Growth of Vietnam’s GDP and Infrastructure Investment
The Government of Viet Nam’s 2006-2010 Socio-Economic Development Plan (SEDP) established the overarching goal of reducing poverty incidence by 10%-11% by 2010. The government has made substantial progress in this area, bringing down the share of the population below the poverty line from 58% in 1993 to 15% in 2008. Despite the global economic crisis, the country boasted an average annual growth rate of 6.6% during 2007- 2010.
1. Infrastructure Constraints and Development in Vietnam Current situation Understanding the importance of infrastructure development, over the years, Vietnam government has spent large amounts of capital investment in this area. In the period 2001-2010, the proportion of social capital for nearly 40% of GDP. Although being prioritized for funding, but the mechanism of fiscal policy in developing infrastructure remains inadequate. The state budget was scattered and ineffective; no mechanism to encourage private sector investment. This is the difficulty that many countries, including Vietnam, have resolved to work towards building a synchronous infrastructure system modernization.
Vietnam government’s current major economic policy challenge is containing inflation and stabilizing the exchange rate while promoting economic growth. In terms of fiscal policy, the budget deficit (9% of GDP in 2009) is expected to remain relatively high for 2010-2011 as the government continues to spend heavily on infrastructure and social welfare programs. In January 2010, the government raised $1 billion through an international sovereign bond issue (10-year tenor) with a spread of 333 basis points over the 10 – year benchmark United States Treasury. This was the first overseas bond since 2005. Meanwhile, the government continues to seek substantial concessional financing from international donors. Viet Nam received $2.7 billion in official development assistance (ODA) in 2008 and an estimated total of $3.3 billion in 2009. Projected ODA levels for 2010 and 2011 are estimated at $3.2 billion for each year.
Theo Diá»…n Ä‘àn kinh táº¿ tháº¿ giá»›i, Viá»‡t Nam hiá»‡n xáº¿p háº¡ng cuá»‘i cùng trong chá»‰ sá»‘ nÄƒng lá»±c cáº¡nh tranh vá» cháº¥t lÆ°á»£ng cÆ¡ sá»Ÿ háº¡ táºng so vá»›i các nÆ°á»›c lân cáºn. Theo tính toán, chi phí váºn chuyá»ƒn, háºu cáºn liên quan Ä‘áº¿n sá» dá»¥ng cÆ¡ sá»Ÿ háº¡ táºng chiáº¿m 9,5% GDP á»Ÿ Má»¹, 11% á»Ÿ Nháºt, 21% á»Ÿ Trung Quá»‘c và tá»›i 25% á»Ÿ Viá»‡t Nam. Äá»“ng thá»i do thiáº¿u cÆ¡ sá»Ÿ háº¡ táºng, báº¿n cáº£ng phù há»£p mà má»-i nÄƒm Viá»‡tNam còn pháº£i tiêu tá»‘n thêm khoáº£ng 1,7 tá»· USD chi phí háºu cáºn do các công ty trong nÆ°á»›c pháº£i trung chuyá»ƒn hàng hóa qua Há»“ng Kông và Singapore.
Nhu cáºu cÆ¡ sá»Ÿ háº¡ táºng Viá»‡t Nam là ráº¥t lá»›n; trong Ä‘ó nhu cáºu vá» Ä‘iá»‡n nÄƒng tiáº¿p tá»¥c tÄƒng trên 15% má»™t nÄƒm và sáº½ cáºn khoáº£ng 60 tá»· USD vào nÄƒm 2025. Nhu cáºu Ä‘áºu tÆ° vá» viá»…n thông, báº¿n cáº£ng, sân bay, Ä‘Æ°á»ng bá»™, Ä‘Æ°á»ng sáº¯t và váºn táº£i Ä‘Æ°á»ng không cÅ©ng ráº¥t lá»›n. Bá»™ KH
Critical analysis of the uk tax system
John S. Caldwell said “The point to remember is what government gives it must first take away1.” Taxes transfer spending power from the taxpayer to the government. Taxation exceeds the totals that can be increased by resorting to the printing press, charging consumers directly, or borrowing. The government gathers money to give on public services, such as education, health and the social security system by tax.
The main UK taxes are presented and categorized and the principal sources of tax law are explained. It is consisted of a number of different taxes, some of which are direct taxes and other is indirect taxes. The fundamental rules of sources of tax law are laid down in Acts of Parliament. In modern Britain taxation has become completely embedded in the society. Without taxation the country would cease to operate.
Over the years the UK taxation system has become extremely complicated. This has developed a system which is strangled by red tape and can be very confusing for both personal taxation and business taxation.
The coalition government has planned a number of very good received ideas with regards to the UK taxation system although as yet no final decisions have been made. Any move to intelligible the current taxation system should help with investment, both internally and externally, in the UK to hopefully create a good situation for all involved.
UK tax law must accede with the regulations and directives of the European Union. EU member’s states must provide members of other EU states freedom of establishment and not tax them at higher rates than their own nationals. In additionally, UK tax law must be agreeable with the European Convention on Human Rights and the Human Rights Act 1998.
The UK government repair the UK taxation system in a move which will be welcomed by the British residents and businesses. As a whole, the UK has a low-tax, low-allowance system of taxation. For this reason, it estimated the most perfect tax system that could be conceived. Besides, I will analyze this perception with the following basic information.
1 taken by:
The income tax system of the United Kingdom has cultivated over many years during which it has been clarified and outlined by amending legislation and by case law. If you live in the UK, you will have to pay income tax for your wages, if you are employed, the profits from your business if you’re self-employed, jobseeker’s allowance, retirement pensions, income from property, building and bank society interest and dividends on shares. Likewise, there are some exceptions for individuals like ambassadors and their foreign staff, members of visiting armed forces and officials of the United Nations.
This tax is collected by the government department known as HM Revenue