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Viglacera: Pioneering Footprints

 Viglacera (VGC), Hanoi – January 31, 2024. In the days leading up to the commemoration of its 50th anniversary (July 25, 1974 – July 25, 2024), Viglacera Corporation organized a series of plaque installation events at locations where the foundations for the construction materials industry were laid.

Starting with an event at the Thanh Tri Ceramic Factory and the Hanoi Ceramic Tile Factory – where the first sanitary porcelain products and square meters of ceramic tiles in Vietnam were produced – these “pioneering footprints” not only paved the way for Viglacera but also for the entire Vietnamese construction materials industry to move forward.


The plaque installation ceremony was held at Viglacera Thanh Tri – the first sanitary porcelain factory in Vietnam


The plaque installation ceremony was held at the first Ceramic Tile factory in Vietnam, – Now located at 1 Dai Lo Thang Long, Hanoi.

This activity also aimed to spread Viglacera’s internal culture to all employees on the occasion of the corporation’s half-century anniversary. The plaque installation events at facilities associated with Viglacera’s pioneering construction materials products, as well as those of Vietnam, filled all Viglacera leaders, officers, employees, and workers with excitement, pride, and emotion.


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New tax policies applicable from January 01, 2024

From January 01, 2024, several new policies including tax policies shall be applied.

1. VAT reduction policy to June 30, 2024
On December 28, 2023, the Government issued Decree No. 94/2023/ND-CP providing the value-added tax reduction policy, VAT tax reduction policy shall be applied to goods and service groups currently subject to the VAT rate of 10% (to 8%), except the following goods and service groups:
– Telecommunications, finance, banking, securities, insurance, real estate business, metals, precast metal products, mineral products (excluding coal exploitation), coke, refined petroleum, and chemical products.VAT reduction policy to June 30, 2024
– Goods and services liable to excise tax.
– Information technology
By Resolution No. 110/2023/QH15 dated November 29, 2023, the National Assembly approves the VAT reduction policy of 2%.
Accordingly, the Resolution prescribes that:
VAT on goods and services specified in Point a Section 1.1 Clause 1 Article 3 of the National Assembly’s Resolution No. 43/2022/QH15 on fiscal and monetary policies for supporting socio-economic recovery and development program is reduced by 2% from January 01, 2024, to June 30, 2024, inclusively.
Therefore, the VAT reduction policy shall be applied from January 01, 2024, to June 30, 2024.

2. Increase 50% environmental protection tax on petrol, oil, grease
Resolution No. 42/2023/UBTVQH15 takes effect on January 01 2024 applies the reduction of 50% of environmental protection tax rates applicable to petrol, gas, and grease from January 1, 2024, to the end of December 31, 2024, in comparison with the regulations provided in Resolution No. 579/2018/UBTVQH14.
The environmental protection tax on petrol, oil, grease
From January 01, 2025, the environmental protection tax on petrol, oil, and grease is implemented under the regulations prescribed in Section I, Clause 1, Article 1, Resolution No. 579/2018/UBTVQH14.

3. Formally impose the global minimum tax regulations
In accordance with Clause 1, Article 8 of Resolution No. 107/2023/QH15, Vietnam shall formally impose the global minimum tax regulations from the financial year 2024.
Constituent entities of multinational enterprise (MNE) Groups that earn an annual revenue of EUR 750 million or more as stated in the consolidated financial statements of the ultimate parent companies in at least two out of the four fiscal years preceding the fiscal year.
The minimum tax rate is 15%.

4. Deadline for the reduction of registration fee rates applicable to domestically manufactured and assembled automobiles
The Decree No. 41/2023/ND-CP prescribes registration fee rates for automobiles, trailers or semi-trailers pulled by automobiles and vehicles like domestically manufactured and assembled automobiles.
Deadline for the reduction of registration fee rates (Illustration)
From July 01, 2023, through December 31, 2023: The registration fee rates are equal to 50% of those prescribed in the Government’s Decree No. 10/2022/ND-CP of January 15, 2022, on the registration fee.
From January 1, 2024, onward: The registration fee rates shall further comply with the Government’s Decree No. 10/2022/ND-CP of January 15, 2022
Buyers of domestically manufactured and assembled automobiles do not apply to the reduction of registration fee rates.

Source: https://english.luatvietnam.vn

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Tuyen Quang – Phu Tho Expressway officially put into operation

The Tuyen Quang – Phu Tho expressway construction project, which connects with the Noi Bai – Lao Cai expressway, officially broke ground on February 23, 2021. To date, the project has been almost completed, and it is slated to be inaugurated on December 24, at least two years ahead of schedule.


Delegates cut the ribbon to inaugurate the Tuyen Quang – Phu Tho expressway

Tuyen Quang – Phu Tho expressway project connects with Noi Bai – Lao Cai expressway at IC9 intersection in Phu Tho town, Phu Tho province and the starting point at Luong Vuong commune (Tuyen Quang city). The project is invested in the form of public investment, with a total length of 40.2 km (11.3 km in Tuyen Quang province; 28.9 km in Phu Tho province); total investment of 3,753 billion VND; scale of 4 lanes; Operating speed 90Km/h.


Tuyen Quang – Phu Tho Expressway opens to traffic – Photo: Tuoi Tre online

Leaders from the Ministry of Transport provided an overview of four projects during the occasion. The Central Committee and Politburo’s resolution on socioeconomic development orientations, which ensures national defense and security in the Northern Midlands, Mountains and the Mekong Delta, is what led to the completion and implementation of the projects. Initiatives have a critical role in fostering connections, providing impetus for the advancement of interregional economies, and establishing avenues for future growth.

Source: https://tuyenquang.gov.vn

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Launch the 5,800 billion airport project in the key location of Central Vietnam

On December 15, 2023, the People’s Committee of Quang Tri province held the Launching Ceremony of the Quang Tri Airport project, marking the official implementation of the project to complete the next piece of the puzzle in the province’s transportation network.


Delegates pressed the button to start the Quang Tri Airport project

The Quang Tri Airport (CHK) construction investment project was approved by the Prime Minister with a construction investment policy according to the public-private partnership (PPP) method in Decision No. 2148/QD-TTg dated December 20, 2021 with the goal of meeting the increasing demand for air transport, contributing to promoting political, economic and social development; at the same time, ensuring high mobility in defense, as well as in rescue work; ensure national defense – security of the Central region in general and of Quang Tri province in particular; in accordance with transportation development planning and orientation.


Perspective of Quang Tri airport

This is a key location in the Central region, connecting North-South traffic to National Highway 1 – Ho Chi Minh Road and North-South traffic to the East – West Economic Corridor axis through Highway 9 and Lao Bao international border gate, which is an important gateway to attract passengers to the Mekong sub-region into Central Vietnam.

The project has a scale of over 265 hectares with a total investment in 2 phases of 5,833.9 billion VND; invested and built to meet the CHK standard of level 4C (according to the standard code of the International Civil Aviation Organization – ICAO), capable of developing and operating Code E aircraft, allowing the operation of irregular international flights according to the planning in Decision No. 648/QD-TTg dated June 7, 2023 of the Prime Minister (when needed) and level II military airport, meeting the needs of operating up to 5 million passengers/year and 25,500 tons of goods/year.

Source: https://cafef.vn/

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