RoK businesses updated on tax, customs policies

Customs officers explained changes including restrictions on the import of used machinery, quick settlement of administrative procedures concerning tariffs, changes in the VAT and new tax policies. 

Some Korean representatives in attendance raised questions about key issues relating to the clearance of goods, investment incentives, hiring of foreign workers, and health care.

Head of the Dong Nai provincial Customs Department Le Van Danh said the local customs agency is committed to streamlining the goods clearance process and reducing the time involved as well as creating more favourable conditions for businesses to operate effectively.

So far, Korean companies have pledged total investment capital of US$4.3 billion in 280 projects, ranking second among foreign investors in Dong Nai, and accounting for 10% of the total of RoK investment in Vietnam.