About 65 per cent of the UK’s import taxes were erased as soon as the agreement took effect from December 31, and the rest will be eliminated in the course of the next 10 years. Meanwhile, 81 per cent of Vietnam’s import taxes on UK goods will be cut and the remainder will be steadily removed in the next seven years.
According to Ho Chi Minh City People’s Committee, more foreign businesses are developing projects at Saigon Hi-tech Park (SHTP) in District 9 to become suppliers for Samsung Electronics’ CE Complex (SEHC) in the city.
With new stricter and stronger measures to control COVID-19, Vietnam is ensuring safety for industrial zones as a way to prevent possible disruption in the local production and supply chains.
A certificate of origin (C/O) in Vietnam is an important document that allows exporters to enjoy certain tax incentives and/or other preferential treatment. This document is needed for the increasing wave of production lines transferring from China to Vietnam.
The process of finding a suitable location for business establishment, different legal procedures in each country and the time it takes to build a factory may have a significant impact on the operation of an enterprise.
The trade tension that is stretching into its fourth year has fostered a wave of shifting production to countries outside of China.
