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

The Ministry of Planning and Investment is proposing that Nghe An retain approximately 600 billion VND in tax revenue from 22 hydroelectric plants to invest in infrastructure and society in the difficult western areas. These areas have poor transportation infrastructure, incomplete schools and hospitals, and some villages still lack electricity for daily life and production.

The Ministry of Justice is currently evaluating a draft Resolution of the National Assembly which aims to pilot specific mechanisms and policies for the development of Nghe An province, where most hydroelectric plants are located. 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.

As part of this plan, Nghe An is proposed to retain tax revenue from hydroelectric plants to support development in the area. Additionally, the Ministry of Planning and Investment has 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.

By Samantha Johnson

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