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World Bank: 40% of Vietnamese businesses’ profits go to taxes

 VietNamNet Bridge - In 2014, on average, each Vietnamese firm spends 872 hours paying taxes and the tax costs account for 40.8% of profits, according to the World Bank’s (WB) annual report on the global business environment.

Vietnam vows to optimise use of World Bank loans

 Prime Minister Nguyen Tan Dung thanked the World Bank (WB) for its effective assistance to the development of Vietnam over the past years during his meeting with WB President Jim Yong Kim in Hanoi on July 17.

Political News Headlines 25/6

National Assembly’s seventh session concludes; Some 80,000 articles criticise China’s illegal oil rig placement; World Bank’s support, assistance to poverty fight praised; Vietnam, South Africa seek to boost defence ties

VN faces wild polio threat

The Ministry of Health has told local medical centres, institutes of hygiene and epidemiology and Pasteur Institutes throughout the country to take preventive measures against the wild polio virus which has spread globally.

HCM City wants to borrow $1.5 billion for transportation and flood prevention

 VietNamNet Bridge - To have enough capital to invest in traffic works and to prevent flooding in the next three years, Ho Chi Minh City has proposed borrowing $1.5 billion of soft loans from the World Bank.

Ending poverty needs more than growth, World Bank says

 Economic growth is "not enough" to end global poverty, the World Bank has said.It has urged developing countries to allocate more resources to their extreme poor, including through bigger welfare programmes.

WB: Vietnam yet to benefit from global recovery

 VietNamNet Bridge – While the global economy has seen recovery signs, Vietnam’s economic growth rate is expected to remain low in the coming years,

PM outlines revival plan for economy

 VietNamNet Bridge – Viet Nam will take some "drastic" medium and long-term measures to create a foundation for sustainable development, Prime Minister Nguyen Tan Dung said yesterday, Jan 23.

Vietnam, World Bank sign emission reductions pact

VietNamNet Bridge – Viet Nam will launch a carbon-finance programme that will help green the country's national electricity grid in a commercially sustainable manner.

UN, WB outline plans to mobilize financing for sustainable energy for all

The United Nations and the World Bank on Wednesday announced a concerted effort by governments, international agencies, civil society and the private sector to scale up financing to provide sustainable energy for all,

World Bank to fund Vietnam’s FIRST project

 VietNamNet Bridge – The World Bank (WB) will provide 100 million USD to help Vietnam implement the Fostering Innovation through Research, Science and Technology (FIRST) project which was inaugurated on November 7.

Tax administration tops the bribery list

VietNamNet Bridge – A report by the World Bank on October 31, revealed some of the sectors with highest corruption problems in Vietnam.

BUSINESS IN BRIEF 12/10

 Vingroup secures loan from international market; Ca Mau fishery sector moving towards sustainable exploitation; Dong Nai imports another 1,500 cows from Australia

WB bars its doors to a Vietnamese company

The World Bank has debarred Infra Thang Long JSC for its fraudulent practices relating to the development projects in East Asia. The defendant said it just “did not report the truth” while it did not deliberately cheat anyone.

Women in 15 nations need spouse's okay to work

 At least 15 countries give husbands the power to prevent their wives from working, the World Bank said in a report on gender equality in business.

24 anti-corruption initiatives awarded

VietNamNet Bridge – The Vietnam Anti-corruption Initiative Program 2013 (VACI 2013) on June 14 awarded the top 24 initiatives to support their implementation in the community.

BUSINESS IN BRIEF 4/6

 IDA Credits for better health care, R&D in Vietnam; Hanoi targets 8.5-9.45 pct growth in second half; Fuel traders petition ministry for another petrol price hike;  Local steelmakers call for action on anti dumping

Vietnam ranks ninth in the world for overseas remittances

VietNamNet Bridge - With $10 billion of overseas remittances in 2012, Vietnam is listed in the top 10 countries that attracted the highest overseas remittances in the world, according to the World Bank.

Nearly $60mil to protect environment in industrial zones

 VietNamNet Bridge – The Ministry of Planning and Investment has said that from now until 2018, environmental pollution will be improved through a US$58.85 million project

Poverty reduction on the back foot

 VietNamNet Bridge – Macro instability and external shocks have created new challenges to Vietnam’s poverty reduction achievements.