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PHẢN ỨNG CHÍNH SÁCH TIỀN TỆ CỦA VIỆT NAM TRƯỚC BẤT ỔN KINH TẾ TOÀN CẦU VÀ TÁC ĐỘNG ĐẾN THỊ TRƯỜNG BẤT ĐỘNG SẢN
This study analyzes the impact of the State Bank of Vietnam’s monetary policy on the real estate market during the period 2019-2024 in the context of global economic instability. The study examines the response of the State Bank of Vietnam and the effectiveness of policy instruments such as interest rates, credit, and exchange rates through quantitative and qualitative methods. The results show the impact of policy management activities on the real estate market. The article also proposes monetary policy solutions to promote the sustainable development of the real estate market.
HIỆU ỨNG DẪN TRUYỀN GIAO DỊCH CỦA KHỐI ĐẦU TƯ NGOẠI TRÊN THỊ TRƯỜNG CHỨNG KHOÁN VIỆT NAM
This paper investigates the spillover effect of net trading value of foreign investors on net trading value of other investor groups in Vi-etnam stock market. The study employs Vector Autoregression (VAR) model, using weekly frequency data including net trading value of domestic investors, foreign investors, proprie-tary trading, VN-Index closing price and USD/VND exchange rate. The empirical re-sults show that net trading value of foreign in-vestors has an impact on net trading value of domestic investors but no impact on net trad-ing value of proprietary trading. The spillover effect of net trading value of foreign investors to net trading value of domestic investors is very low and no spillover to proprietary trading group...
CẢI THIỆN CƠ CẤU NHÀ ĐẦU TƯ, HƯỚNG TỚI PHÁT TRIỂN BỀN VỮNG THỊ TRƯỜNG CHỨNG KHOÁN VIỆT NAM
Investors are an essential component of the stock market; they play a distinct role in each stage of market development. Individual and foreign investors provide liquidity and play an important role in the early stages of develop-ment. Institutional investors bring sustainabil-ity by providing long-term and stable invest-ments. For the stock market to develop, it is necessary to ensure a balance in the scale and structure of investor types in the direction of increasing the proportion and efficiency of institutional investors, the knowledge and skills of individual investors, while attracting more foreign investors.
HOÀN THIỆN HỆ THỐNG AN SINH XÃ HỘI Ở VIỆT NAM TRONG BỐI CẢNH MỚI
Since the COVID-19 pandemic, Vietnam’s social security system has been facing a requirement for rapid transformation to contribute to economic recovery, development and enhance resilience to shocks. Vietnam’s social security system must also strive to transform to adapt to the impacts of the Fourth Industrial Revolution and the rapidly aging population trend. This article focuses on the prominent issues in the process of improving the social security system in our country to adapt to the requirements of the new economic and social context
MỐI QUAN HỆ GIỮA SỰ HÀI LÒNG CỦA NGƯỜI NỘP THUẾ VỚI CHẤT LƯỢNG DỊCH VỤ THUẾ TRỰC TUYẾN
Studying the relationship between taxpayer satisfaction with the quality of online tax services and state budget revenue in Vietnam is a topic of significant importance in the context of reforming the tax system towards a transparent and efficient public finance. This research helps tax authorities better understand the needs of taxpayers, thereby proposing policies and measures to improve the quality of online tax services aimed at taxpayer satisfaction, helping to stabilize and strengthen state budget revenue and minimize tax loss.
VAI TRÒ CỦA NGUỒN VỐN ODA VỚI CẢI CÁCH QUẢN LÝ TÀI CHÍNH CÔNG
Official Development Assistance (ODA) capital in recent years has contributed to helping the finance sector achieve significant accomplishments in the process of public financial management reform. Evaluating the role of ODA capital in the 10 years of implementing public financial management reform (from 2012 to 2022) in alignment with the implementation of the Financial Strategy to 2020 is necessary to draw lessons and propose appropriate solutions in the upcoming mobilization and utilization of this capital, contributing to serving the objectives of the finance sector to 2030.
TRỐN THUẾ, TRÁNH THUẾ VÀ TỐI ƯU HÓA CHI PHÍ THUẾ TRONG THUẾ THU NHẬP DOANH NGHIỆP
Businesses contribute to the state in the form of tax payment. How to make businesses understand and properly implement their tax obligations to the state is a matter of concern for the State and tax authorities. So how to optimize the amount of tax payable while still complying with the regulations of the tax authorities? Currently, the reality of tax evasion, tax avoidance, and tax planning is very popular and complicated. In practice, the boundary between these terms is not clear. owever, if not applied properly, we may violate the law. This article discusses the optimization of tax expenses and solutions to help businesses comply with Doanh nghiệp,current legal regulations on taxation.
GIẢI PHÁP THÚC ĐẨY ĐẦU TƯ XANH Ở VIỆT NAM
In the context of increasingly serious climate change and the growing urgency for sustain-able development, green investment has be-come an inevitable trend for Vietnam. Attract-ing investment into environmentally friendly projects not only contributes to reducing greenhouse gas emissions but also ensures long-term economic growth. This article focuses on analyzing the current situation and proposes several key groups of solutions to pro-mote green investment in Vietnam.
DIỄN BIẾN THỊ TRƯỜNG LÚA GẠO VIỆT NAM VÀ DỰ BÁO
In 2024, rice production in our country under-went under complex weather conditions but still strived to ensure domestic consumption demand and achieved a new record for rice exports. The domestic rice market has been quite dynamic, with domestic rice prices and average export rice prices both increasing compared to the previous year. In 2025, de-spite facing numerous challenges from global rice market fluctuations and the impact of cli-mate change, there is also an expectation that the rice industry will overcome temporary difficulties and effectively utilize opportunities to maintain Vietnam’s position in the interna-tional rice market
CHÍNH SÁCH TÀI CHÍNH GÓP PHẦN KÍCH THÍCH TIÊU DÙNG VÀ BÌNH ỔN GIÁ
Over the past years, in a global economic landscape facing numerous fluctuations and challenges, the Vietnam’s economy has also encountered various difficulties. The recovery of consumer demand has been slow, production and business in some industries and sectors are still facing numerous challenges. Coupled with inflationary pressure, exchange rate fluctuations, and rising energy prices, consumer purchasing power and confidence have been negatively affected. The Government and the National Assembly have proactively implemented flexible financial policy adjustments to support the economy, alleviate difficulties for businesses and people, and simultaneously stimulate aggregate demand and stabilize prices.
XU HƯỚNG LẠM PHÁT NĂM 2025 VÀ MỘT SỐ KHUYẾN NGHỊ
This research presents several findings and assessments of the inflation trend in Vietnam in 2025, based on the analysis of favorable and challenging economic factors in control-ling inflation. Inflation is forecasted to be con-trolled at a reasonable level, with the target set by the Government at 4.0%-4.5%, requiring significant efforts to maintain macroeconomic stability. However, there will be inflationary pressures exist from external factors such as international conflicts, trade competition, and climate change. The research proposes policy recommendations to control inflation, including flexible monetary policy management, market price control, effective coordination of policies, development of the capital market, promotion of domestic production and consumption, support for businesses, and strengthening information and communication efforts.
QUẢN LÝ, ĐIỀU HÀNH GIÁ VÀ NHỮNG VẤN ĐỀ ĐẶT RA
In 2025, price management and administration will face many challenges in the context of the world and domestic economies still facing difficulties and unpredictable fluctuations. To achieve the target of the Consumer Price Index (CPI) growth rate set by the National Assembly Resolution at 4.5-5%, while still ensuring support for economic growth, production and business, it is necessary to synchronously deploy solutions in price management and administration.
DỰ BÁO THỊ TRƯỜNG GIÁ CẢ Ở VIỆT NAM NĂM 2025
The Consumer Price Index (CPI) of Vietnam in 2024 made an average increase by 3.63% compared to the 2023. This was the highest average CPI in the last 10 years. In 2025, the market prices in Vietnam will continue to fluctuate and become dependent more on material prices on the global market. The CPI of Vietnam is forecast to increase by 3.6%-4.2% compared to the 2024.
KHẲNG ĐỊNH VAI TRÒ CỦA VIỆT NAM TRONG TIẾN TRÌNH HỢP TÁC TÀI CHÍNH KHU VỰC
In recent years, the global economy has continuously encountered fluctuations, but the spirit of regional solidarity and close cooperation has become an important driving force to overcome challenges,towards sustainable development. In this journey, the Ministry of Finance of Vietnam has made efforts to promote financial cooperation in important regional frameworks such as ASEAN, ASEAN+3, and subregional cooperation. The year 2024 not only marks the achievements that have been made, but also opens up new opportunities for Vietnam to continue to reach further, contributing to building a stable, developed, and prosperous financial region.
TĂNG CƯỜNG QUẢN LÝ NỢ CÔNG, GÓP PHẦN CẢI THIỆN XẾP HẠNG TÍN NHIỆM
In the context of globalization and international economic integration, public debt management is not merely a domestic financial issue but also a key indicator of macroeconomic stability and national governance capacity, influencing sovereign credit rating. Recognizing its significance, the Party and the State have issued important directives to guide public debt management and sovereign credit rating. To achieve the goal of stringent public debt control and ensure national financial security and stability, the Ministry of Finance will coordinate with relevant ministries, sectors, and local authorities to implement comprehensive measures aimed at improving the sovereign credit rating.
Trương Hùng Long - Cục trưởng Cục Quản lý nợ và Tài chính đối ngoại
TRIỂN VỌNG THỊ TRƯỜNG TÀI CHÍNH VIỆT NAM NĂM 2025
In 2024, the Vietnamese financial market demonstrated its ability to adapt flexibly to global economic fluctuations and internal challenges, contributing to stabilizing macro economic stability and towards completing the goals of the 2021-2025 period. 2025 is identified as a pivotal year, setting the stage for the 2026-2030 period through the continued improvement of institutions, the development of new financial services, and the enhancement of competitiveness. The article evaluates the results in 2024, analyzing the shortcomings, challenges, and identifying opportunities and trends, thereby proposing solutions for the market to fully exploit its potential, creating momentum for development in the new period.
Digital transformation is an essential solution to optimize management processes, enhance transparency, and improve the satisfaction of people and businesses. In the past years, the digital transformation has been strongly promoted by the tax industry throughstrengthening administrative reform, applying information technology, and modernizing tax management. However, the digital transformation process still poses multiple difficulties and challenges. Therefore, this article proposes solutions to promote the digital transformation process in the tax industry.
CHUYỂN ĐỔI SỐ VÀ HIỆN ĐẠI HÓA TOÀN DIỆN NGÀNH TÀI CHÍNH
In 2024, the finance industry has strived to effectively implement tasks and solutions towards comprehensive modernization of the finance industry, moving towards the digital finance era, forming a diverse and modern financial ecosystem in all areas, in which major results have been achieved.
ĐIỀU HÀNH CHÍNH SÁCH TIỀN TỆ GÓP PHẦN TĂNG TRƯỞNG KINH TẾ VÀ KIỂM SOÁT LẠM PHÁT
Following the Resolutions of the Party, the National Assembly, the Government, and the direction of the Prime Minister, from the beginning of 2024, the State Bank of Vietnam has issued directives on implementing key tasks of the banking sector, promoting digital transformation, ensuring information security in banking operations and the Action Program of the State Bank of Vietnam ac-cording to the direction of the Government, the Standing Committee of the Government, and thePrime Minister on banking operations. In particular, the consistent guiding principle for monetary policy management and banking operations is to proactively follow developments in the global and domestic economies to synchronously implement solutions to create favorable conditions for businesses and individuals to access bank credit, restore production and business, increase the absorption capacity of the economy, and timely meet the demand for credit capital, contributing to promoting growth with macroeconomic stability, inflation control, and the safety of the credit institution system.
CHÍNH SÁCH TÀI KHÓA THÚC ĐẨY TĂNG TRƯỞNG KINH TẾ NĂM 2025
In 2024, fiscal policy plays a crucial role in driving economic growth amid the absence of breakthrough changes in the growth model and various external challenges. In 2025, it is essential to continue implementing a proactive and flexible fiscal policy approach in short-term adjustments while adhering to budget balance principles and long-term financial discipline. to stimulate economic growth, Vietnam must actively and strategically leverage fiscal policy to enhance key growth drivers in the coming period.
HUY ĐỘNG NGUỒN LỰC CHO TĂNG TRƯỞNG XANH Ở VIỆT NAM
Along with the Green Growth Strategy and the Action Plan for Green Growth implementation, Vietnam has also developed a legal framework and institutions to encourage green growth. To achieve the goals of green growth, Vietnam needs to mobilize significant resources from different sectors of the economy. This article outlines the channels for mobilizing green finance in Vietnam and provide recommendations for the development of green finance to promote green growth in the coming period.
BỨC TRANH KINH TẾ VIỆT NAM NĂM 2024 VÀ DỰ BÁO NĂM 2025
With the determined effort to create institutional break throughs in organizational streamlining and removing bottlenecks in the economy, the Vietnam’s economy in 2024 has achieved impressive results and has been highly appreciated by international organizations. In 2025, although the global economy is forecast to face multiple challenges, the economy continues to recover at a high level but with uneven pace... Vietnam’s economic outlook is forecast to be positive, with better growth and macro stability... in 2025, the decisive year of the 5-year development strategy 2021-2025, to create a foundation for acceleration and breakthroughs in the following period.
BÀN VỀ QUY ĐỊNH ĐỐI TƯỢNG THU PHÍ BẢO VỆ MÔI TRƯỜNG ĐỐI VỚI NƯỚC THẢI
After over four years of implementing Decree No. 53/2020/ND-CP and assessing feedback from localities, it is positive that most areas have complied and achieved certain results, meeting the decree’s objectives. However, implementation has revealed various issues and obstacles, suggesting the need for policy adjustments. This article provides an assessment of the existing inadequacies and challenges related to identifying environmental protection fee payers for wastewater that have arisen in the legal enforcement process.
GIẢI PHÁP HOÀN THIỆN CHÍNH SÁCH THU PHÍ BẢO VỆ MÔI TRƯỜNG ĐỐI VỚI NƯỚC THẢI
In recent time, the Party and State have introduced various initiatives on environmental protection, including specific policies for environmental protection fees on wastewater. However, fee collection policies have revealed certain issues, such as the identification of feepayers, fee collection processes, fee rates, management and usage of fees, as well as fee declaration and payment procedures. This article provides recommendations toimprove the wastewater environmental protection fee policy, addressing current implementation challenges to ensure alignment with financial, budgetary, and environmental protection laws.
CHÍNH SÁCH THU PHÍ BẢO VỆ MÔI TRƯỜNG ĐỐI VỚI NƯỚC THẢI TẠI MỘT SỐ NƯỚC VÀ BÀI HỌC CHO VIỆT NAM
The wastewater environmental protection fee is a key economic tool used in many countries worldwide to mitigate environmental pollution. Like other environmental taxes or fees, it follows the polluter-pay principle, incentivizing businesses to reduce pollution while generating revenue for environmental protection activities. Studying wastewater protection fee policies in various countries is essential for drawing lessons hat can inform and improve Vietnam’s approach to wastewater environmental protection fees
ĐÁNH GIÁ MỨC THU PHÍ BẢO VỆ MÔI TRƯỜNG HIỆN HÀNH ĐỐI VỚI NƯỚC THẢI
The wastewater environmental protection fee is an economic tool used by the State to regulate the behavior of polluters by influencing their economic interests and to generate revenue for environmental protection activities. To encourage businesses to invest in wastewater treatment technologies that meet environmental standards before discharge, the fee structure must be set at an appropriate level. Therefore, it is essential to evaluate the current fee rates to propose suitable solutions for refining this policy.
QUY HOẠCH TỔNG THỂ HỆ THỐNG KHO GÓP PHẦN QUẢN LÝ, SỬ DỤNG HIỆU QUẢ NGUỒN LỰC DỰ TRỮ QUỐC GIA
The national reserve warehouse system plays a crucial role in the timely distribution of supplies for disaster response, firefighting, epidemic control, and the assurance of national defense, public security, food security, and energy security. A comprehensive plan for the national reserve warehouse system contributes to the efficient management and use of national reserves,enabling the State to respond effectively to urgent, unexpected situations. This approach follows the “four on-site” principle: on-site command, on-site personnel, on-site equipment and materials, and on-site logistics.
TĂNG CƯỜNG BẢO QUẢN CÁC MẶT HÀNG DỰ TRỮ QUỐC GIA
Recently, the General Department of National Reserves has intensified the application of technology in preserving national reserve items managed by the Ministry of Finance. This has ensured the safety, quantity, and quality of reserves, making them ready for distribution upon authorized decision. However, despite these achievements, certain challenges and limitations in preserving these reserves remain. Comprehensive solutions are needed to overcome these issues and enhance the quality of preservation according to national technical standards.
PHÁT HUY HIỆU QUẢ CÔNG TÁC THANH TRA, KIỂM TRA TRONG QUẢN LÝ, SỬ DỤNG HÀNG DỰ TRỮ QUỐC GIA
The General Department of National Reserves has recently collaborated with various ministries and sectors to conduct inspection activities in line with established programs and plans. Effective implementation of these inspection activities has timely identified violations, leading to recommendations for corrective actions by relevant entities. This approach has contributed to improving the effectiveness and efficiency of national reserve management.
XUẤT CẤP HÀNG DỰ TRỮ QUỐC GIA TRONG TÌNH HUỐNG ĐỘT XUẤT, CẤP BÁCH VÀ CÔNG TÁC ĐỐI NGOẠI
To stabilize people’s livelihoods, ensure national defense, foster socio-economic development, and support the foreign relations objectives of the Party and State, the National Reserve sector has proactively developed plans and measures to increase inventory of national reserves. These reserves are strategically stocked to meet distribution demands for disaster relief,pandemic response, Lunar New Year holiday support, reforestation projects, student assistance, and foreign aid. Moving forward, the National Reserve sector will implement comprehensive solutions to efficiently fulfill its role in national reserve distribution.