The Hanoitimes - Trade costs in developing countries remain high, mainly due to administrative procedures, according to expert of the Global Alliance for Trade Facilitation (GATF) in Vietnam cited by the government portal. Obsolete trade regulations in associated with non-transparent and inefficient administrative procedures placed a burden on economic growth similar to an "invisible tariff" of 164.25%, stated Nestor Scherbey, senior advisor of the GATF in Vietnam. Illustrative photo. Technical barrier to trade currently is the heaviest burden for imported goods to Vietnam, which is also the most challenging issue for Vietnam's small and medium enterprises (SMEs) taking part in the global value chain, stated Scherbey in a conference on September 10. According to statistics, SMEs accounted for 97% of the total number of enterprises in Vietnam. GATF, led by the World Economic Forum (WEF) and other international organizations, chose Vietnam as the first developing … [Read more...] about “Invisible tariff” in Vietnam reaches 164%: expert
Tariff in vietnam
VietNamNet Bridge - Russian cars have many loyal fans in Vietnam, but many complain that the cars are unaffordable. Auto K, the official distributor of UAZ vehicles in Vietnam, on March 13 announced the official selling prices of three UAZ models: VND460 million for UAZ Hunter, VND566 million for UAZ Pickup and VND686 million for UAZ Patriot. As predicted, the retail prices are described as ‘relatively high’. In fact, buyers were warned that they should not expect low prices for UAZ models in the immediate time, because the first batches of products imported to Vietnam won’t have preferential tariffs from the Vietnam-EAEU Free Trade Agreement. Russian cars have many loyal fans in Vietnam, but many complain that the cars are unaffordable. Nguyen Son, 34, in Hanoi, said with the selling prices, Russian cars would not find many buyers, because there were too many choices for customers now. “We like 4X4 vehicles. However, with the amount of money, we have many … [Read more...] about Will Russian cars sell well in Vietnam?
Nguyen Chi Mai from the ministry’s Vietnam Competition Authority said that the Vietnamese Government always esteems US investors, reflected by its efforts to promote cooperation and facilitate US investment attraction. As many as 25 leading US groups, which are in Top Fortune 500, have visited Vietnam to seek investment opportunities and many of them have decided to pour cash into the country, including Intel, Starwood Hotels & Resorts, Citigroup, American Group and Pepsi-Cola. Vice Chairman of the Dong Nai provincial People’s Committee Nguyen Phu Cuong said major US groups and companies’ investment as well as positive assessments of Vietnam’s business environment, potential and advantages have not only helped the country approach huge capital, advanced management experience and technology from the US, but also encouraged enterprises in other nations to invest in Vietnam. Representatives from the Ministry of Industry and Trade, the provincial … [Read more...] about Meeting boosts US investment in Vietnam – Investment
HCM City (VNA) – Vietnam's cashew exports in January jumped 15.6 percent year-on-year to 183 million USD, according to the Ministry of Agriculture and Rural Development. In volume terms, they were up 9 percent to 24,000 tonnes. The US, China, and the Netherlands remained the three largest buyers, accounting for 34.3 percent, 14.7 percent, and 12.8 percent of the exports. According to the Vietnam Cashew Association (Vinacas), demand, both abroad and locally, has increased strongly this year and cashew processors and exporters have worked to increase supply. Demand surges in Vietnam and China during Lunar New Year, it said. In the domestic market, the price of raw cashew nut has gone up to around 40,000 VND per kilograme, 1,000 VND up from December. Dang Hong Giang, Vinacas Deputy Chairman, said exports to TPP member countries account for more than 50 percent of the total, with the US being the biggest buyer. The TPP is a good thing for the cashew industry, he said, adding that … [Read more...] about Bản in : Vietnam’s cashew exports surge in January
Hanoi (VNA) - Countries of the Trans-Pacific Partnership (TPP), including Vietnam, will remove tariff on new cars in the 13th year after the agreement comes into effect, a finance ministry official said. Speaking at a press conference in Hanoi last week, Deputy Head of the ministry's International Cooperation Development Ha Duy Tung said that most of the domestically-assembled cars had an engine displacement of below 3,000cc. Meanwhile, tariffs on cars with displacement of 3,000cc and above would be lifted in the 10th year. As for used cars, Vietnam would apply a tariff quota for a moderate amount. The country would allow the import of 66 units in the first year after the TPP takes effect. The figure would be regularly increased to reach 150 units in the 16th year. At the same time, the tariff on used cars in quota will be reduced to zero percent. As for the car out of quota, it will be taxed following the most-favoured nation tariff in the World Trade Organisation's commitments. … [Read more...] about Bản in : TPP to remove car tariffs in 13 years