Additional RoK enterprise granted preferential customs treatment
The Republic of Korea’s Chang Shin Vietnam, which manufactures Nike shoes for export in the southern province of Dong Nai’s Thanh Phu industrial park, was granted preferential customs treatment.
Director of Dong Nai Customs Department Le Van Danh said the company will be eligible for the policy benefits for three years from July 20, 2015 as stipulated in regulations of the Ministry of Finance’s circular 72/2015.
The company is eligible for an extension after the three years if it satisfies certain regulations during the three years, he added.
According to the ministry, enterprises can claim preferential customs treatment if they satisfy certain conditions, such as a turnover of at least US$100 million a year for import-export companies, a turnover of at least US$40 million for exporters of made-in-Vietnam goods, and a turnover of at least US$30 million for exporters of Vietnamese farm produce and aquatic products.
Chang Shin Vietnam currently employs more than 23,400 workers, manufactures 93,000 pairs of shoes a day with total export turnover of over US$420 million. and has an annual sales growth of 35%.
The firm is one among of nine RoK enterprises in Vietnam receiving preferential customs treatment.
The company is eligible for an extension after the three years if it satisfies certain regulations during the three years, he added.
According to the ministry, enterprises can claim preferential customs treatment if they satisfy certain conditions, such as a turnover of at least US$100 million a year for import-export companies, a turnover of at least US$40 million for exporters of made-in-Vietnam goods, and a turnover of at least US$30 million for exporters of Vietnamese farm produce and aquatic products.
Chang Shin Vietnam currently employs more than 23,400 workers, manufactures 93,000 pairs of shoes a day with total export turnover of over US$420 million. and has an annual sales growth of 35%.
The firm is one among of nine RoK enterprises in Vietnam receiving preferential customs treatment.