VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 18

HCM City aims for annual VND3trn from port-related tariffs The authorities in HCM City expect to collect an annual VND3trn (USD129m) from port tariffs as the city ports receive over 170 million tonnes of goods each year. The revenue will be used to develop the infrastructure at and around the ports. This is also a way to deal with the congestion problem while the city’s budget is limited. HCM City Department of Transport said the ports in the city play an important role in connecting the maritime transport of Southeast Asia, Mekong Delta Region with Vietnam’s four major ports of Cat Lai, Nha Be, Hiep Phuoc and Saigon. However, congestion around the port has become an urgent problem and caused transportation costs to rise. Statistics from 2019 show that the total amount of goods transported via HCM City’s ports will be 237 million tonnes in 2030, putting huge pressure on infrastructure. Taking lessons from port models in Hai Phong City, the department proposed to collect port charges and service fees to fund more public investment. Cargo which is temporarily brought into Vietnam for re-export and where the declaration is completed outside of HCM City will mean the owners will have… Read full this story

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