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Nghe An aims to keep 600 billion VND of tax revenue from hydropower annually

Byeditor

Apr 3, 2024

The Ministry of Planning and Investment has proposed that Nghe An retain about 600 billion VND in tax revenue from 22 hydroelectric plants in order to develop infrastructure and society in the difficult western areas of the province. The Ministry of Justice is currently evaluating the draft Resolution of the National Assembly on piloting specific mechanisms and policies for the development of Nghe An.

Nghe An is home to 22 hydroelectric plants in the western region, mostly small plants, but this area faces challenges due to poor transportation infrastructure. Schools and hospitals are slow to complete due to lack of capital, and some villages still lack electricity for daily life and production. The Ministry of Planning and Investment has highlighted the need for investment in infrastructure to offset the impact of the hydroelectric plants and promote socio-economic development in the region.

In addition to the proposal to retain tax revenue from hydroelectric plants, the Ministry of Planning and Investment has also suggested preferential policies for marine economic development in Nghe An. This includes incentives for aquaculture projects at sea and measures to increase state management of environmental pollution in aquaculture.

Nghe An is the fourth most populous province in Vietnam, with significant potential for economic development. The province has exceeded its budget revenue targets in recent years and has attracted substantial foreign direct investment. By implementing the proposed policies, Nghe An aims to improve infrastructure, support economic growth, and enhance the quality of life for its residents.

By editor

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