The Government has given the nod to halve the most-favored-nation (MFN) import tariff on unleaded gasoline to 10% from the current 20%. The decision came after the Ministry of Finance proposed lowering the tariff last month to encourage enterprises to import fuels from various countries, the local media reported. In reality, the 10% cut in the […]
Read MoreCapital account restrictions largely insulate interest rates in Vietnam from global monetary tightening and the country’s policy rate is expected to increase 50 basis points to 4.5% by end-2023, according to Fitch Ratings. Under a report on the impact of rising interest rates on Asia-Pacific (APAC) banks released this week, Fitch said annual credit targeting […]
Read MoreSuch a move will help Vietnam diversify oil import sources from China, the US, and the Middle East, and avoid dependence on certain partners amid growing global uncertainties. The Vietnamese Government has agreed to halve the most favored nation (MFN) tariff on petroleum products from 20% to 10%. The decision, which took effect on August […]
Read MoreMonetary and fiscal policies have been tightened to fight inflation in Vietnam (though it is among the lowest in the world), instead of aiming to recover production and boost growth, which is needed after several years of pandemic. Monetary and fiscal policies have been tightened to fight inflation in Vietnam (though it is among the […]
Read MoreThe nation’s economic recovery has accelerated over the last six months on the back of a resilient manufacturing sector coupled with a robust rebound in services, according to a World Bank (WB) economic update for Vietnam released on August 8. The country’s economy expanded by 5.2% in Q4 of 2021, 5.1% in Q1 of 2022, and […]
Read MoreBusinesses still must visit ministries in Hanoi to complete paperwork, which they consider a big waste of time and money. They are also concerned about high import taxes. Vietnamese businesses have to import glasshouses, for example, but as the Ministry of Planning and Investment (MPI) has not given guidance, many enterprises in Lam Dong province […]
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