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

The Ministry of Planning and Investment has presented a plan to retain about 600 billion VND in tax revenue from 22 hydroelectric plants in Nghe An province, with the aim of developing infrastructure and improving the living standards in difficult western areas. These regions are characterized by poor transportation infrastructure, incomplete schools and hospitals, and some villages that still lack access to electricity for daily life and production.

The Ministry of Justice is currently reviewing a draft Resolution of the National Assembly which aims to pilot specific mechanisms and policies for the development of Nghe An province. This is important as hydroelectric plants located in the province play a critical role in providing electricity to the country but also have a significant impact on the environment and local communities, particularly during the rainy season.

According to the Ministry of Planning and Investment, Nghe An needs to invest in infrastructure, offset the negative effects of hydroelectric plants, and promote socio-economic development in the region. To achieve this goal, it has proposed that Nghe An retain tax revenue from hydroelectric plants for development purposes.

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 six nautical miles of the shoreline, along with tax exemptions and reductions for investors involved in seafood projects.

Nghe An holds significant potential for economic growth due to its large area and population. By implementing these proposed policies, it aims to improve its infrastructure, environmental management, and economic efficiency, ultimately contributing to the overall growth and prosperity of the region.

Overall, this plan presents an opportunity for Nghe An province to unlock its full potential while addressing some of its challenges related to transportation infrastructure, education, healthcare, and environmental impacts associated with hydroelectric plants.

By Sophia Gonzalez

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