Investments

Vice Prime Minister Tran Luu Quang has signed Decision No. 752 on the separation of the National Power System Dispatch Center from the Vietnam Electricity Group (EVN) and the policy to establish the National Power and Electricity Market Operation Company, a single-member limited liability company, under the management of the State Capital Management Committee in enterprises.

As of July 22nd, the implementation of the environmental protection tax reduction is estimated to result in a decrease of approximately 19,792 billion VND in state budget revenue for the first seven months of 2024.

A host of economic policies, including the Land Law, Housing Law, and Real Estate Business Law, alongside various circulars from respective ministries, will come into force in August 2024.

The Vietnam Chamber of Commerce and Industry (VCCI) has submitted its recommendations to the Ministry of Industry and Trade regarding the draft decree on gasoline and oil trading. The VCCI's input is based on feedback from businesses and associations, aiming to contribute to the refinement of the draft decree.

According to Mr. Phan Van Mai, Chairman of Ho Chi Minh City, the city must disburse VND 10,000 billion each month for the remaining six months of this year. Even though the peak period for site clearance and compensation projects, as well as new projects, is in the fourth quarter, careful monitoring is essential to achieve the initial plan of a 95% disbursement rate.

The Indian billionaire, with a staggering net worth of $122 billion, plans to strengthen his collaboration with Vietnamese partners in two aviation ventures.

According to S&P Global, Vietnam's manufacturing sector maintained its solid growth trajectory in July, following an impressive performance in June. The surge in new orders prompted producers to ramp up their production levels, with the rate of expansion accelerating to near-record highs. Meanwhile, input costs and output charges continued to rise significantly, although inflation eased slightly compared to the previous month.

On Monday, July 31st, at the Government Headquarters, Deputy Prime Minister Tran Hong Ha received Mr. Yamada Takio, Advisor to the Ministry of Foreign Affairs and Ambassador in charge of the Asia Zero Emissions Community Initiative (AZEC) of the Government of Japan.

According to the Ho Chi Minh City Statistics Office, the construction of the Metro Line No. 1 has surpassed 98% completion and is on track to commence operations this year.

The People's Committee of Bac Ninh province has instructed its departments and sectors to strictly adhere to the conclusions outlined in the Official Dispatch No. 121, dated October 31, 2023, regarding addressing challenges and obstacles faced by Build-Transfer (BT) projects and corresponding investment ventures. The committee has also urged investors to conduct a comprehensive review and provide detailed reports on any difficulties or impediments they encounter. These reports will be used by the provincial authorities to assign specialized agencies to resolve these issues and ensure the timely progress of the projects.