Fuel import taxes, duties reduced

HA NOI — Fuel import taxes and duties will be reduced from next year to support petroleum enterprises which have not been able to increase prices despite global increases.

The Ministry of Finance yesterday issued a new circular guiding the implementation of preferential import duty rates applicable to some goods on the preferential import tariff list.

From January 1, 2011, fuel products will enjoy an import tax reduction of 5 per cent compared to the current rate. Petrol import duty will decrease from 17 per cent to 12 per cent; diesel oil from 10 per cent to 5 per cent; and kerosene from15 per cent to 10 per cent.

Cement plant begins production

HA NOI — Binh Phuoc Cement plant was put into operation last Friday in Binh Long district of southern coastal Binh Phuoc province.

The price of clinker produced by the plant, which is owned by Ha Tien 1 Cement Joint Stock Co (VINCEM Ha Tien), was expected to be 15-20 per cent lower than the import price, company general director Tran Viet Thang said.

The US$270 million plant's enclosed production line will use modern technology to satisfy environmental requirements. It will produce around 1.3 million tonnes of cement and 1.8 million tonnes of clinker each year.

Call centre provider joins regional group

HA NOI — Hoasao Group, a local provider of call centre services, has become a member of the Contact Centre Association of Singapore.

The membership will help Hoasao market its trademark overseas and seek foreign partners to improve services in the domestic market. Hoasao Group is expected to earn a revenue of VND150 billion (US$7.1 million) this year.

Fifth annual trade expo opens

HCM CITY — Around 150 local and foreign companies are taking part in the four-day Viet Nam Trade Expo, which opened yesterday in HCM City.

The expo has attracted exhibitors from many countries and territories, including China, South Korea, Japan, Thailand, and the host country of Viet Nam, with two specific zones displaying products of companies from China's Sichuan Province and Chinese small- and medium-sized enterprises.

On display will include products and machines in the field of transportation, metallurgy, electronics, computers and medicine as well as glass, ceramics, plastics and banking and insurance services.

More firms use e-customs clearance

HA NOI — Some 550 firms have registered for e-custom clearance procedures in the second phase.

Of the firms, 179 companies have implemented the e-custom clearance procedure, the Customs Bureau at the Sai Gon Port reported.

Around 110 import-export declarations were implemented via e-custom procedure every day. Such declarations would help enterprises shorten clearance times by a day, the bureau reported.

Source: vnagency.com.vn