December 3, 2011
Vietnam’s garment and textiles industry benefits from preferential tariffs in the ASEAN-Korea Free Trade Agreement. A bilateral free trade agreement between Vietnam and South Korea expected next year should save Vietnam from paying more Korean taxes, a Korean official said Tuesday. Â The two countries are expected to negotiate an agreement early next year, after [...]
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November 23, 2011
The Vietnamese auto industry still has a chance to grow, an official says Falling import tariffs on cars will give local automakers a tough time in the next few years, and some may have to quit the business, said Le Duong Quang, deputy minister of trade and industry. “The car market has and will see [...]
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November 14, 2011
A car factory of Truong Hai, a member of the Vietnam Automobile Manufacturers' Association. The Vietnam Automobile Manufacturers’ Association is opposing a ministeral decision that allows local car maker Hyundai Thanh Cong to import auto frames at lower tariffs than usual. According to the association, also known as VAMA, the Ministry of Science and Technology [...]
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November 12, 2011
Auto industry insiders say authorities have given an unfair tax advantage to Hyundai Thanh Cong, allowing the car maker to import whole frames at low tariffs applicable only to separate components. According to Hyundai Thanh Cong, which assembles and imports models of the South Korean car maker Hyundai, the company was allowed to import [...]
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February 5, 2010
VietNamNet Bridge – With VJEPA taking effect, more than 800 farm produce and seafood items will be able to ‘enter’ Japan with the zero percent tariff. According to the Vietnamese Commercial Affairs Division under Vietnamese Embassy in Japan, Vietnam has the opportunities to export to Japan because of the differences in crops, and especially, the [...]
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January 27, 2010
Vietnam has narrowed the prices used to calculate oil product import tariffs by switching to a Platts 30-day average of Singapore WTI crude oil prices, a move traders said would not immediately impact demand. The Platts spread is $45 to $95 a barrel, compared to tariffs in place since last April based on crude oil [...]
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January 1, 2010
A regional free trade pact that has just taken effect will promote exports and build on complementarities in the trade and investment relationship between Vietnam and Australia, the Australian Embassy in Hanoi has said. The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), effective January 1, will reduce or eliminate tariffs across a region that is home [...]
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December 27, 2009
LookAtVietnam – Agricultural officials and farmers have criticised a decision to increase import tariffs on raw materials for animal feed from next month. The Ministry of Finance has published a circular saying tariffs on such goods as maize, corn, soybeans and powdered fish will rise between 5 to 15 per cent.The decision aims to reduce [...]
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December 10, 2009
LookAtVietnam – Finance Ministry inspectors have found that the localization strategy on which Vietnam has put high hopes has fallen far short of its goals. Most major dailies carried stories December 10 reporting the findings of a Finance Ministry inspection of six foreign-controlled plants that assemble automobiles for the Vietnamese market. The data in this [...]
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November 23, 2009
LookAtVietnam – Vietnam’s car dealers are perplexed by a newly-promulgated import tariff on used cars that seems to roll back the rates to 2006 levels. Circular #216 signed by Deputy Minister of Finance Do Hoang Anh Tuan on November 12 says that beginning January 1, 2010, ‘passenger-carrying vehicles with less than 15 seats’ . . [...]
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