Business

Vietnam plans tax incentives to boost mineral processing industry

The new policy is designed to encourage businesses to invest in advanced processing technologies, enhance added value and support the development of high-tech industries.

Workers load and unload cement. (Photo: VNA)
Workers load and unload cement. (Photo: VNA)

Hanoi (VNS/VNA) – The Government has issued a decree amending export tax rates for several mineral products under the Export Tariff Schedule.

The new policy is designed to encourage businesses to invest in advanced processing technologies, enhance added value and support the development of high-tech industries.

Under Decree 201/2026/ND-CP, the export tax rate on fluorite containing more than 97% calcium fluoride by weight (HS code 2529.22.00) will be reduced from 10% to 5%.

The decree also revises export tax rates for bismuth and products made from bismuth, including waste and scrap, classified under HS code 81.06.

Specifically, the existing category has been subdivided into several 10-digit HS codes, including cement bismuth in cake form and cement bismuth products containing more than 70% and up to 99.99% bismuth by weight. These products will be subject to a new export tax rate of 0%.

The Ministry of Finance stated that the proposed adjustments are intended to encourage businesses to invest in technology, expand deep processing activities and make more efficient use of mineral resources.

These changes are also aligned with a development orientation for high-tech and key industrial sectors, as well as the economy’s sustainable development strategy.

According to the ministry, the adjustments are consistent with the Party’s and the State’s policy of improving the management, exploitation and use of mineral resources in a resource-efficient and sustainable manner, while ensuring environmental protection and promoting the development of industries with high added value./.

VNA
#tax incentives #mineral processing industry #Export Tariff Schedule Vietnam
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