Import taxes cut on chicken, pork proposed. (Photo: baodautu.vn)
According to Vietnam News Agency, the Ministry of Finance has recently sent Dispatch No.14813/BTC-CST to competent ministries and sectors, suggesting cutting import on chicken and pork products.
Accordingly, import tariff on frozen chicken parts in the sub-category 2207.14 is suggested to be cut from 20 percent to 18 percent, which is equivalent to the duty reduction in the roadmap in the first year implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Chicken imports increased during April and June as compared to the same time in 2018 as consumers sought alternatives to pork following the outbreak of the African swine fever (ASF), according to the Ministry of Agriculture and Rural Development.
Regarding fresh or frozen pork (except for whole or half carcasses, ham, butt and picnic shoulder), the Ministry recommended a tariff reduction from 25 percent to 22 percent.
Tours to Son Doong cave set to continue through 2030
Oxalis Adventure Tours Company will continue to operate the tourism product “Conquering Son Doong cave” until the end of 2030.
The Quang Binh provincial People’s Committee has issued Document 2019/UBND-KGVX agreeing to allow the Oxalis Adventure Tours Company to continue operating tours to the world’s largest cave.
Son Doong cave. (Photo: baodautu.vn)
Specifically, it allowed the company to continue to be the unique unit running the tours, in accordance with the contract with the Management Board of Phong Nha - Ke Bang National Park from 2015 to now.
As known, Son Doong is an attractive destination to both domestic and foreign tourists. However, not everyone who wants to explore Son Doong to be able join the tours.
Currently, a tour of four days and three nights is priced USD3,000, excluding air ticket, clothes and supplies. With this, total charge for the tour can reach USD5,000-USD6,000 a person. Explorers must register and wait for a long time, even one year, to have the chance to join this expensive tour.
In 2019, the “Conquering Son Doong cave” tour in Tan Trach commune, Bo Trach district, attracted 92 tours with 805 tourists from around the world, grossing revenue of more than VND55 billion.
Remittances to HCM city expected to exceed USD5 billion in 2019
Vietnamese overseas remittances to the southern city reached USD4.3 billion as of the end of November 2019, according to Deputy Director of the State Bank of Vietnam's Ho Chi Minh city branch, Nguyen Hoang Minh.
Photo for illustration
The flow is forecast to increase in the last month of the year. Accordingly, remittances to the city are expected to reach some USD5.3 billion in 2019, a year-on-year surge of 9%, despite unfavourable global financial and monetary markets.
The flow of money to Vietnam each year is usually higher than that of the previous year. Ho Chi Minh city always takes the lead among remittances receivers. The fields which attract the most are production, business, and real estate.
Currently, the remittances mainly come from the US, Europe, Australia, the Republic of Korea and Japan.
The flow of remittances not only contributes to supporting the city’s economic development, but also is a stable supply of foreign currency. In 2019, although the State Bank of Vietnam continuously adjusted the exchange rate, the stable source of remittances helped export activities, tourism and FDI grow well; contributing to stabilizing the hub’s foreign currency source.
According to the World Bank, Vietnam is now the world’s 9th biggest remittances receiver. In 2019, it is expected to receive USD16.7 billion from Vietnamese expatriates (equivalent to 6.4% of GDP), a year-on-year rise of USD700 million./.