Vietnamese industrial enterprises need favorable tax policies

Price competition remains a challenge for Vietnamese industrial enterprises in their endeavors to enter the global supply chain, as there are still a lot of inadequacies in tax, fee, and interest policies. “In law-making, we will focus on issues such as tax policies and provision of interest rate compensation, as a high interest rate is not at all favorable for enterprises.” Hoai also informed about new policies such as creating an industrial ecosystem, providing supporting technology, and developing production to meet global standards. The import tax on raw equipment is zero percent, but the import tax on raw materials can reach up to 20 percent, Tong elaborated. Price competition remains a challenge for Vietnamese industrial enterprises in their endeavors to enter the global supply chain, as there are still a lot of inadequacies in tax, fee, and interest policies. The import tax on raw equipment is zero percent, but the import tax on raw materials can reach up to 20 percent, Tong elaborated.