Vietnam Market Watch: Seafood Firm Registration, Hai Phong Infrastructure Fees, and Gia Lai Investment Incentives

Posted by Reading Time: 4 minutes
Vietnam-market-watch
Regulatory body urges seafood firms to register online

Vietnam’s National Agro Forestry Finishes Quality Assurance Department (NAFIQAD) has encouraged local and seafood producers to apply for e-certificates though the national single window registration system. The single window regulations are on the websites of the Vietnam National Single Window, the General Customs Department and NAFIQAD. Seafood producers can contact the regulatory body’s local representatives to received instructions on how to apply for e-certification.

The move is especially important as seafood business will need to prepare for e-signatures and e-certification of product packages that will be exported to South Korea and China from March 1. In addition, NAFIQAD will stop receiving complaints and appeals over wrong information in paper certification for products sent to China and South Korea. Officials have said that local seafood businesses have been unwilling to use the new e-system but should get used to them as NAFIQAD will stop receiving paper registration in the near term.

DZS RELATED: Pre-Investment Advisory Services from Dezan Shira & Associates

Gia Lai province offers incentives to investors

Gia Lai province officials have offered financial assistance of US$44,000 and administrative reforms to investors wanting to come to the province. The authorities have also implemented reforms to help the business climate such as shortening time to register assets to 14 days; this is further expected to be shortened to 10 days by 2020. Government officials have also told relevant ministries to obey to policies to support local investment projects. Authorities have also approved 61 projects in different sectors worth a total of US$1.1 billion for the 2016-2018 period. In addition, investors have invested in around 12 projects worth around US$880 million; four sectors belong to high-tech agriculture.

Related Link Icon-VB RELATED: Vietnam in 2017: Spotting Opportunities for FDI
Businesses complain over infrastructure fee at Hai Phong port

Hai Phong port operators have started collecting fees for an infrastructure upgrade which has not gone down well with businesses. Japanese firms have complained that the new infrastructure fees, which is imposed on containers moving through the port, are too pricey and confusing. The fees range from US$11 per 20 cubic foot container for regular goods to up to US$100 per container for goods temporarily imported for re-export.

Businesses have argued that as per international norms, port authorities must first invest in the infrastructure before charging fees. They have also warned that the high port fees could force them to go to ports in Thailand and have urged authorities to review the fees. Officials from the Vietnam Private Sector Forum (VPSF) have also stated that the new fees result in more paperwork which result in 2-3 hour delays. Customs clearance due to the imposition of the fees also now takes half a day longer than before.


About
 Us

Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email vietnam@dezshira.com or visit www.dezshira.com.

Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.

Related Reading Icon-VB

dsa brochureDezan Shira & Associates Brochure
Dezan Shira & Associates is a pan-Asia, multi-disciplinary professional services firm, providing legal, tax and operational advisory to international corporate investors. Operational throughout China, ASEAN and India, our mission is to guide foreign companies through Asia’s complex regulatory environment and assist them with all aspects of establishing, maintaining and growing their business operations in the region. This brochure provides an overview of the services and expertise Dezan Shira & Associates can provide.

DSA_Doing Business in Vietnam 2017_cover_126x90px

An Introduction to Doing Business in Vietnam 2017
An Introduction to Doing Business in Vietnam 2017 will provide readers with an overview of the fundamentals of investing and conducting business in Vietnam. Compiled by Dezan Shira & Associates, a specialist foreign direct investment practice, this guide explains the basics of company establishment, annual compliance, taxation, human resources, payroll, and social insurance in this dynamic country.

VB_2016_12_en_Managing_Contracts_and_Severance_in_Vietnam_-_Cover (1)

Managing Contracts and Severance in Vietnam
In this issue of Vietnam Briefing, we discuss the prevailing state of labor pools in Vietnam and outline key considerations for those seeking to staff and retain workers in the country. We highlight the increasing demand for skilled labor, provide in depth coverage of existing contract options, and showcase severance liabilities that may arise if workers or employers choose to terminate their contracts.

 

Leave a Reply

Your email address will not be published. Required fields are marked *