The Ministry of Finance is considering to put forward another proposal for further fuel duty cut, Minister Ho Duc Phoc told the 15th National Assembly during its third sitting in Hanoi on June 8 amid concerns over soaring fuel prices.
Minister of Finance Ho Duc Phoc responds to parliamentary questions in Hanoi on June 8. (Photo: VNA)
Hanoi (VNA) - ꧅The Ministry of Finance is consideringto put forward another proposal for further fuel duty cut, Minister Ho Duc Phoctold the 15th National Assembly during its third sitting in Hanoi on June 8amid concerns over soaring fuel prices.
Fuel prices in Vietnam are relatively higher than those ofneighbouring countries, Phoc said, and it is up to the NA and its StandingCommittee to decide whether fuel tariffs should be reduced. The NA agreedto lower the environment tax on fuel earlier this year, he noted.
A further tax cut must come along with a comprehensive course ofactions to prevent smuggling, the minister said, adding that fuel prices arenot only driven by taxes but also the supply-demand law.
In response to a question raised on how tosustainably develop the more transparent stock and bond markets, Phoc said hisministry will further intensify inspection of listed companies and securities firmsand coordinate with the State Bank of Vietnam to strengthen governance andsupervision of the issuance and purchase of corporate bonds and the provisionof related services.
He went on to note that the ministry will continue closelycollaborating with the police to investigate stock market manipulation casesand handle groundless rumors on the market while punishing officials for violatingrules.
It will also revise legal documents to improve thetransparency of information disclosure in order to protect the legitimaterights of stakeholders and tighten control of securities companies./.
The retail prices of oil and petrol continued to rise from May 11 following the latest adjustment by the Ministry of Industry and Trade and Ministry of Finance.
A major supplier in Laos has said that petrol supplies in this country may face “some gaps” after the government held an emergency meeting to address soaring prices and panic buying.
Malaysia’s inflation increased by 2.5 percent, driven by the rising food and fuel prices in 2021, the Department of Statistic Malaysia (DOSM) has said.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
Minister of Finance Ho Duc Phoc responds to parliamentary questions in Hanoi on June 8. (Photo: VNA)
