Under 15.1 of the 2020 Investment Law, investment incentives may be given in the forms of corporate income tax incentives; exemption from import duty on goods imported to create fixed assets; and land use levy, land rental or land use tax exemption or reduction.

The 2013 Constitution of Vietnam has clearly stated in its Article 43: “Everyone has the right to live in a clean environment and has the obligation to protect the environment”. Against the backdrop of the Industrial Revolution 4.0, this principle must be strictly adhered to so as to ensure the human rights related to the living environment, especially with the use of green energy, clean energy and renewable energy for sustainable national development.

The Minister of Science and Technology has issued a circular to nullify some documents on methods of determining automobile localization rates.

The Prime Minister has recently approved the tax system reform strategy through 2030, with a focus on building the modern and effective taxation sector.

Tuyen Quang province is striving to become a national model locality for forestry-based economic development in association with eco-tourism. With 423,000 hectares of forests, including 120,000 hectares of planted forests, it ranks third in the country for forest coverage rate and first among the northern midland and mountainous provinces in terms of harvested timber.

Vietnam became an official member of the World Trade Organization (WTO) 15 years ago on November 7, 2006. Since then, the country has made big strides on the path of international integration, confidently joining the global playground. The country’s total import-export value has increased by six times over the 2006’s figure, reaching around USD 545 billion in 2020.

Customers who buy goods via international e-commerce platforms would not be required to pay import duty for goods valued at VND 1 million (USD 43.8) or under but each may enjoy duty exemption for at most one order per day and four orders per month.