State budget collection from import-export falls nearly 17% in first 11 months
State budget collection from import-export falls nearly 17% in first 11 months
The State budget collection from import-export activities topped 335.1 trillion VND (13.8 billion USD) during January – November, or 78.9% of the estimate, marking a year-on-year decrease of 16.8%, the General Department of Vietnam Customs said on December 6.
The State budget collection from import-export activities during January- November falls nearly 17% year-on-year. (Photo: VNA)
Hanoi (VNA) – The State budget collection from import-export activities topped 335.1 trillion VND(13.8 billion USD) during January – November, or 78.9% of the estimate, marking ayear-on-year decrease of 16.8%, the General Department of Vietnam Customs saidon December 6.
The department blamed the fall to the global economic downturn with most of theeconomies worldwide experiencing a slower growth than expectations, militaryconflicts, fierce competition between powers, and increasing geopolitical instability and food security, as well as climate change.
Besides, domestic purchase power was on slow recovery, while production facedformidable challenges due to weak global demand, it said, adding theimport-export revenue in the 11-month period dropped 8.3% from the same timelast year to 619.17 billion USD.
As the National Assembly set the 2023 State budget collection target at 425trillion VND, the department carried out drastic and uniform measures to facilitatetrade, improve state management efficiency, and prevent budget revenue loss.
Detailed plans were sketched out to renovate and modernise the customs sectorin the year, it said, highlighting the department will continue joining handswith ministries and sectors to carry out the national one-door mechanismand the ASEAN one-door mechanism as well as facilitate trade within the bloc.
Additionally, it will sharpen focus on building a project on developing the ITsystem, and an action plan to implement the national one-door mechanism, whilepromoting logistics industry and facilitate trade during the 2022-2026period./.
Vietnam’s State budget collection in the first ten months of this year stood at 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of the estimate, and down 9.2% year-on-year, the Ministry of Finance reported.
The National Assembly (NA) on November 10 adopted a resolution on the state budget estimates for 2024, which targets next year’s state budget collection at over 1.7 quadrillion VND (nearly 69.8 billion USD).
The Ministry of Finance (MoF) has continued to submit to competent authorities and promulgate according to its authority policies on exemption, reduction and extension of taxes, fees and charges in the spirit of accompanying businesses and people to overcome difficulties to recover and develop the economy.
The vehicles will be deployed for mail and parcel delivery by Hanoi Post, marking another step in the strategic partnership between the two firms since 2021. With this batch, the total number of electric motorbikes Honda has supplied to Vietnam Post has reached 405, operating primarily in key cities such as Hanoi and Ho Chi Minh City.
With participation from major players representing countries such as Russia, China, Japan, India, Thailand, and Indonesia, Vietbuild 2025 is expected to present a wide range of environmentally friendly and innovative products and services, especially building materials, machinery, and interior and exterior decoration.
Bulgaria holds strengths in sectors that align well with Vietnam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.