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

Nghe An: Harnessing the Power of Water and Sea for Economic Growth

The Ministry of Planning and Investment has suggested that Nghe An retain approximately 600 billion VND in tax revenue from 22 hydroelectric plants in the western region of the province. This revenue will be used to develop infrastructure and improve the socio-economic conditions of the difficult areas in the province.

Nghe An is home to many small hydroelectric plants, but this region faces challenges due to poor transportation infrastructure. Schools and hospitals are slow to complete due to a lack of capital, and some villages still lack electricity for daily life and production. The Ministry of Planning and Investment has emphasized the need for investment in infrastructure to offset the impact of these hydroelectric plants and promote economic development in the region.

In addition to the proposal to retain tax revenue from hydroelectric plants, the Ministry of Planning and Investment has also suggested preferential policies for marine economic development in Nghe An. This includes incentives for aquaculture projects at sea and measures to increase state management of environmental pollution in aquaculture.

Nghe An is one of the most populous provinces in Vietnam, with significant potential for economic growth. The province has exceeded its budget revenue targets in recent years and has attracted substantial foreign direct investment. By implementing these proposed policies, Nghe An aims to improve its infrastructure, support economic growth, and enhance the quality of life for its residents.

The Ministry of Justice is currently evaluating a draft resolution on piloting specific mechanisms and policies for the development of Nghe An.

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