THURSDAY, March 28, 2024
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AEC Feed

Viettel on course to hit overseas sales target

Viettel Group, Vietnam’s largest mobile network operator, is likely to achieve its ex-Vietnam revenue target of US$1.5 billion (Bt53 billion) this year, thanks to a sudden spurt in sales in some of its new markets.
Laos and Cambodia are considered the two best and steadiest international markets for Viettel.
Unitel, Viettel’s Laotian company, has achieved cumulative revenues of $1 billion in the seven years since it entered the market and profits of $300 million. It has 2.5 million subscribers, and a 47-per-cent market share in mobile subscriptions and 35 per cent in broadband.
With 4,000 base transceiver stations and 23,000 kilometres of fibre-optic cable, Unitel has covered every district in Laos and 95 per cent of the population. – Viet Nam News

Jakarta gives green light to private refineries
Private companies may now grab their own piece of Indonesia’s oil-refinery cake as a new regulation allows them to build refineries without cooperating with state-owned oil and gas company Pertamina.
Indonesia is in dire need of more oil refineries to minimise refined-fuel imports in the next decade, which are set to skyrocket to accommodate rising demand.
At present, the country’s refineries are only capable of processing around 830,000 barrels of oil per day, a little over half of the current refined-fuel demand. – The Jakarta Post

Indonesia up 44 places in ease of paying taxes
Paying taxes in Indonesia is becoming easier thanks to digital technology and legal reforms. 
According to a joint study by financial consulting firm PricewaterhouseCoopers and the World Bank, Indonesia has improved to the 104th rank among 190 economies assessed.
The study, “Paying Taxes 2017”, was released on Thursday, showing that Indonesia’s rank in 2016 increased by 44 places from 148th place last year. In 2014, Indonesia was ranked 160th.
“Indonesia’s significant improvement of 44 places in the Paying Taxes 2017 study reflects the use of electronic social-security systems and ongoing positive tax reforms. The government’s focus on improving the ease of paying taxes is the right step in encouraging tax compliance,” Ay Tjhing Phan, PwC Indonesia’s head of tax and legal services, said in a statement.
Even though it has a massive potential tax base given the population of 255 million, Indonesia’s current tax-to-GDP ratio stands at less than 12 per cent, below the typical Southeast Asian rate of 13-15 per cent. – The Jakarta Post
 

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