20% Vietnam Biz Take Advantages of Taxes in Post-WTO

Only 20% of Vietnamese businesses have taken advantages of taxes and certificates of origin to facilitate their trade activities in the post-WTO period due to poor information propaganda.

 

Minister of Industry and Trade Vu Huy Hoang announced the information at a meeting reviewing Vietnam’s integration into the global economy during the 2008-2009 period.

 

Vietnam estimated that it exported US$150 billion worth of goods during the period, representing 160% of the country’s GDP, Hoang said.

 

The country’s export value is projected to increase on-year 6% to around US$60 billion in 2010, he added.

 

Twenty six countries have recognized Vietnam’s full market economy since it officially became the 150th member of the WTO in January 11, 2007.

 

Vietnam has to date set up diplomatic and trade relations with over 170 and 230 countries and territories and inked 90 bilateral agreements, nearly 60 investment encouragement and protection pacts and 54 double tax avoidance deals with other countries and international organizations. (VNS, Pioneer)