Banking & Finance

The figure equal to nearly 60% of the Prime Minister's target.

Once fully operational in both directions, the system will establish a comprehensive cross-border QR payment ecosystem, boosting tourism, trade, and consumer spending between the two countries.

The signing of the agreements is part of activities within Vietnamese Party General Secretary To Lam's two-day state visit to Laos.

If the new revenue threshold is applicable, about 2.3 million business households will be exempted from income tax, accounting for approximately 90% of the total business households currently paying taxes.

Under a credit contract, a credit facility of VND6.75 trillion ($256 million) will be provided for the project.

Chairman of the City People's Committee, Nguyen Van Duoc, said that the city is entering a new phase of development, however, the two biggest bottlenecks today are institutions and capital.