Export in Vietnam:
Main Regulations
Since economic reforms in Vietnam held in the 1990s the country opened up and became an active member of international trade. Over the past years Vietnam has also become a member of Southeast Asian and international trade agreements. For example, Regional Comprehensive Economic Partnership (RCEP), the Association of Southeast Asian Nations (ASEAN), the European Union–Vietnam Free Trade Agreement, and others. It gives numerous opportunities in terms of export and import activities and investments. Many foreign companies and brands expand their presence in the country, and in July 2022 its import reached historical maximum of 30.53 USD billion. It is important for foreigners to be aware of the export rules and legislation process there. Before you start business with this country, learn more details about export in Vietnam and its regulations, that we want to discuss in this article.
Licensing procedures for import and export in Vietnam
A trading company in Vietnam has to register at the Department of Planning and Investment (DPI). After that, the department provides an investment certificate that allows the company to perform any import or export activities.
Main restrictions
According to the Vietnamese Trading Law, some commodities are prohibited to export to Vietnam from other countries. Those are: drugs, fireworks, toxic chemical, weaponry, cigarettes, and others.
There are also certain product categories that require government’s permission to export to Vietnam:
● Goods under import control according to the international treaties signed by Vietnam.
● Industrial explosives, chemicals, and explosive substances.
If you are working with food products, consider that trading companies have to meet some requirements. For instance, the food safety, quarantine, and quality standards of their food before clearing customs. Customs declaration is also obligatory for Vietnamese importers and may be done online.
A trading company in Vietnam has to register at the Department of Planning and Investment (DPI). After that, the department provides an investment certificate that allows the company to perform any import or export activities.
Main restrictions
According to the Vietnamese Trading Law, some commodities are prohibited to export to Vietnam from other countries. Those are: drugs, fireworks, toxic chemical, weaponry, cigarettes, and others.
There are also certain product categories that require government’s permission to export to Vietnam:
● Goods under import control according to the international treaties signed by Vietnam.
● Industrial explosives, chemicals, and explosive substances.
If you are working with food products, consider that trading companies have to meet some requirements. For instance, the food safety, quarantine, and quality standards of their food before clearing customs. Customs declaration is also obligatory for Vietnamese importers and may be done online.
Import duties in Vietnam
The majority of imported goods in Vietnam are under import duties. But there are several exceptions like:
● Goods in transit.
● Commodities transported from one free trade zone to another.
● Goods imported into free trade zones from abroad for use in free trade zones only.
Consumer goods, especially luxury ones, usually have higher rates of duties. While production equipment, materials, and machinery have lower or zero rate of duties.
Almost every product exported in Vietnam is subject to import tax; it depends on the particular category of product.
Tax rates of imported goods include preferential tax rates, special preferential tax rates, and ordinary tax rates.
Vietnamese government provides tax exemptions under specific conditions for certain imported products. It can be supplies, materials, and components which are used for manufacturing. It is also applicable for commodities temporarily imported for re-export, materials that cannot be produced in Vietnam, and others.
If you want to export in Vietnam market and start selling your products there, Awesome products Co. can help you with it. We offer such services as comprehensive FMCG marketing support including merchandising, promo activities, and on-shelves promotions. Awesome products Co. can also help your company to enter major marketplaces in South East Asia, Europe, and North America. We have years of experience selling our brands on Lazada, Shopee, Tiki, Sendo, and Amazon in different countries. Contact us and start exporting to one of the most promising country in Southeast Asia!
The majority of imported goods in Vietnam are under import duties. But there are several exceptions like:
● Goods in transit.
● Commodities transported from one free trade zone to another.
● Goods imported into free trade zones from abroad for use in free trade zones only.
Consumer goods, especially luxury ones, usually have higher rates of duties. While production equipment, materials, and machinery have lower or zero rate of duties.
Almost every product exported in Vietnam is subject to import tax; it depends on the particular category of product.
Tax rates of imported goods include preferential tax rates, special preferential tax rates, and ordinary tax rates.
Vietnamese government provides tax exemptions under specific conditions for certain imported products. It can be supplies, materials, and components which are used for manufacturing. It is also applicable for commodities temporarily imported for re-export, materials that cannot be produced in Vietnam, and others.
If you want to export in Vietnam market and start selling your products there, Awesome products Co. can help you with it. We offer such services as comprehensive FMCG marketing support including merchandising, promo activities, and on-shelves promotions. Awesome products Co. can also help your company to enter major marketplaces in South East Asia, Europe, and North America. We have years of experience selling our brands on Lazada, Shopee, Tiki, Sendo, and Amazon in different countries. Contact us and start exporting to one of the most promising country in Southeast Asia!
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