General Department of Customs Applying priority to businesses
- 200
- Business
- 02:08 23/03/2023
DNHN - Nguyen Van Tho, Deputy Director General of the General Department of Customs, the signing of the Mutual Recognition Agreement on the Priority Enterprise Program (DN) with ASEAN countries
Organizations are entitled to the priority system
The General Department of Customs has just signed an Agreement on the mutual recognition of the Priority Enterprise Program with the customs of Association of Southeast Asian Nations (ASEAN) member states, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
Nguyen Van Tho, Deputy Director General of the General Department of Customs, stated that Vietnam has been piloting the Priority Enterprise Program since 2011 and officially implementing it in 2014 through the introduction of regulations on the Priority Enterprise Program. This program currently applies to businesses with import and export operations.
By the end of 2022, after eight years of Priority Enterprise Program implementation in Vietnam, 74 enterprises will be subject to the priority enterprise regime, including 23 Vietnamese enterprises, 15 Korean enterprises, and 15 Japanese enterprises. Ban, the remainder are United States, Taiwan (China), Italian, and Danish businesses...
The import-export turnover of 74 priority enterprises will reach 221 billion US dollars in 2021, accounting for approximately 30 percent of the country's total turnover. The priority business sectors are extremely diverse, ranging from industry, outsourcing, and processing to agriculture and the creation of hundreds of thousands of jobs.
Sharing the benefits of signing the Mutual Recognition Agreement on the Priority Enterprise Program with ASEAN member countries, Deputy Director General Nguyen Van Tho stated that through the Mutual Recognition Agreement, priority enterprises will enjoy many benefits, such as: reducing customs clearance time and related costs (storage costs, labor costs); ensuring on-time delivery; enhancing competitive advantage; and bolstering the security of the supply chain of goods when transiting through ASEAN member countries.
When evaluating and classifying priority enterprises of countries that have signed the Mutual Recognition Agreement on the Priority Enterprise Program, the customs authorities of those countries will recognize and coordinate to address the challenges faced by enterprises. encountered to implement the necessary monitoring and management procedures.
Also according to the head of the General Department of Customs, priority enterprises will reap the benefits of mutual recognition agreements when engaging in import-export activities with partners from nations that have signed agreements with Vietnam. To take advantage of these agreements, Vietnam's priority enterprises may seek suppliers and customers in countries that have signed agreements with Vietnam.
Focusing the application of regulations on priority businesses
In the future, the General Department of Vietnam Customs will continue to improve the regulations on priority enterprises based on the recommendations of the World Customs Organization on Applicable conditions, priority regimes, powers and responsibilities of customs offices; Rights and obligations of enterprises, customs management for priority enterprises, building and promoting the implementation of agreements; and Applicable conditions, priority regimes, powers and responsibilities of customs offices. essential work in the world
The Customs Development Strategy to 2030 outlines the objective of promoting the implementation of agreements on mutual recognition of priority enterprises between Vietnam Customs and the customs of the world's most significant partner nations.
To achieve the aforementioned objective, it is crucial to amend domestic law so that Vietnam's Priority Enterprise Program provisions are comparable to those recommended by the World Customs Organization. necessary. This will contribute to the reduction of time spent in negotiations with other nations.
Until now, countries in the ASEAN region have implemented the Priority Enterprise Program to varying degrees, depending on their respective circumstances. Nevertheless, virtually all nations have implemented the Program by the recommendations of the World Customs Organization's Security and Safety Standard Framework (SAFE).
"The pilot implementation of the agreement with ASEAN nations will pave the way for the General Department of Customs to negotiate and sign with other nations," stated Deputy Director General Nguyen Van Tho.
PV
Related news
- Long An - Jeju Cooperation: Enhancing Local Friendship Ties
- Ministry of Finance: Corporate bond maturity volume in 2024 will decrease compared to last year
- Long An continues to push for Korean investment - Promoting comprehensive development collaboration
- Sunwah Group signed strategic partnership with Binh Duong province, Emphasising the strategic cooperative partnership between China and Vietnam
- National Assembly Chairman Vuong Dinh Hue received and worked with the Chairman of Sunwah Group (Hong Kong-China)
- Dr Vu Tien Loc: Unlocking the real estate market to boost the economy is a crucial solution
- Ba Ria - Vung Tau: 4 key areas of industry, seaports, tourism and high-quality services planned to attract investment
- Financial solutions for the global supply chain in Vietnam
- Viettel ranks second in global telecoms brand index
- Vietnam’s steel imports are estimated to exceed US$4 billion by the end of the first quarter of 2024
- Acting President Vo Thi Anh Xuan meets a delegation of the Vietnam Young Entrepreneurs Association
- State-owned enterprises to play a leading role in the economy
- Ensuring power supply - a key factor for FDI enterprises to invest in Vietnam
- South Korea to approve projects supporting Vietnam’s agricultural development
- Thanh Hoa Business Association: Seminar and Business Networking in Trieu Son District
- Binh Thanh Business Association organised March’s “Business Start-up and Management” Coffee Talk
- Vietnamese businesses dominate market share in Japan
- Important seafood industry groups exported to Australia
- Prime Minister encourages Australian companies to make investments in fresh growth drivers in Vietnam
- Foreign E-commerce businesses pay over 2,000 billion VND in tax in the first two months of the year
Đọc thêm Business
Bac A Bank reports pre-tax profit of over VND1,000 billion, with low non-performing loan ratio
Bac A Bank has announced positive business results for 2023, with consolidated revenue continuing to grow, promising non-interest income, and a non-performing loan (NPL) ratio remaining at the lowest level in the industry.
Hanoi ranks among the world’s top 100 smartest cities in 2024
A smart city is defined as “an urban environment that uses technology to enhance the benefits and reduce the drawbacks of urbanisation for its citizens”.
BIDV collaborates to help businesses overcome capital constraints
At the Forum, BIDV representatives, experts and speakers exchanged and shared many experiences to resolve difficulties and obstacles for businesses in accessing capital sources to stabilise production and business operations and develop sustainably
Long An - Jeju Cooperation: Enhancing Local Friendship Ties
With the determination to boost socio-economic development, especially in the high-tech industry, Long An has made strides in building a cooperative relationship with South Korean localities through the recent investment promotion trip to South Korea
Ministry of Finance: Corporate bond maturity volume in 2024 will decrease compared to last year
According to the Ministry of Finance, although the volume of corporate bond maturities in 2024 is expected to decrease compared to 2023, it will still be high, concentrated in sectors with payment risks such as real estate and renewable energy.
Hanoi: Thanh Xuan District People’s Committee and Labour Federation hold a ceremony to honour “Skilled Workers”, “Initiatives and Innovations” in 2024
On April 23, the People’s Committee and the Labour Federation of Thanh Xuan District, Hanoi, held a ceremony to honour “Skilled Workers”, and “Initiatives and Innovations” in 2024 and to commemorate the 138th anniversary of International Labour Day.
The “Star” cooperatives in Quang Tri province
The Vietnam Cooperative Alliance has just held a ceremony to honour 100 cooperatives (COOPs) that won the “CoopStar Awards” in 2024. Dong Thanh Agricultural General Services Cooperative is the only unit in Quang Tri province to receive this award.
FPT teams up with NVIDIA to build a $200 million AI factory
The factory’s mission is to enhance AI research and development capabilities, thereby building advanced applications and solutions, focusing on generative AI (GenAI), autonomous vehicles and green transition.
Technology continues to have a significant impact on FPT Corporation’s revenue
The Technology segment (including domestic and international IT services) continues to play a key role, contributing 60% of the Group’s total revenue and 45% of its pre-tax profit.
Financial difficulties in the coffee sector in Binh Phuoc
Binh Phuoc, one of Vietnam’s key coffee-growing regions, plays a vital role in promoting agricultural development and creating jobs for local people.