Want to be in the loop?
subscribe to
our notification
Business News
CUSTOMS TAKES ON BOTTLENECKS
The project was considered important to cut time for customs clearance and reduce costs for businesses in line with international practices, as the country was striving to hasten customs reforms, in which specialised checks remained a bottleneck.
This was a part of the effort to reduce customs clearance time to the legal level of ASEAN-6, or below 10 days for export products and below 12 days for import products in 2016, and below five days for both import and export products by 2020. Notably, under the project, 87 legal documents related to specialised checks in customs clearance under the management of 13 relevant ministries must be amended.
Of them, 49 circulars and decisions belonged to the Ministry of Agriculture and Rural Development, 10 were of the Ministry of Industry and Trade, nine of the Ministry of Health and four of the Ministry of Construction.
The Prime Minister recommended that 85 out of the 87 documents be amended by the first quarter of next year while the deadline for the remaining two of the Ministry of Science and Technology was the end of 2016.
In order to achieve the goals, the project said that the legal framework about specialised checks must be completed together with renovations in checking methods to create favourable conditions for exports of Vietnamese products while setting standards for import products.
Source: VIR
Related News
CAR IMPORTS INCREASE 37.5 PER CENT IN 10 MONTHS
Việt Nam mainly imported cars from Indonesia, with 57,963 units imported so far this year (19,569 units higher than over the same period last year). Imports also came from Thailand, with 54,481 units (7,535 units higher than last year) and China, with 24,613 units (16,112 more than last year).
HAIPHONG TARGETS US$4 BILLION IN FDI FOR 2024
Haiphong recently approved 12 new projects in its economic and industrial zones, valued at a combined US$1.8 billion. This brings the total FDI in these zones to US$3.5 billion as of November, surpassing the city’s annual target by 40%.
FOREIGN INVESTORS FLOCKING TO SOUTHERN REGION
Foreign investors are actively calling on southern localities in the final months of 2024 to explore investment opportunities. On November 7, over 40 German businesses arrived in the southern province of Dong Nai to evaluate investment prospects in the area.
IMPROVING THE EFFECTIVENESS OF SOCIAL POLICY CREDIT
Following a decade of implementation, social policy credit is expected to enter a new phase of development to achieve higher efficiency for the sake of society and the community. On behalf of the Party Central Secretariat, on October 30, Standing Member of the Party Secretariat Tran Cam Tu signed a directive to improve the efficiency of social policy credit.
VIETNAMESE ENTERPRISES GRAPPLE WITH CHALLENGES IN Q3
In many sectors, businesses acknowledged that simply breaking even was an accomplishment this year. A prominent example is Nam Sông Hậu Trading Investment Petroleum JSC, once a leading fuel distributor in the Mekong Delta.
GLOBAL SOURCING FAIR VIETNAM 2025
Global Sourcing Fair Vietnam 2025, held from 24-26 April at the Saigon Exhibition & Convention Center (SECC), Ho Chi Minh City, is the must-attend international expo for sourcing Fashion & Accessories and Home & Gifts