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Vietnam to reduce fees for enterprises
The Hanoitimes – This lies among Vietnam government’s key strategies to push the country`s business environment rank up in worldwide map.
The Ministry of Planning and Investment has just proposed government to issue one resolution with the aim to push Vietnam rank in business environment inches up 8-18 places among 190 nation-list in 2018.
Once approved, Vietnam business environment will see significant improvement due to the procedures simplification and the fee reduction.
Specifically, the resolution focuses on some Vietnam’s low ranked indexes such as business initiation, asset copyrights and usage, bankruptcy solution… as well as mentions competitive ability in tourism and logistics to help restructure the economy.
Once approved, Vietnam business environment will see significant improvement due to the procedures simplification and the fee reduction.
Specifically, the resolution focuses on some Vietnam’s low ranked indexes such as business initiation, asset copyrights and usage, bankruptcy solution… as well as mentions competitive ability in tourism and logistics to help restructure the economy.
However, according to observers, those targets still meet obstacles to fulfil. Some ministries, cities and provinces haven’t paid enough attention to the commitments in reducing fees for enterprises.
As a stark example, specialized inspection costs one enterprise in Ho Chi Minh City around VND700 million (US$ 31,200) per month, one-half times higher than VND300 million in 2016 under the new fee rates.
Quality inspection by Seafood Bureau costs about VND40 – 50 billion for a commodity package of 60 – 70 tons, while that fee by Livestock Bureau hit VND500.000 – 700.000 per product. As a whole, firms have to spend up to tens of million VND for an import carriage.
Besides, it’s noted that the current rate of import goods for specialized inspection are at 30-35%, while the target for 2017 is 15%, creating a huge gap.
In general, there are great room for Vietnamese government to keep cutting down fees for enterprises.
As a stark example, specialized inspection costs one enterprise in Ho Chi Minh City around VND700 million (US$ 31,200) per month, one-half times higher than VND300 million in 2016 under the new fee rates.
Quality inspection by Seafood Bureau costs about VND40 – 50 billion for a commodity package of 60 – 70 tons, while that fee by Livestock Bureau hit VND500.000 – 700.000 per product. As a whole, firms have to spend up to tens of million VND for an import carriage.
Besides, it’s noted that the current rate of import goods for specialized inspection are at 30-35%, while the target for 2017 is 15%, creating a huge gap.
In general, there are great room for Vietnamese government to keep cutting down fees for enterprises.
Source: http://hanoitimes.com.vn/economy/trade-service/2018/01/81E0C04D/vietnam-to-reduce-fees-for-enterprises/