20% of Cao Bang’s revenue comes from temporary imported and re-exported goods

Temporary imported and re-exported car gathered at centralized area for inspection goods at Dong Khe town, Thach An in order to do inspection procedure before re-export. Photo: T.Bình

The latest information from the Cao Bang People's Committee showed that the turnover value of re-exported goods through Cao Bang province increased steadily in the last three years. Specifically, it reached $US 805 million in 2014, $US 950 million in 2015 and $US 997 million in 2016.

According to the Cao Bang People's Committee, in the past three years, the revenue from temporary import and re-export activities reached 606 billion vnd, contributing to 70% of total revenue from import-export activities through the area.

The Cao Bang Provincial People's Committee evaluated and implemented the policy of re-exporting goods through auxiliary border gates, openings and clearing points according to the Circular 05/2014/TT-BCT of the Ministry of Industry and Trade contributing about 20% of the total annual budget collection in the province. In that, in 2014 it reached 144 billion vnd, 207 billion vnd in 2015 and 255 billion vnd in 2016.

The revenues from business activities of temporary import and re-export are concentrated on investing in the building infrastructure in the border areas in order to serve for import and export activities and local people's life.