GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:  

(1)  High commitment and participation from Government, Industry and companies for food safety, environment  and social responsibility;

(2)  Able to supply the big volume and safe quality and stable seafood products;

(3)  Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4)  Vietnam is one in few countries in the world which has the good and stable labor resource; 

(5)  Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.  

Finance Ministry steps up customs, tax reforms

The deputy minister of finance urged the general departments of customs and taxation to further administrative reform efforts to facilitate businesses, which still have several questions about tax and customs procedures.

“The Ministry of Finance is committed to hasten reforms of tax and customs policies aimed at creating the best business environment,” Vu Thi Mai said at the dialogue held by the ministry and the Vietnam Chamber of Commerce and Industry (VCCI) on November 28 in Hanoi.

The dialogue drew the participation of more than 400 companies and industry associations.

Mai said the ministries welcomed all comments from businesses which would contribute significantly to improve policies.

During the past five years, the finance ministry has broadened dialogues with businesses, aimed at providing them with updates to address their difficulties.

According to VCCI’s Deputy Chairman Hoang Quan Phong, slow tax settlement and slow customs clearance were among the problems that businesses faced.

Phong said dialogue and training of the updates to policies must be promoted in addition to transparency in tax and customs procedures.

Cao Anh Tuan, deputy director of the General Department of Taxation, said tax policies had been amended to ensure they were appropriate with the global integration trend and the country’s economic development, and would contribute to removing difficulties for taxpayers, coupled with efforts for simplifying tax procedures.

Accordingly, tax procedures had already been reduced from 385 to 300. E-tax declaration and payment were applied nationwide, which helped cut tax payment time from 537 hours in 2013 to current 117 hours. In addition, online tax refund was under the pilot phase and would soon be applied widely.

Vu Ngoc Anh, deputy director of the General Department of Customs, said customs reforms were made towards facilitating import and export, implementing a national single window and improving transparency.

At the dialogue, tax and customs official answered questions of businesses, related to special consumption tax, tax policies on automobiles and regulations on temporary import.

According to Mai, the Ministry of Finance will work closely with relevant ministries and organisations to implement measures to support businesses.

Source: VNA


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