Businesses propose exemption and reduction of seaport infrastructure fees

VCN - In the current gloomy import and export situation, enterprises have proposed to exempt and reduce seaport infrastructure fees for import-export businesses to partly reduce the burden.
Vietnam needs 13.3 billion USD to develop seaports Vietnam needs 13.3 billion USD to develop seaports
Combining with seaports and logistics ecosystem to support export-import goods Combining with seaports and logistics ecosystem to support export-import goods
Vietnam, Belgium promote partnership in seaport, logistics Vietnam, Belgium promote partnership in seaport, logistics
Businesses propose exemption and reduction of seaport infrastructure fees
The road to Cat Lai port in Ho Chi Minh City. Photo: T.H

Reducing the burden on businesses

At the recent briefing of the Private Economic Development Research Board (Board IV), Mr. Nguyen Duy Minh, General Secretary of the Vietnam Logistics Business Association (VLA) proposed information to Board IV to the Government on directing the exemption and reduction of seaport infrastructure fees for import-export businesses to partly reduce the burden on businesses during the current import and export situation.

As of December 31, 2022, Ho Chi Minh City has collected over VND 1,900 billion from port infrastructure fees. It is expected that in 2023, the revenue will reach about VND 3,000 billion.

Ho Chi Minh City started to collect seaport infrastructure fees from 00:00 on April 1 with the lowest level of 15,000 VND per ton, the highest 4.4 million VND for a 40-foot container.

The fee collection process is implemented electronically, not using cash. However, after the implementation period, many businesses and associations reacted because they thought there was discrimination, this fee added a burden to businesses, especially after the pandemic.

At the 6th meeting of the People's Council of Ho Chi Minh City, term X on June 25, 2021, the Resolution on amending and supplementing Resolution No. 10 of the City Council on collecting seaport infrastructure fees from August 1, 2022.

Accordingly, Ho Chi Minh City exempts fees for all types of goods, including imported goods directly serving security and defense; ensuring security and overcome consequences of natural disasters and epidemics; sending to the bonded warehouse; transit; in and out of the port by waterways according to the Agreement between the Governments of Vietnam and Cambodia on water transport. Import and export goods transported by water will be reduced by 50% of the fee. In addition, the fee for import and export goods declared in Ho Chi Minh City or another locality is also adjusted to the same rate.

The purpose of amending the resolution is to support the transportation of goods by inland waterway for subjects covered by the Agreement between Vietnam and Cambodia on water transport. At the same time, encourage inland waterway transport to develop and accompany the Government to support enterprises to restore production and business.

Large inventory, import and exportare still difficult

Presenting the macroeconomic situation, businesses and policies to support businesses, Dr. Can Van Luc, member of the National Monetary and Financial Policy Advisory Council, Chief Economist of BIDV, pointed out the current inadequacies and notable points of the economy.

According to forecasts, the economic situation this year will be less positive than in previous years, which is understandable because the economy is recovering from the Covid-19 pandemicalong with the war between Russia and Ukraine negatively impactingthe global supply chain. A rather bleak picture of the Vietnamese economy with bad debts at banks increasing and according to statistics in the last five years, the period (2019-2023), the industry - construction sector decreased for the first time.

However, besides the negative forecasts, the economy still has some bright spots, typically the inflation rate has decreased from 7.6% (in 2022) to 5.2% (in 2023) and is expected to fall to 3.2% in 2024, and positive domestic consumption growth and the government's promise of unprecedented public investment this year.

Regarding the import and export situation in the future, Dr. Can Van Luc said that the reduction in both quantity and price has led to a decrease in export turnover. In which, the wood industry is being affected the most, down 28.7%.

In the main import-export markets of Vietnam, there is Korea, which has experienced a serious decrease in turnover compared to the same period last year when it decreased from -7.1% to -26.8%. Moreover, next year (2024) is also the year of global minimum tax, so it is predicted that the situation of attracting foreign investment capital will not be positive in the near future.

Ms. Pham Thi Ngoc Thuy, Standing Deputy Director of Division IV Office, said that retail inventory in the US had reached USD 740 billion; this shows the need to import more goods from Vietnam. The US is falling because the inventory in their current retail system is at an alarming level.

A prediction for Vietnam is that if this number of inventories decreases, Vietnam will have the opportunity to increase exports to the US market, so the short-term solution for our country's manufacturers is to turn to develop the domestic consumer market in the current period of gloomy exports.

By Le Thu/Bui Diep

Related News

Latest News

Pepper export turnover up over 30% in H1

Pepper export turnover up over 30% in H1

Vietnam exported 142,586 tonnes of pepper in the first half of this year, down 6.8% in volume but up 30.5% in value, the Vietnam Pepper and Spice Association (VPSA) has reported.
Dong Nai remains FDI magnet in H1

Dong Nai remains FDI magnet in H1

The foreign direct investment (FDI) influx into the southern industrial hub of Dong Nai in the first six months of this year was equivalent to 138% of the locality’s plan for the whole year.
Vietnamese agricultural products, food expected for deeper engagement in global supply chain

Vietnamese agricultural products, food expected for deeper engagement in global supply chain

Vietnam boasts advantages and potential in agricultural production and export, yet domestic firms need to do more to join the global food supply chain more intensively, insiders have said.
Developing export markets along with trade promotion

Developing export markets along with trade promotion

VCN - Import and export of goods in the first 6 months of 2024 continue to record positive results, total turnover is estimated at USD 369.6 billion, up 16% over the same period last year.

More News

Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world markets.
Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitiveness of local businesses.
Malaysia to boost exports to Vietnam

Malaysia to boost exports to Vietnam

The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
Exporters advised to update trade policies of Singapore

Exporters advised to update trade policies of Singapore

The Vietnam Trade Office in Singapore has advised Vietnamese exporters to carefully study and keep updated on new regulations in Singapore, a market that is becoming more cautious in trade policy, in order to further exploit this market.
Import and export turnover increases to US$ 51 billion

Import and export turnover increases to US$ 51 billion

VCN – Import-export turnover in June saw a slight decrease but remained at a high level, the General Department of Vietnam Customs announces.
Green logistics – a key for sustainable development

Green logistics – a key for sustainable development

Green logistics development is no longer a trend, it is an inevitable requirement with activities throughout the stage of purchasing raw materials, production, distribution, delivery, waste treatment - throughout the entire business life cycle.
Manufacturing enterprises need to adapt to trends to develop: experts

Manufacturing enterprises need to adapt to trends to develop: experts

Besides the factors of price, product quality and delivery time, green and sustainable development are competitive criteria that more and more markets are requiring from suppliers in Ho Chi Minh City as well as across the country.
Rubber exports grows sharply in June

Rubber exports grows sharply in June

VCN - According to Import – Export Tax Department (Ministry of Industry and Trade), Vietnam's rubber exports in June 2024 reached about 150 thousand tons, worth 238 million USD, up 77.6% in volume and 76.6% in value. Price compared to May 2024.
Prioritize stimulating domestic consumption to promote economic growth in 2024

Prioritize stimulating domestic consumption to promote economic growth in 2024

VCN - According to General Director of the General Statistics Office Nguyen Thi Huong, in the context of many difficulties in the world economy, the export growth rate is slowing down, many businesses are facing a shortage of orders..., priority should be given to stimulating demand. Domestic consumption is considered an important solution to promote economic growth in 2024.
Read More

Your care

Latest Most read
Pepper export turnover up over 30% in H1

Pepper export turnover up over 30% in H1

Vietnam exported 142,586 tonnes of pepper in the first half of this year, down 6.8% in volume but up 30.5% in value, the Vietnam Pepper and Spice Association (VPSA) has reported.
Dong Nai remains FDI magnet in H1

Dong Nai remains FDI magnet in H1

The foreign direct investment (FDI) influx into the southern industrial hub of Dong Nai in the first six months of this year was equivalent to 138% of the locality’s plan for the whole year.
Vietnamese agricultural products, food expected for deeper engagement in global supply chain

Vietnamese agricultural products, food expected for deeper engagement in global supply chain

Vietnam boasts advantages and potential in agricultural production and export, yet domestic firms need to do more to join the global food supply chain more intensively, insiders have said.
Developing export markets along with trade promotion

Developing export markets along with trade promotion

VCN - Import and export of goods in the first 6 months of 2024 continue to record positive results, total turnover is estimated at USD 369.6 billion, up 16% over the same period last year.
Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world market
Mobile Version