Vietnam Airlines currently focuses on domestic flights as the COVID-19 pandemic is still affecting travel worldwide. (Photo: Vietnam Airlines)
Hanoi (VNA) - TheMinistry of Finance (MoF) has proposed to cut environmental protection tax on jetfuel by 30 percent, from 3,000 VND to 2,100 VND per litre.
Thereduction is expected to help remove difficulties for the aviation industry dueto the serious impact of the COVID-19 pandemic.
The ministry is collecting ideasand contributions from ministries and sectors to theNational Assembly Standing Committee’s draft resolution on environmentalprotection tax on jet fuel.
Theministry calculated that with such a reduction, the State budget revenue will decrease 87.33 billion VND (3.75 million USD) per month. However, the cut will help airtransport businesses ease the financial burden and maintain business operationsas the COVID-19 pandemic is still serious and unpredictable worldwide.
Thefinance ministry asked ministries, sectors, localities and agencies to sendtheir comments before June 10, 2020. This resolution is expected to beeffective until the end of this year./.
Increasing ceiling rates for airfares would bring more opportunities for local aviation firms to have flexible and suitable price policies in the domestic aviation market.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vietnam Airlines currently focuses on domestic flights as the COVID-19 pandemic is still affecting travel worldwide. (Photo: Vietnam Airlines) 
