Want to be in the loop?
subscribe to
our notification
Business News
4,959 TARIFF LINES ON IMPORTS FROM EAEU BROUGHT TO ZERO
[21-10-2016] The Government’s Decree No. 137/2016/ND-CP on Vietnam’s preferential import tariff nomenclature has been issued to implement the Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) and member countries for 2016-2018.
Vietnam’s import tariff nomenclature is constructed on the basis of the list of exports and imports of Vietnam, including 9,471 tariff lines with HS 8-digit level (excluding 87 CKD tariff lines) with preferential import tariff provided in the agreements on cutting import tariff of Vietnam. Accordingly, in 2016, import tariffs of 4,959 tariff lines, accounting for 52.4 per cent, have been reduced to 0 per cent from October 5, 2016.
The tariff lines reduced to 0 per cent are mainly inputs for production (raw materials for garment-textile and leather-footwear production, and plastic materials, etc) and commodity groups that Vietnam has advantages in export (such as footwear, clothing, seafood, components and electronic products, tea, coffee, and vegetables); rubber products, milk, some types of steel and steel products, chemicals, machinery and equipment.
By 2017, the number of tariff lines with 0 per cent tax rate will not change from 2016. By 2018, there will be an addition of 144 tariff lines reduced to 0 per cent, an increase in the number of tariff lines with 0 per cent to 5,103 tariff lines, accounting for 54 per cent in the nomenclature. The roadmap for reducing import tariffs in the Vietnam-EAEU FTA nomenclature is applied in 3 periods: From October 5, 2016 to the end of December 31, 2016; from January 1, 2017 to December 31, 2017 and from January 1, 2018 to the end of December 31, 2018. In order to enjoy the preferential import tariffs in the framework of this agreement, imports must meet the conditions of the origin of goods which is defined in Circular No. 21/2016/TT-BTC of the Ministry of Finance on the implementation of the rules of origin of goods on the basis of the free trade agreement between Vietnam and EAEU.
Source: VCCI
Related News
MEMBER CORNER / PROMOTIONS
AN ELECTRIFYING NIGHT WITH THE "QUEEN OF DANCE" THU MINH AT THE GRAND HO TRAM!
The stage at The Grand Ballroom is set to catch fire as Vietnam’s undisputed "Queen of Dance," Thu Minh, takes the spotlight. Renowned for her powerhouse vocals, magnetic stage presence, and sultry, high-energy performances, Thu Minh promises an evening of pure musical euphoria. The energy escalates with an exclusive appearance by special guest and The Voice champion, Vu Thao My.
HR / LABOUR/ EMPLOYMENT
HIGH-QUALITY HUMAN RESOURCES NEEDED TO ATTRACT NEW TECH INVESTMENT CAPITAL
Besides infrastructure, Việt Nam must also rapidly develop a highly skilled workforce to attract investment in AI, semiconductors and advanced manufacturing, experts have said. Don Lam, CEO and co-founder of investment management company VinaCapital, said that global technology investors were increasingly looking at the readiness of the entire ecosystem, with high-quality human resources a decisive factor.
HR / LABOUR/ EMPLOYMENT
HIRING OUTLOOK STRENGTHENS IN Q4 AS SKILLS SHORTAGES PERSIST
Hiring intentions among employers in Việt Nam strengthened in the fourth quarter, with 52 per cent of surveyed companies planning to increase headcount between October and December, according to a ManpowerGroup survey released this week. Việt Nam's hiring outlook was stronger than the Asia Pacific and Middle East (APME) regional average of 33 per cent and the global average of 29 per cent, ranking third in the region and 11th globally among 42 markets surveyed.
BANKING / FINANCE / INSURANCE / TAX
LARGE BANKS FORECAST TO GAIN HIGHER PROFITABILITY IN H2 2026
The return on average assets (ROAA) of the banking sector will likely remain stable at around 1.5 per cent in the second half of 2026, but profitability divergence among banks will increase, with large banks outperforming peers on stronger margins and diversified earnings, analysts forecast. In a recent report on the banking sector, analysts from the Vietnam Investors Service Rating said the sector’s ROAA rose by 10 basis points quarter-on-quarter to 1.51 per cent in the first half of this year, driven by net interest margin (NIM) improvements at some State-owned banks and large private banks.
GARMENT / TEXTILE
VIỆT NAM'S FOOTWEAR, BAG EXPORTS TO US TOP $8 BILLION IN EIGHT MONTHS
Việt Nam's exports of footwear and handbags to the US exceeded US$8 billion in the first eight months of 2026, as the US and EU remained the country's biggest markets despite sluggish growth in footwear shipments. Exports from Việt Nam's leather and footwear sector reached more than $2.45 billion in August, down 9 per cent from July but up 3 per cent from a year earlier, according to preliminary statistics.
VIETNAM ECONOMY INVESTMENT
LÂM ĐỒNG TARGETS DIGITAL ECONOMY TO ACCOUNT FOR 30 PER CENT OF GRDP BY 2030
Lâm Đồng Province aims to raise the digital economy’s contribution to around 30 per cent of its gross regional domestic product (GRDP) by 2030, as part of a five-year plan to develop digital economy and society issued recently. Under Plan No. 15358/KH-UBND, the province targets more than 60 per cent of small- and medium-sized enterprises (SMEs) to adopt digital technologies by 2030 while increasing the value of cashless payments to 30 times its GRDP.
Events Sponsors
