Vietnam MoF talks of favorable conditions for Korean firms

VGP – The Finance Ministry has recently held a conference to update policies and administrative procedures in taxation and customs for the Republic of Korea’s (RoK) enterprises.

At the conference, Deputy Minister of Finance Do Hoang Anh Tuan and leaders of the General Department of Taxation and the General Department of Vietnam Customs answered many questions about tax and customs policies, processes of import-export, and production of Korean companies in Vietnam.

Mr. Ha Chan-ho, Korean Ambassador to Vietnam, said that in the first 8 months of this year, the RoK had 136 new investment projects and 45 operational projects raising their capital, with the combined capital of US$654 million, becoming Vietnam’s third biggest foreign investor.

The RoK has had 2,900 investment projects totaling over US$23 billion in Vietnam, mostly in manufacturing, real estates and construction.

Korean firms expect Vietnam’s stronger support, especially through better taxation and customs policies.

By Ngoc Van

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