The environmental protection tax on plastic bags are expected to increase from VND30,000-50,000 to VND40,000-200,000 per kilo. The new tax rates would help change consumption habits and offer opportunities to biodegradable bag manufacturers.
Despite concerns about the potential "shock" to the industry, companies in the sector have shown resilience, maintaining financial stability and achieving notable business results.
A swift increase in special consumption tax over coming years is expected to exacerbate challenges for alcohol producers, potentially complicating their ability to devise viable business strategies.
Vietnam's Ministry of Finance is proposing a 100 per cent special consumption tax on beer and high-alcohol beverages by 2030 as part of efforts to curb excessive drinking and raise state revenues.
A prominent issue for many Vietnamese businesses concerns the proposed narrowing of the 0 per cent VAT rate for export services.
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Currency and interest rate fluctuations have had a detrimental impact on garment and textile exports.
According to Dragon Capital, the issuance of bonds this time is considered a necessary measure to moderate exchange rate fluctuations, rather than indicating a shift in monetary policy.
According to Savills' expert, global investors are paying more attention to ESG so the formulation of a comprehensive development strategy that incorporates sustainable environmental measures is imperative.
PRO Vietnam's representative stated it is urgent to evaluating projects and other pilot models on waste collection and recycling from now to 2024 to choose the right one to be replicated, aiming at implementing the EPR policy tool.
The adoption of environmental, social and governance (ESG) criteria in private enterprises is a driver of innovation and new opportunities, creating long-term value for business and society.
Developing a modern, standard waste collection, recycling and treatment system is key requirement to effectively implementing the EPR tool, helping businesses save on the cost.
The Environmental Protection Law 2020 introduces a new perspective on solid waste management as polluter-pays principle, reflected in policy instruments such as extended producer responsibility (EPR), waste charge by volume.
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According to Phan Tuan Hung, director of the Legal Department under the Ministry of Natural Resources and Environment, the contribution fee for the collection, recycling and treatment of hazardous waste is mandatory for the purpose of encouraging businesses to adjust their product design as well as their production and business methods toward an environmentally beneficial direction.
Source separation of waste is seen as core solution in the circular economy application, and has been applied by countries having high recycling rates.
