Despite rising gasoline prices, transport in Vietnam recovers in 2022.

Vietnam’s transport sector experienced strong revival in 2022 despite surges in fuel prices, officials said on Friday.
The total volume of goods and passengers transported in 2022 reached more than 2 million tons and nearly 3.7 million people, up 23.7 percent and 52.8 percent year-on-year respectively, Vietnam News Agency reported, citing Deputy Minister of Transport Nguyen Danh Huy.

Amid the turbulence of increasing fuel prices, Vietnam managed to control the fuel prices by reducing environmental protection tax, use petrol and oil price stabilization fund to adjust prices. It has also mulled cutting value-added tax from 8 percent to 5 percent for transportation services and cutting corporate income tax for transport firms from 20 percent to 15 percent, he said.

The Southeast Asian country also reviewed and adjusted the legal frameworks and accelerated the application of information technology, he added.

The official noted limitations that haven’t been properly addressed including congestions at the Tan Son Nhat airport in Ho Chi Minh City, limited port infrastructure, traffic jams in the capital Hanoi and Ho Chi Minh City, and inundation caused by high tides in the southern Ho Chi Minh City.

source: macaubusiness