Explain why revenues are recorded as credits and expenses as debits

People doing blood tests at a medical centre in Hà Nội. Deputy PM Vũ Đức Đam has urged the city to put in place an individual medical record system for residents. — Photo baotintuc.vn Viet Nam News HÀ NỘI — Deputy Prime Minister Vũ Đức Đam on Thursday asked Hà Nội to put in place an individual medical records system for local residents as soon as possible. This will help provide better healthcare to people as well as improve the efficiency of clinics at ward and commune levels, Đam said during a visit to Tây Mỗ Ward Health Centre in Nam Từ Liêm District. Studies show that many ward- and commune-level clinics have good facilities, but medical practitioners there don’t have much work, which affects their incomes and the quality of medical expertise available at the clinics. “Currently, only four out of 10 people with health insurance come for health checks at grassroots-level clinics. In rural areas, many people never do check-ups when they are fine and only come to … [Read more...] about Create individual medical records system for Hanoians: Deputy PM Đam

Vietnam urged to utilize higher credit rating By Vu Dung A female laborer works at a foreign-invested enterprise in Vietnam. Vietnam should take advantage of opportunities ushered in by its higher credit rating - PHOTO: THUY DUNG HANOI – Vietnam should take steps to take advantage of opportunities ushered in by its higher credit rating, which has been raised by the U.S.-based credit ratings agency Standard & Poor’s. Standard & Poor’s has upped its long-term sovereign credit rating on Vietnam to “BB” from the previous “BB-” and has confirmed the country’s short-term rating at “B.” According to Standard & Poor’s, Vietnam has a low-income but fast-growing and diversified economy, with gross domestic product growth averaging 6.2% annually since 2012. The Government’s socioeconomic development plans provide useful policy anchors that have improved macroeconomic stability and inflation management in recent years. Phung Xuan Minh, chairman of Sai Gon Phat … [Read more...] about Vietnam urged to utilize higher credit rating

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple earned $111.4 billion in revenue in the first quarter of 2021, blasting past the $100 billion barrier for the first time on double-digit growth across all product categories. Announced before the company's usual conference call with analysts, Apple's revenue of $111.4 billion for the quarter ending December 2020 represents growth of 21% on the $91.8 billion seen one year prior , itself a record-setting set of results. Earnings per share is set at $1.68, comparatively higher than the $4.99 seen in Q1 2020 before the four-way stock split . The gross margin of $44.3 billion is up from Q1 2020's $35.2 billion, while operating expenses are up/down year-on-year to $10.8 billion from $9.6 billion. Net profit is $28.8 billion, an improvement from $22.2 billion one … [Read more...] about Apple’s $111.4B Q1 shatters quarterly record with massive growth across all categories

Tollgates earn VND1 trillion per month By Le Anh Vehicles at a BOT toll station on the HCMC-Trung Luong Expressway. Tollgates operated by BOT investors generated an average of VND1 trillion per month in revenue in the first quarter of 2019 – PHOTO: LE ANH HCMC - The Directorate for Roads of Vietnam has announced the revenues generated by build-operate-transfer (BOT) road projects nationwide, stating that these projects earned over VND1 trillion per month on average. There are 57 BOT projects collecting toll fees in the country, with total revenue in the first quarter reaching over VND3.3 trillion. In January, these projects earned over VND1.2 trillion, while revenue recorded in February and March were VND989 billion and VND1.1 trillion, respectively. Even though the BOT projects reaped high revenues, many BOT operators have lamented the investment losses. Aside from 27 projects that earned a higher revenue in 2018 than forecast in their financial plans, the … [Read more...] about Tollgates earn VND1 trillion per month

Banks report hefty profits in 2018 The Saigon Times Daily An unidentified person checks Vietnamese banknotes at a bank – PHOTO: THANH HOA HCMC – Many Vietnamese banks have reported significant profits of trillions of Vietnam dong for last year, though local banks’ credit growth has been harnessed at a record low for the past four years, local newspaper Nguoi Lao Dong Online reported. Vietnam International Bank (VIB) recently released its financial report for 2018, posting consolidated pretax profit of VND2.7 trillion, which exceeds its target and almost doubles the figure of the previous year. VIB recorded a profit hike of nearly 100% for the second consecutive year. According to a VIB representative, the bank’s net interest margin and net revenues from other services picked up by 40% and 92%, respectively, resulting in the surging profit. The bank reaped these positive results as it had boosted the provisions of banking services and diversified incomes. The … [Read more...] about Banks report hefty profits in 2018

PM targets 6.5% growth in speech to lawmakers (21-10-2009) The sixth session of the 12th National Assembly gathers yesterday in Ha Noi. — VNA/VNS Photo Tri Dung HA NOI — Viet Nam would strive to reach a GDP growth rate of 6.5 per cent in 2010, Prime Minister Nguyen Tan Dung said at the sixth session of the 12th National Assembly meeting that opened here yesterday. Growth rate for 2009, a difficult year, was expected to hit 5.2 per cent by year’s end. On the 2010 socio-economic development plan, Dung said State budget revenue was expected to reach VND356.4 trillion (US$19.9 billion). The country targeted to promote junior secondary education in all 63 cities and provinces, create 1.6 million new jobs and reduce the number of poor households to under 10 per cent, he said. To achieve its aims, the Government would improve the investment and business environment, promote the development of production and services, continue a flexible monetary policy to stabilise … [Read more...] about PM targets 6.5% growth in speech to lawmakers

An engineer checks a train engine at the Hà Nội Railway Engine Company. — VNA/VNS Photo Hoàng Hùng Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc, chairing the Government’s regular July meeting in Hà Nội on Thursday, asked officials to take measures to ensure their sectors and agencies reach this year’s growth targets. PM Phúc noted a positive socio-economic trend in July and the first seven months of 2017, saying that inflation and credit growth continue to be controlled, while export and import revenues grew almost 19 per cent. About 73,000 new businesses were established and more than 17,000 others resumed operations between January and July. According to the Ministry of Planning and Investment, the consumer price index in July was up 0.11 per cent from the previous month. Credit growth was up 8.92 per cent from December 2016. Việt Nam welcomed 7.24 million international visitors in the past seven months, a year-on-year increase of 28.8 per cent. … [Read more...] about PM urges ’drastic’ measures to ensure growth target

Vietnam’s 2019 growth will slow - WB By Thanh Thom Workers manufacture auto parts at the Keihin Vietnam Company. The industrial and construction sectors expanded 8.5% in 2018, driven by growth of a robust 13% in manufacturing which benefited from healthy external demand – PHOTO: VNA HCMC – The World Bank (WB) has projected Vietnam’s gross domestic product (GDP) growth will slow to 6.6% this year, driven by credit tightening, slower consumption and weaker external demand. The global lender said in its latest East Asia and Pacific Economic Update, called “Managing Headwinds,” that Vietnam’s economy will continue to show solid strength, supported by robust domestic demand and export-oriented manufacturing. Following 6.8% growth in 2017, preliminary data indicates that GDP growth accelerated to 7.1% in 2018, underpinned by a broad-based pickup in economic activity. Growth in the agriculture, forestry and fishery sectors accelerated to 3.5% from 2.8% in 2017. The … [Read more...] about Vietnam’s 2019 growth will slow – WB

Tax tools should be used effectively By Lac Duy Vietnam ranks fourth in the world in the amount of plastic waste dumped into the ocean with 1.8 million tons a year- PHOTO: THANH HOA The battle against single-use plastic products has not yet delivered any satisfactory results. Solutions are plenty, but what is lacking is their enforcement. The fact that the authorities are not aggressive enough to persist with the appropriate management tools may make winning this battle a mission impossible. To deal with environmental issues in general and the current crisis of plastic bags in particular, countries around the world take various approaches which however may be classified into three groups of solutions: (i) prohibition, restriction, technical barriers; (ii) taxes and fees, subsidies, credit, infrastructure investment; (iii) advocacy. Depending on the socio-economic conditions of each country, one or several solutions may be adopted at the same time as long as it is … [Read more...] about Tax tools should be used effectively

Fish is carried from boats at Cà Ná Fishing Port in Thuận Nam District, south central province of Ninh Thuận. — VNA/VNS Photo Công Thử Viet Nam News HÀ NỘI — Việt Nam is reaping the benefits of a national strategy laid out 10 years ago to garner riches from the country’s long coastline, over 3,000 islands and abundant water areas three times the size of its land mass. In 2007, the 10th Party Central Committee ratified the Việt Nam Maritime Strategy towards 2020. The strategy, and the myriad guidelines, policies and generous investment that have followed it have turbo-charged Việt Nam ’s coastal economy, which includes tourism, fisheries, oil and gas, and other sectors reliant on the sea. However, a wide range of challenges stands in the way of the country reaching its primary targets: ensuring the sea-based economy accounts for 53-55 per cent of the country’s gross domestic product (GDP) and per capita income in coastal areas doubles the average of the whole country … [Read more...] about 10 years on, Việt Nam’s vision of strong sea-based economy faces rows of roadblocks