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

The Ministry of Planning and Investment has proposed a plan to retain about 600 billion VND in tax revenue from 22 hydroelectric plants located in the western areas of Nghe An province. These areas are known for their poor transportation infrastructure, incomplete schools and hospitals, and lack of 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. This resolution recognizes the importance of these plants in providing electricity supply for the country but also acknowledges their 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 heavily in infrastructure, offset the negative effects 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 initiatives.

In addition to this proposal, the Ministry of Planning and Investment has 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.

By Samantha Jones

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