Vietnam’s diplomatic sector overcame numerous challenges throughout 2020 to create, grasp and optimise new cooperation opportunities, thus contributing to the country’s progress towards development, stated Deputy Prime Minister and Foreign Minister Pham Binh Minh.
While 2020 has been a successful year for Vietnamese rice exports, more must be done to accelerate the development of the national rice brand, experts have said.
The National Assembly Standing Committee on December 10 passed a resolution on the new environment tax rate on jet fuel in 2021, under which the rate will be 2,100 VND per litre, down 30 percent.
The sugar industry is facing many challenges and unfair competition from imported and smuggled goods, experts told a conference held in Hanoi on December 1.
The Industry Ministry of Thailand is pushing ahead with its ambitious plan to bring prices of electric vehicles (EVs) closer to those of traditional fuel-powered cars by reducing the import duty on auto parts used to assemble EVs in the country.
With the European Union – Vietnam Free Trade Agreement (EVFTA), the EU will completely liberalise trade in broken rice, and will reduce the tax rate to zero percent for Vietnamese rice products after three to five years. This is a great opportunity for Vietnamese rice to compete in the EU market.
After a local silk importer was recently found to be disguising Chinese products as Vietnamese to sell them in India, experts have warned of the risks of losing out on exports and preferential tariffs due to intellectual property (IP) violations.
After a local silk importer was recently found to be disguising Chinese products as Vietnamese to sell them in India, experts have warned of the risks of losing out on exports and preferential tariffs due to intellectual property (IP) violations.
Vietnam’s rice exports have expanded during the pandemic to surpass rival Thailand in price for the first time in three decades, leading experts to suggest the sector should consolidate its position.
The Cabinet of Thailand on August 25 approved a one-month extension of the state of emergency through September 30 to control the COVID-19 pandemic as the nation seeks to prolong its streak of going three months without a local transmission.
The Vietnam Institute for Economic and Policy Research (VEPR), in coordination with Oxfam, Prakarsa, Tax and Fiscal Justice Asia (TAFJA) and Vietnam Tax Justice Alliance (VATJ), on June 25 announced research outcomes on the case of corporate tax incentives in the ASEAN towards sustainable tax policies in the ASEAN Region.
The EU-Vietnam Free Trade Agreement (EVFTA), which is expected to take effect on August 1, will not only help to raise export turnover but also increase the competitiveness of Vietnamese fruit and vegetables and fisheries products in the European market.
In the post-pandemic period, if the Vietnam-EU Free Trade Agreement (EVFTA) is put into effect, businesses will gain a huge advantage from reducing or removing tariff barriers to the EU to exploit the market.
The Government’s decision to offer a zero-import tax rate on automobile components opens significant opportunities for the local industry to lower prices, enhance competitiveness and promote consumption.
Despite the difficulties posed by the COVID-19 pandemic, Vietnam can still reach its annual export growth target of 7-8 percent if market opportunities are optimised, experts have said.
Under EVFTA commitments, as soon as the agreement comes into effect, the EU will eliminate about 85.6 percent of tariff lines on Vietnamese goods, equivalent to 70.3 percent of Vietnam's revenue from exports to the bloc.
Politics
