Three more foreign firms get preferential customs

Friday, Feb 14, 2014 16:18

Workers assemble bar code readers at a factory of Datalogic Scanning Vietnam Company Ltd at Sai Gon hi-tech park in HCM City. The firm is one among of three new enterprises given recognitions to receive preferential customs treatment from the General Department of Vietnam Customs. Photo
HA NOI (Biz Hub) — Director General of the General Department of Vietnam Customs Nguyen Ngoc Tuc recently signed a memorandum of understanding granting preferential customs treatment to three foreign enterprises.

These firms are two South Korean companies - Samsung Electronics Vietnam Company Ltd at Yen Binh industrial zone in Thai Nguyen Province's Pho Yen District and Tae Kwang Vina Industrial Joint Stock Company at Bien Hoa II industrial zone in Dong Nai Province's Bien Hoa City - and Italian company Datalogic Scanning Vietnam Company Ltd at Sai Gon hi-tech park in HCM City's District 9.

The pilot programme on priority regime of customs was carried out in 2011, with regulations set on Circular No 63 issued on May 13 and Circular No 105 issued on July 12 by the Ministry of Finance.

The experimental period came to the end when the ministry released Circular No 86 on June 27, 2013. In comparison with the two former circulars, the latest one changed conditions on export-import turnovers of preferential enterprises.

According to Circular No 105, firms getting preferential treatment in export and import of all kinds of goods must have a minimum turnover of US$350 million per year. Enterprises with preferential treatment in export of agricultural products, textiles, footwear and import of materials to manufacture the aforementioned products must have a minimum turnover of $70 million. However, the businesses in the two categories mentioned above are required to have a minimum turnover of only $200 million and $50 million respectively, in Circular No 86.

Since the programme's launch, 17 firms have been granted preferential customs so far. However, PV Oil Corporation has been suspended from receiving any preferential customs treatment, according to Decision No 2687 of the General Department of Vietnam Customs issued on August 28, 2013.

Therefore, there are 16 enterprises receiving preferential customs treatment at the moment, two of them from South Korea's Samsung Corporation. — VNS

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