The Government promulgates Decree No. 26/2023/ND-CP Export Tariff, Preferential Import Tariff, List of Goods and Absolute Tax Rates, Mixed Taxes and Out-of-quota Import Taxes.

Decree No. 26/2023/ND-CP is promulgated together with the following 4 appendices:

1- Appendix I – Export tariff according to the List of taxable goods.

2- Appendix II – Preferential import tariff according to the List of taxable goods.

3- Appendix III – List of goods, absolute tax and mixed tax rates for used passenger cars with 15 seats or less.

4- Appendix IV – List of goods and Out-of-quota Import Taxes for out-of-quota goods.

This Decree also regulate conditions for entitlement to the preferential import duty rate of 0% with regard to imported auto parts of automobiles according to the tax incentive program for automobile manufacturing and assembly and materials, supplies and accessories used for manufacturing, processing (assembling) supporting industrial products prioritized for development of the automobile manufacturing and assembly industry.

Accordingly, from October 1, 2022 to the effective date of this Decree, the requirement pertaining to the minimum degree of completeness of auto parts according to Point b Clause 3.1 Article 7a specified in Clause 3 Article 2 and point b.5 clause 3 Section II Chapter 98 Decree No. 57/2020/ND-CPstatus3 .

In case an enterprise has participated in the Tax Incentive Program but has not yet been refunded the import duty paid from October 1, 2022 to the effective date of this Decree, it will be entitled to a tax refund equivalent to the number of auto parts that have been imported if the requirements specified in the tax incentive program are satisfied, the requirement pertaining to minimum degree of auto parts is not applicable.

Preferential import duty rates for imported auto parts of heading 98.49 specified in Article 8 of this Decree shall be applied until December 31, 2027. Enterprises that have registered to participate in the Tax Incentive Program before the effective date of this Decree must re-register with the customs authorities.

Preferential import duty rates for raw materials, supplies and components for the manufacturing, processing (assembly) of supporting industry products prioritized for development for the automobile manufacturing and assembly industry prescribed in Article 9 of this Decree shall be applied until December 31, 2024. Enterprises that have enrolled in the Tax Incentive Program for the automobile supporting industry specified before the effective date of this Decree must not re-register.

This Decree comes into force as of July 15, 2023.

Source: https://datafiles.chinhphu.vn/cpp/files/vbpq/2023/6/26-nd.signed.pdf

Prime Minister Pham Minh Chinh attended the ground-breaking ceremony of Ring Road 4 which spans 112km through Ha Noi, Hung Yen and Bac Ninh.

Prime Minister Pham Minh Chinh issued the order to start the project.

Addressing the event, Prime Minister Pham said infrastructure development is one of the three strategic breakthroughs defined by the Party.

“The investment in the construction of Ring Road 4, located in the Capital Region, will create new opportunities for development in the entire region, particularly benefiting Hanoi and the provinces of Hung Yen and Bac Ninh, through which the route passes,” Prime Minister Pham Minh Chinh said.

Prime Minister Pham Minh Chinh also emphasized that the groundbreaking ceremony marked the first step towards success and highlighted the magnitude of the upcoming tasks that lie ahead.

The Ring Road 4 project has a total length of 112.8 km and is initially estimated to require a total investment of VND85,813 billion. Substantial progress is expected to be made by 2026 and the project is expected to become operational in 2027.

The project is divided into seven different component projects, which will be implemented independently. In addition, the National Assembly has granted specific mechanisms to facilitate investment capital, implementation, hiring contractors on a non-competitive basis, and managing the utilization of materials for the project.

The project has total investment capital of VND 85 trillion. Photo: dantri.com.vn

In Hanoi, work on the Ring Road 4 – Capital Region project has started at four designated sites:

Starting Point No. 1 is located at the primary bridge intersection of Ring Road 4 and Thang Long Boulevard (at Km28+900 of Ring Road 4, corresponding to Km12+600 of Thang Long Boulevard) in Song Phuong Commune, Hoai Duc District.

Starting point No. 2 is located at the intersection of Ring Road 4 and National Highway 2 (at Km1+445) in Thanh Xuan commune, Soc Son district.

Starting point No. 3 is located at the intersection of the South Axis (at Km45+700) within the territory of Tam Hung Commune, Thanh Oai District.

Starting point No. 4 is at the intersection of Ring Road 4 and the old National Highway 1A (at Km52+600 of Ring Road 4, corresponding to Km190+270 of National Highway 1A) in Van Binh commune, Thuong Tin district.

Source: https://hanoitimes.vn

On June 5, 2023, Viglacera Corporation – JSC held a progress meeting to evaluate the results of production and business activities in May 2023 as well as the business plan and key tasks for the last 6 months of the year.

As reported at the briefing, in the first months of 2023, the instability of the world economic situation and in Vietnam significantly affected the production and business situation of material manufacturing and real estate enterprises in the country, the market demand for materials decreased. In that context, Viglacera continued to stick to the management goals, drastically directed production, business and investment, focused on solving difficulties, making the most of and exploiting opportunities in the market. Viglacera Corporation’s production and business activities’ operational results continued to exceed the profit target in May 2023.

Specifically, the consolidated profit of the Corporation in May 2023 reached 166% of the month plan, of which the parent company achieved 142%. In May, the entire Real Estate Department achieved 126% of the planned revenue, and exceeded the profit target by 44%, especially in the industrial real estate business. For building materials, the export revenue target reached 100% as planned, exceeding 26% compared to the same period in 2022.

Overview of the meeting.

Notably, although in the past time, the building material production faced many difficulties and achieved low efficiency, Viglacera promptly adapted and caught the opportunity to accelerate right from the first months of 2023 to face the quick and unpredictable market moves.

The bright spot in the material is the products: Energy-saving Glass and Aerated Concrete. In the period of general difficulty and saturation of the building materials market, these products have the ability to compete in the market and achieve high efficiency in production and business. This is the right direction of the Corporation leaders in recent times in terms of directing the development of the new products and new orientations in the line of Green and Environmentally Friendly Building Materials.

Investing in the new line of Sacmi Continua+ is also a new development orientation for the Tiles block. New product trends such as high-class large-format porcelain tiles produced on Viglacera’s Continua+ line will be supplied to the domestic market to replace imported goods. Besides, Vasta Sintered Stone products are a pioneering difference when providing solutions for new interior materials. These are positive signs, showing the right step of the Corporation in researching and developing new pioneering products.

Assessing that the market in the last months of 2023 still has many difficulties and challenges, leaders of Viglacera Corporation directed to focus on researching and evaluating the market, spreading distribution channels in localities; deploying business solutions from the domestic market to export; balancing the production plan according to the actual needs of the market, while continuously improving product quality, launching new products to suit consumers’ tastes…

Source: http://www.viglacera.com.vn

Deputy Prime Minister Tran Hong Ha has signed a decision approving an adjustment to the investment plan for an expressway connecting northern mountainous Tuyen Quang province and northern Phu Tho province with the Noi Bai – Lao Cai Expressway.

Total investment capital in the project will increase to VND3.75 trillion ($158 million) from VND3.2 trillion ($135 million)….

The 40.2-km link includes 11 km in Tuyen Quang province and the remainder in Phu Tho.

In the first phase, from 2020 to 2023, the expressway will have two lanes, allowing vehicles to travel at a maximum speed of 80 km/h. Completion is expected by the end of this year.

Under the adjusted plan, the second phase will be implemented this year instead of 2025, as scheduled, expanding the expressway to four lanes and allowing a maximum speed of 120 km/h..

Source: https://vneconomy.vn