNamNet Bridge - The sale of high-end laptops has dropped while low-cost laptops priced at below VND10 million account for nearly 50 percent of the market.

MOF plans heavier taxation, aims at big businesses

VietNamNet Bridge - Within the last several months, plans on raising tax rates have been designed. However, businesses have been reassured that heavier taxation is aimed at big corporations.

How will the stock market perform in 2016?

VietNamNet Bridge - Experts believe that the most important factor that may have a negative impact on the stock market is the exchange rate fluctuation.

SOE debts may be a threat to VN financial security

The government has denied that acting as a guarantor for enterprises to borrow capital would threaten the nation’s financial security, saying that the involved parties have to follow strict procedures to avoid risks.

TPP will be ‘light at the end of tunnel’ for Vietnam’s automobile industry: expert

VietNamNet Bridge - The Trans Pacific Partnership Agreement (TPP) brings a ray of hope to the Vietnam’s automobile industry.

Finance Ministry delays international bond issuance plan

VietNamNet Bridge - The Ministry of Finance (MOF) still has not made a decision on the time to issue $3  billion worth of government bonds in in the international market. A source said the plan may be delayed until 2016.