Goods valued under VND1 million (US$39.18) will no longer qualify for VAT exemption when they are imported into Vietnam via express delivery services under the Prime Minister’s recent decision.

Starting February 18, the value-added tax (VAT) exemption for imported goods valued under VND1 million (approximately US$40) sent via express delivery will officially be discontinued.

Vietnam has initiated 29 trade defence investigations to protect its domestic market and businesses' interests, thus increasing state budget revenue by approximately VND1.5 trillion (US$60.4 million) a year, according to the Ministry of Industry and Trade (MOIT).

While the influx of imported goods has presented challenges, with signs of dumping and subsidisation impacting domestic industries, Vietnam has effectively countered these threats.

VOV.VN - New Canadian regulations for imported goods will exert an impact on Vietnamese export businesses moving forward, according to industry insiders.

VOV.VN - Vietnam’s import turnover from July 16 to July 31 reached US$13.5 billion, posting a rise of 0.9% compared to the first half of July, according to the General Department of Vietnam Customs.

Up to 89% of the imports in the first four months of this year are raw materials and accessories for domestic production with a combined value of US$106.6 billion, up 16.8% year-on-year, according to the Ministry of Industry and Trade.

Vietnam’s seaports have handled an estimated 180 million tonnes of goods in the first quarter of 2022, the Vietnam Maritime Administrative (VMA) reported.

Trade remedies should be utilised more and in a more effective way to ensure fair competition and protect domestic production in the context of Vietnam’s deeper integration into the global economy through joining more free trade agreements (FTAs), according to experts.

VOV.VN - Vietnam should be striving to fine-tune the legal system in consistence with commitments set out in the EU-Vietnam Free Trade Agreement (EVFTA), reduce customs procedures and non-tariff barriers for imported goods to utilise benefits from the trade pact, according to industry insiders.