|The beer stamping policy could cost businesses VNĐ1.7 trillion (US$74.9 million) a year if it got green light. — Photo kienthuc.net.vn|Viet Nam News
HÀ NỘI — Deputy Prime Minister Trịnh Đình Dũng has approved proposal to remove policy of stamping beer products which stirred public concerns over years.
The Ministry of Industry and Trade (MoIT) last week said that the deputy PM approved its proposal to stop the policy which could cost businesses VNĐ1.7 trillion (US$74.9 million) a year if it took effect.
On October 23, the ministry submitted a document to the PM to stop implementation of the policy which should have taken effect from the beginning of 2014 if the draft decree was approved.
Previously in 2011, MoIT together with other ministries and agencies studied a draft decree to improve the State’s ability to manage beer production and trading to tackle illicit and counterfeit beer, which caused the budget a loss of VNĐ3 trillion ($132 million) a year.
They proposed to stamp all locally made and imported beer products before they are sold in the market.
This solution was supposed to help the State increase budget revenue over VNĐ2 trillion and fight against illicit and counterfeit goods.
However, the ministry has not reconsidered the solution, finding it might increase costs for businesses.
MoIT’s calculation showed that the beer stamping policy could cost beer producers VNĐ1.7 trillion a year, putting burden on businesses and increase beer product prices.
Nguyễn Văn Việt, chairman of Việt Nam Beer Alcohol Beverage Association said businesses would have to invest into equipment to stamp products, thus increasing their spending and reducing profits and contribution of corporate income tax to the State budget. — VNS