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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Vietnam: Export processing zones (EPZs) pledge to help foreign firms

Friday, June 13, 2014 > 09:18:54

(Vietnam News)

HA NOI (VNS) — Ha Noi's industrial parks (IPs) and export processing zones (EPZs) will co-ordinate closely with relevant bodies, to help foreign direct investment (FDI) firms in dealing with export and import procedures.

It was suggested during a workshop held by the Ministry of Industry and Trade's Export and Import Department, and the Management Board of Ha Noi's Industrial Parks and Export-Processing Zones (HIPEPZ) on Tuesday that difficulties for FDI firms in the capital's IPs and EPZs be removed.

Nguyen Thai Long, HIPEPZ's Deputy Director admitted that FDI firms in the capital this year have had significant difficulties amid rising input costs.

Long said that complicated administrative procedures in export and import have also hindered the firms' performances. HIPEPZ will closely entrust and authorise relevant authorities to cut time for the firms' customs clearance.

As land lease fees in the capital's IZs and IPZs are also higher than that of other cities and provinces, Long said that the HIPEPZ has so far proposed to the Ha Noi's People Committee for a reduction in the fees for FDI firms.

The board will also open more training classes to help FDI firms have skilled workers.

According to the Ha Noi Department of Planning and Investment, Ha Noi's FDI registered capital to date this year is estimated at US$560 million, up 13.7 per cent against the same period last year. The rise is mainly thanks to the capital addition of existing projects including the South Korean Tay Ho Tay urban area's $234 million, German B.Braun healthcare company's $30 million, Viet Nam-France Hospital's $40 million, South Korean Lotte Hotel's $54 million and Yamaha Electronic's $10.5 million.

FDI disbursement capital in the period also increased 6.5 per cent to $405 million

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