The domestic sugar industry should restructure all stages of its production process towards diversifying products to improve competitiveness, according to the Ministry of Agriculture and Rural Development.
Researchers of the Central Institute of Economic Management (CIEM) have proposed the Government to levy special consumption tax rate for bio-fuel equal to 50 per cent of the tax rate for gasoline.
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
Helicopters used for spraying pesticides, fire fighting, filming, taking photos and topography are not subject to special consumption tax.
The prices of imported automobiles in the Vietnamese market may not reduce as much as expected after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect on Monday, according to the Ministry of Industry and Trade.
Logistics fees in Việt Nam account for nearly 21 percent of the country’s Gross Domestic Product (GDP), with transport making up 60 percent of the figure, twice as much as some developed economies.