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

Harnessing Sustainable Development for Nghe An’s Challenges: Proposals for Retaining Hydroelectric Plant Tax Revenue and Promoting Marine Economic Development

The government is proposing to retain approximately 600 billion VND in tax revenue from 22 hydroelectric plants located in Nghe An province. This revenue will be used to develop infrastructure and improve the lives of people in the difficult western areas, which have poor transportation infrastructure, incomplete schools and hospitals, and some villages that still lack electricity for daily life and production.

The Ministry of Justice is currently evaluating a draft Resolution of the National Assembly that aims to pilot specific mechanisms and policies for the development of Nghe An province. These plants play a crucial role in ensuring electricity supply for the country but also have a significant impact on the environment and people’s lives, especially during the rainy season.

The Ministry of Planning and Investment believes that Nghe An needs to invest in infrastructure, offset the impacts of hydroelectric plants, and promote socio-economic development in the region. To achieve this goal, the province is proposed to retain tax revenue from hydroelectric plants to support development in the area.

In addition to this proposal for hydroelectric plants, the Ministry of Planning and Investment has also suggested preferential policies for marine economic development in Nghe An. This includes 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 holds significant potential for economic development due to its vast area and large population. By implementing these proposed policies, the province aims to improve its infrastructure, environmental management, and economic efficiency, ultimately contributing to the overall growth and prosperity of the region.

Overall, these proposals reflect a commitment by both local authorities and national policymakers to ensure sustainable development in challenging regions like Nghe An while minimizing negative impacts on people’s lives and natural resources.

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