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

Nghe An’s Development: The Power of Hydroelectric Revenue and the Future of Marine Economic Projects

The Ministry of Planning and Investment has presented a proposal 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 socio-economic conditions of the region’s difficult western areas. These areas are characterized by poor transportation infrastructure, incomplete schools and hospitals, and some villages still lacking 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. The ministry believes that the province needs to invest in infrastructure, offset the impacts of hydroelectric plants, and promote socio-economic development in the region. In addition to this proposal, 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 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.

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