• Wed. Apr 17th, 2024

Harnessing the Potential of Nghe An: How the Ministry of Planning and Investment is Fostering Economic Growth and Prosperity through Sustainable Development Policies

BySamantha Jones

Apr 3, 2024
Nghe An aims to keep 600 billion VND in tax revenue from hydropower annually

Nghe An, located in central Vietnam, is home to a significant number of hydroelectric plants that play a crucial role in ensuring electricity supply for the country. However, these plants also have a significant impact on the environment and people’s lives, especially during the rainy season. In response to this challenge, the Ministry of Planning and Investment has proposed that Nghe An retain about 600 billion VND in tax revenue from 22 hydroelectric plants to develop infrastructure and society in the difficult western areas.

The Ministry of Justice is currently evaluating a draft Resolution of the National Assembly which aims to pilot specific mechanisms and policies for the development of Nghe An province. This move is aimed at promoting socio-economic development in the region while minimizing the negative impacts of hydroelectric plants on local communities and ecosystems.

The proposal by the Ministry of Planning and Investment highlights Nghe An’s potential for economic growth and prosperity through investments in infrastructure, environmental management, and economic efficiency. As part of this plan, the province is also proposed to retain tax revenue from hydroelectric plants to support development in the area. Additionally, the ministry has suggested preferential policies for marine economic development in Nghe An, including issuing licenses for aquaculture projects in the sea area within 6 nautical miles from the shore along with tax exemptions and reductions for investors in seafood projects.

Nghe An has vast land resources and a large population, making it an ideal location for economic development. By implementing these proposed policies, the province aims to create a more sustainable future while improving its economic prospects through investments in infrastructure, environmental management, and economic efficiency. Ultimately, these efforts will contribute to overall growth and prosperity not just in Nghe An but throughout Vietnam as well.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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